China

China Vanke Records 76% Increase in May Sales

Summary:

  • China Vanke (000002.SZ) has recorded a 76% increase in May sales to RMB 36.4 billion, according to Ifeng Finance.
  • The total area sold by China Vanke also increased 62% to 2.68 million square meters.

Why It Matters:

  • For April 2016, China Vanke posted total sales of RMB 35.7 billion and the total area sold was 2.64 million square meters.
  • Vanke’s sales for the first five months of this year totalled RMB 147.67 billion, an increase of 74% compared with total sales of RMB 84.76 billion for the first five months of 2015.
  • The firm also announced 9 new project developments in multiple cities, including Guangzhou, Tianjin, Nanjing, and Foshan. In some of these projects, China Vanke has partnered with other companies in order to reduce risk.