HONG KONG Jan 5 (Reuters) – Mainland property
developer Greentown China Holdings Ltd posted contract
sales for December of 5.7 billion yuan ($905.54 million), a
source with direct knowledge of the matter said on Thursday, a
44 percent decline from the same month last year.

Full-year sales for 2011 hit 35.3 billion yuan, the source
told Reuters. The company reported contract sales of 54.1
billion in 2010, indicating 2011 sales fell 35 percent.

Greentown officials could not be immediately reached for
comment.

Shares in the company were trading 4.8 percent lower in
mid-afternoon trade on Thursday, bucking a 0.23 percent rise in
the Hang Seng Index. Greentown’s stock plunged 62.5
percent in 2011.
($1 = 6.2946 Chinese yuan)

(Reporting by Alex Frew McMillan; Editing by Charlie Zhu)

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