Parent Company's Exit from China Vanke Positive for China Resources Land
On Jan. 12, 2017, China Resources Holding, or CRH, agreed to sell its entire stake in China Vanke to Shenzhen Metro. The disposal consists of 1.7 billion A-shares at CNY 22 per share, netting CRH CNY 37 billion. After the transaction, CRH’s primary exposure to the real estate sector will be through its 68% stake in China Resources Land, or CRL. Hence CRL is likely to receive stronger parental support from CRH going forward. We view the transaction as a positive to the company. We maintain our fa...China Resources Land is an investment holding company. Through its subsidiaries, Co. is engaged in the development and sales of developed properties, property investments and management, hotel operations and the provision of construction, decoration and other property development related services in the People's Republic of China. As of Dec 31 2014, Co. operated in four segments: sale of developed properties, property investments and management, hotel operations, and construction, decoration services and others.
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