Guangzhou R&F Properties, the largest developer in Guangzhou, has sold two luxury apartments for 101.5 million yuan (HK$115.2 million) to chairman Li Szelim and executive director Zhang Li.
It said the sale would help improve the group's cash flow as the deal would provide a pre-tax profit of 35.5 million yuan.
Mr Li and Mr Zhang each bought a serviced flat at the Ritz-Carlton Guangzhou in Tianhe district.
The two executives agreed to make full payment within a month.
Last month, the two executives also spent a total of 82.74 million yuan for two residential units at R&F City, Guangzhou.
The purchase contributed a pre-tax profit of 32.6 million yuan.
In the past two months, Mr Li and Mr Zhang have spent a total of 184.24 million yuan to buy properties from the firm.
