China’s real estate developer Fantasia’s January sales down 78% year-on-year

According to the latest data released by Chinese real estate developer Fantasia Holdings, in January 2022, the company sales were only about 510 million yuan (80 million dollars), a sharp decrease of 77.76% compared with 2.294 billion yuan (360 million dollars) in the same period in 2021.

According to the “Freedom Times” report, Fantasia announced on the Hong Kong Stock Exchange on February 7 that the company’s property sales in January this year fell 77.76% year-on-year to only about 510 million yuan. 35,764 square meters, a year-on-year decrease of 74.79%, the average property price is about 14,287 yuan (2,245 dollars) per square meter, a year-on-year decrease of more than 11%.

Affected by the above-mentioned bad news, Fantasia’s stock price fell on February 8. As of 2:00 p.m. Beijing time on February 8, Fantasia’s stock price was temporarily reported at HK$0.305, a decrease of 3.175%.

Fantasia Holdings is a major real estate developer in China. The company operates in five segments: property development, property investment, property operation services, property agency services, and hotel services.

The group was founded in 1996 and went public on Hong Kong Stock Exchange in 2009.