LING Ke, chairman at property developer Gemdale Corporation, has resigned due to health reasons, the company said Monday night.
Ling, 64, joined Gemdale in the early 1990s. He has served as the chairman of the company since 1998. Gemdale went public in the Shanghai Stock Exchange in 2001. Since then, its sales revenue grew from 534 million yuan (US$64.52 million at the time) to 286.7 billion yuan (US$39.2 billion) in 2021.
The sales data released by Gemdale for September 2023 shows a year-on-year decline, with contracted area at 686,000 square meters and contracted amount at 13.1 billion yuan.
However, since Q3, the monthly sales performance of the company has seen a continuous month-on-month increase. From January to September this year, the company has accumulated a contracted area of 6.69 million square meters and a contracted amount of 121.93 billion yuan, ranking tenth in the industry.
