China Growth Development Inc. is a Chinese commercial property developer, investor and operator of commercial property in Shanxi Provence, China. The company recently reported its 2009 second-quarter financials, posting an increase in revenue and net income.
For the second quarter ended June 30, 2009, China Growth reported revenue at $4.18 million, up 12 percent from the $3.74 million reported for the second quarter of 2008. The company attributes the boost to expansion of shopping malls and initialization of their operations, as well as to deferred payments from commercial tenants.
Sam Liu, COO of China Growth, said the positive results reflect the company’s ability to execute expansion efforts.
“We are pleased at our progress and ability to deliver solid results this quarter,” Liu stated in the press release. “Our expansion projects have lead the way to increased revenue, and that is a perfect example of our growth strategy succeeding. We are
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