In-Line 3Q Results; Vanke Focusing on Digestion for the Rest of the Year
China Vanke reported third-quarter 2018 results that generally tracked the trend seen during interim and in line with our estimates. For the nine-month period, revenue and net profit were CNY 174 billion and CNY 14 billion, respectively, up 55% and 25% year on year. Gross margin continued to expand, reflecting higher average selling prices throughout 2017 and early 2018. Earnings per share came in at CNY 1.27, up 26% year on year. For the period, the top line and earnings accounted for 49% and 3...
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