China Vanke's Sales Slower Year to Date, but Reasonable Performance Compared With Peers
China Vanke’s contract sales slowed during the first two months of 2019 and were down more than 10% year on year. The slowdown was broadly expected, but we believe the company is likely to fare better than its other large-cap peers. Coupled with its relatively quick pace of land acquisition during the second half of 2018, the company should have adequate amount of salable resources in 2019 and benefit from the continuing consolidation trend in an overall weakening property market. At this point,...
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