China

China Vanke Posts Sales of RMB 25.59 Bln for January

Summary:

  • In a report to the Shenzhen Stock Exchange, real estate developer China Vanke (000002.SZ/2202.HK), said that its r sales for January 2016 were RMB 25.59 billion, with 1.86 million square metres sold.
  • The company also started 16 new projects in January across numerous cities including Beijing, Shanghai, Guangzhou, Hangzhou, Suzhou, Ningbo, and Xiamen.

Why It Matters:

  • Prior to January, China Vanke reported sales in December 2015 of RMB 33.24 billion and sales in November of RMB 24.11 billion.
  • China Vanke has not yet provided an estimate of its 2015 earnings, but the company has previously announced that total sales for 2015 were RMB 261.47 billion, compared with total sales for 2014 of RMB 215.13 billion.
  • The consensus estimate of Chinese analysts for China Vanke’s 2015 net profit is RMB 18.45 billion, up 17.17% from the previous year. EPS for 2015 is expected to be around RMB 1.67.