Tencent Securities News (Beixiang) Xuhui Holding Group rose against the market in the afternoon, rising nearly 3% to a high of HK$6.92, a record high of over January. As of press release, Xuhui Holdings Group (0884.HK) rose 2.08% to HK$6.87, with a turnover of HK$194 million.

The company released its 2017 results in the afternoon. The company achieved revenue of RMB 31,824 million, an increase of 43.2% over the previous year; net profit attributable to shareholders' equity was 4,828 billion yuan, an increase of 71.9% over the previous year; basic earnings per share were 0.68 yuan; and it is proposed to pay 14.54 points per share.

Regarding revenue growth, the announcement stated that it was mainly due to confirmed average sales prices and increased floor space delivered. In 2017, the company's property sales increased by 46.3% to 30.295 billion yuan, and rental revenue increased by 51.8%. Revenue from project management and other property related services increased 22.4%.

Xuhui Holding Group said that the group has set an initial contract sales target of 140 billion yuan for the full year of 2018, an increase of 35% over the previous year. As a result of investing in land in 2017, the company has reserved sufficient marketable resources.

According to the quarterly inspection results previously announced by the international index company MSCI (Ming Sheng), Xuhui Holdings included the China Index in the MSCI Global Standard Index series and excluded the China Small Cap Index, which took effect after the market closed on February 28.

Xuhui Holding Group recently received an increase in target price from HK$5.04 to HK$7.56 by BOCOM International, maintaining its “buy” rating.