trending Market Intelligence /marketintelligence/en/news-insights/trending/h0HwMzB5CG7H1vW2P7ILyQ2 content esgSubNav
In This List

China Vanke H1 net profit rises 29.79% YOY

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


China Vanke H1 net profit rises 29.79% YOY

China Vanke Co. Ltd. said net profit for the first half rose 29.79% from a year earlier, driven by property sales in major Chinese cities.

Net profit for the six months ended June 30 rose to 11.84 billion yuan from 9.12 billion yuan in the previous corresponding period, the Chinese developer said in an Aug. 20 release. It said 45.41% of its H1 net profit came from sales in the Shanghai region, one of the most developed areas in eastern China.

EPS rose to 1.06 yuan from 83 fen over the same period.

Revenue increased 32.86% to 139.32 billion yuan from 104.86 billion yuan, and revenue from property development rose 33.56% to 132.99 billion yuan.

The company, which continues to acquire parcels to boost its land bank, said earlier that it sold 21,501,000 square meters of properties for 334.00 billion yuan during the first six months of 2019.

As of Aug. 20, US$1 was equivalent to 7.06 Chinese yuan.