China Vanke Co. Ltd
China Vanke Co., Ltd. is principally engaged in the real estate industry. The Company develops residential buildings and provides property management services. During the year ended December 31, 2008, the Company sold out approximately 5.57 million square meters of properties. The Company's operation covers the Pearl River Delta Region, comprised of Shenzhen, Guangzhou, Foshan, Zhongshan, Zhuhai, Changsha, Xiamen and Dongguan; the Yangtze River Delta Region, consisting of Shanghai, Suzhou, Hangzhou, Nanjing, Wuxi, Ningbo, Zhenjiang and Nanchang; Huan Bohai Region, including Beijing, Tianjin, Shenyang, Qingdao, Changchun and Dalian, and other cities, including Wuhan and Chengdu.
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China Vanke Q3 profit more than doubles
China Vanke (SZ:000002), China's largest property developer by market value, yesterday reported third quarter profit of RMB430m, more than double the same period last year.
The company also announced that over the first three quarters its net profit was up 29.9 percent year-on-year to RMB2.96 billion. Revenues were also up 31.1 percent to RMB29.54 billion. The rises are against 2008, which was a particularly poor year for property developers. In 2008, Vanke's profit declined 16.7 percent on the previous year.
Vanke sold 5.1 million square meters of housing over the first three quarters of 2009, 26.8 percent more than the same period in 2008.
