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China Vanke Co, the country’s leading property developer, announced that net profits in the first half of 2016 increased by 10.4 percent to 5.35 billion yuan (US$808 million), notably lower than the 28.1 percent growth in the first quarter of the year. According to a company statement filed to the Shenzhen Stock Exchange Sunday, the company’s …
Continue reading “China’s Vanke announces net profit of US$808 million for H1 2016”
China Vanke, the mainland’s biggest property company by sales, said it will acquire a unit of Shenzhen Metro Group for 45.6 billion yuan ($6.9 billion) via a new share issue, making the state-owned subway operator its largest shareholder. The final purchase price came at the lower end of the 40 billion yuan to 60 billion …
Continue reading “China developer Vanke acquires Shenzhen Metro unit for $6.9 billion”
