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Shanghai Wanye Enterprises Logs Nearly 90% Surge in Q2 Contracted Real Estate Sales; Shares Plunge 10%

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Shanghai Wanye Enterprises (SHA:600641) logged a contracted sales amount of more than 35 million yuan for its real estate projects in the second quarter, up 89.7% year over year, according to a Saturday disclosure to the Shanghai Stock Exchange.

Cumulative contracted sales area grew 30.4% to 966 square meters, the company said in its filing.

The company did not acquire new land reserves for real estate development during the three months through June 30.

Shares of the real estate developer were down 10% in afternoon trading on Monday.

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