Pan Shiyi， Chairman of Hong Kong-listed Soho China Ltd.， said that the company’s businessmode has successfully transformed from sellingproperties to operating self-owned projects.In the first half of this year， Soho Chinaposted profits of 2.09 billion yuan ($341 million)，up 242 percent year on year， and its revenuereached 2.48 billion yuan ($405 million)， growing103 percent from a year ago， the companysaid in its interim report on August 20.
Robust demand for high-quality office space in Beijing and Shanghai versus insufficientsupply has catapulted vacancy rates to historiclows， the report said.
At the end of June， Soho China held 15.2 billion yuan ($2.48 billion) in cash， and its net debtratio was 14.3 percent.
“Soho China’s financial condition is capable of weathering any market turbulence，” Pan said.
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