The independent financial analyst theScreener just lowered the general evaluation of CHINA VANKE CTD. (CN), active in the Real Estate Holding & Development industry. As regards its fundamental valuation, the title still shows 1 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date March 15,...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
After a decade of breakneck growth, a slowing Chinese economy and subdued demand will now weigh on the real estate sector. Favourable capital market conditions or supportive government policies are likely to have only a temporary and limited effect. For the sector as a whole, contract sales growth will slow or even decline. Excess capacity and inventory buildup will constrain significant price growth. Slower contract sales limit the cheapest source of funding for real estate developers, and smal...
China Vanke reported first-quarter results slightly below our projection as earnings growth lagged behind the top line. Revenue and attributable net income were CNY 48 billion and CNY 1.1 billion, respectively, up 59% and 25% year on year, driven by expected higher completions. Gross margin for the quarter was at 35% versus 33% a year ago, but in line with the margin seen for full-year 2018. EPS came to CNY 0.102, up 25% year on year. Revenue and net profit for the quarter accounted for 12% and ...
China Vanke reported first-quarter results slightly below our projection as earnings growth lagged behind the top line. Revenue and attributable net income were CNY 48 billion and CNY 1.1 billion, respectively, up 59% and 25% year on year, driven by expected higher completions. Gross margin for the quarter was at 35% versus 33% a year ago, but in line with the margin seen for full-year 2018. EPS came to CNY 0.102, up 25% year on year. Revenue and net profit for the quarter accounted for 12% and ...
After a decade of breakneck growth, a slowing Chinese economy and subdued demand will now weigh on the real estate sector. Favourable capital market conditions or supportive government policies are likely to have only a temporary and limited impact. For the sector as a whole, contract sales growth will slow or even decline. Excess capacity and inventory buildup will constrain significant price growth. Slower contract sales limit the cheapest source of funding for real estate developers, and smal...
After a decade of breakneck growth, a slowing Chinese economy and subdued demand will now weigh on the real estate sector. Favourable capital market conditions or supportive government policies are likely to have only a temporary and limited impact. For the sector as a whole, contract sales growth will slow or even decline. Excess capacity and inventory buildup will constrain significant price growth. Slower contract sales limit the cheapest source of funding for real estate developers, and smal...
China Vanke announced a share placement for its H-shares. Under the placement agreement, the company will issue 263 million new H-shares at HKD 29.68 per share. The placement price is at a discount of 5.02% to the latest closing price. The company will use the proceeds, totaling HKD 7.8 billion, to repay offshore debt financing. We believe the share placement increases liquidity for H-shares, as well as attracting more institutional investors, both are positives for the shares. We maintain our f...
China Vanke announced a share placement for its H-shares. Under the placement agreement, the company will issue 263 million new H-shares at HKD 29.68 per share. The placement price is at a discount of 5.02% to the latest closing price. The company will use the proceeds, totaling HKD 7.8 billion, to repay offshore debt financing. We believe the share placement increases liquidity for H-shares, as well as attracting more institutional investors, both are positives for the shares. We maintain our f...
China Vanke announced a share placement for its H-shares. Under the placement agreement, the company will issue 263 million new H-shares at HKD 29.68 per share. The placement price is at a discount of 5.02% to the latest closing price. The company will use the proceeds, totaling HKD 7.8 billion, to repay offshore debt financing. We believe the share placement increases liquidity for H-shares, as well as attracting more institutional investors, both are positives for the shares. We maintain our f...
China Vanke reported full-year 2018 results that were below our estimate. Revenue and net profit were CNY 297 billion and CNY 33.7 billion, respectively, up 25% and 20% year on year. Development margin expanded to 37%, a record high for the company, reflecting the rising average selling price in 2017. Earnings per share came in at CNY 3.06, up 20% year on year. The company declared an annual dividend of CNY 1.07 per share, up 19% year on year. The top line was 15% below our estimate, but earning...
China Vanke reported full-year 2018 results that were below our estimate. Revenue and net profit were CNY 297 billion and CNY 33.7 billion, respectively, up 25% and 20% year on year. Development margin expanded to 37%, a record high for the company, reflecting the rising average selling price in 2017. Earnings per share came in at CNY 3.06, up 20% year on year. The company declared an annual dividend of CNY 1.07 per share, up 19% year on year. The top line was 15% below our estimate, but earning...
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 poin...
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 poin...
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...
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...
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proc...
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proc...
Chinese media outlets reported on Sept. 21 that the Guangdong Real Estate Association had issued a notice, "Emergency Notice on Opinions Regarding Pre-sales Permits for Commodity Housings." The notice referenced a document from the Ministry of Housing and Urban-Rural Development. The MOHURD document contains a paragraph requesting six provincial branches of MOHURD to provide comments on modifying the current presale practice. The current presale practice allows a developer to receive sales proc...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.