Third-Quarter Results In Line, but Contracted Sales Price Growth Lagging Peers
China Vanke reported third-quarter 2016 results in line with expectations. Revenue and net profit were CNY 40 billion and CNY 2.9 billion, respectively, up 49% and 45% year on year. Gross margin for the quarter expanded to 23%, versus 27% and 21% for the first and second quarters. EPS was CNY 0.26, up 47% year on year. For the year through September, revenue and net profit totaled CNY 111 billion and CNY 8.3 billion, accounting for 51% and 35% of our full-year target, roughly in line with the ru...China Vanke is engaged in the development and sale of properties with commodity housing as its major products. Through its subsidiaries, Co. is also engaged in project investments; the construction technology research; investment trading and provision of consultancy services; intelligent technology; and the provision of yacht and berth leasing. Co.'s investment covers Guangshen Region, Shanghai Region, Beijing Region and Chengdu Region.
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