BEIJING - Greenland Holdings Co Ltd, a major property developer in China, posted a year-on-year growth of 30 percent in net profits in 2019.

According to its annual report disclosed to the public, the major real estate developer reported 14.7 billion yuan ($2.1 billion) of net profits attributed to its shareholders last year.

Total business revenue of the company stood at 427.8 billion yuan last year, up 23 percent year-on-year, the report said.

The developer said its total assets rose 11 percent year-on-year to reach 1.1 trillion yuan at the end of 2019.