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Pan Hong Property Group turns around with net profit of $12m in 3Q

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Pan Hong Property Group, the Hong Kong-based property developer that focuses primarily on developing properties in the second and third-tier cities in China, has chalked up RMB57.3 million ($11.9 million) in net profit for the third quarter ended 31 December 2009 (3Q2010), reversing the loss of RMB3.6 million in the previous corresponding period (3Q2009).

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