China

China Vanke Posts Sales of RMB 48.12 Bln for January

Summary:

  • In a report to the Shenzhen Stock Exchange, China’s leading real estate developer, China Vanke (000002.SZ/2202.HK), stated that its sales for January 2017 were RMB 48.12 billion, with 3.53 million square meters sold.
  • The company also said that it started 19 new projects in January across several cities including Beijing, Guangzhou, Suzhou, Qingdao, Foshan, Zhongshan, Fuzhou and Xiamen.

Why It Matters:

 

  • Prior to January, China Vanke reported sales in December 2016 of RMB 23.41 billion and November sales of RMB 29.47 billion.
  • China Vanke has not yet provided an estimate of its 2016 earnings, but the company has previously announced that total sales for 2016 were RMB 364.77 billion, compared with total sales for 2015 of RMB 261.47 billion.
  • The consensus estimate of Chinese analysts for China Vanke‘s 2016 net profit is RMB 21.1 billion, up 16.43% from the previous year. EPS for 2016 is expected to be around RMB 1.91.