Sunshine City Group Co Ltd<000671>, which was formerly known as Fujian Sunshine Industrial Development Co Ltd, said last Friday that its subsidiary Hainan Industrial Co Ltd has won the bid for a piece of land in Hainan Province for RMB 125 million, sources reported.
 
The parcel, located in the holiday resort in Changjiang Li Autonomous County, Hainan Province, will have gross floor area of 136.4 mu, with a floor area ratio of below 0.8 and building density of up to 20%.
 
The plot will be used for commercial properties, according to the company.
 
Separately, Sunshine City reaped RMB 482 million in net profit last year, skyrocketing 165.76% year on year, with earnings per share of RMB 0.90, according to the company’s financial report.
 

 
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