China Vanke Co., the country's largest property developer by market value, saw net profits increase 25.1 percent year on year to 3.73 billion yuan ($585.6 million) in the first half of the year, according to a statement filed to the Shenzhen Stock Exchange. Its revenue jumped 53.7 percent to 30.72 billion yuan ($4.83 billion).

In the first six months, it sold 6.03 million square meters of housing, with the sales value reaching 62.54 billion yuan ($9.84 billion).

"More projects will be put on sale in the second half, and it's highly likely that the company's sales will beat last year's, provided there are no big changes in the market environment," said Tan Huajie, Vanke board secretary.