TOPIC
 / company

China Vanke

Residential buildings under construction by Chinese real estate developer Vanke in Hangzhou. Photo: AFP

China’s embattled property developers see sales surge in October

A release of pent-up demand driven by rate cuts has given developers a much-needed sales boost.

Major Chinese developers see sales uptick in September bolstered by stimulus

Struggling Country Garden again seeks to extend bond repayments

videocam

China Vanke reports first interim loss in two decades as home sales plunge

The loss came in 9.4 per cent higher than the top of a range the company defined in a warning last month as home sales plunged nearly 38 per cent.

Residential buildings under construction at China Vanke’s Langshi Flower Language development in Shanghai, pictured on May 24, 2024. Photo: Bloomberg

China Resources Land posts lowest first-half profit since 2018 amid slump

China’s property sector has been beset by woes since 2020, when Beijing introduced the “three red lines” policy to restrict developers’ borrowing binge.

videocam

Debt-laden Kaisa warns of wider losses, echoing China’s property crisis

The developer’s weak report card is likely to resemble those of most mainland Chinese developers, which are expected to extend a losing streak dating to 2020.

videocam
Advertisement
Advertisement

Evergrande shares to stay suspended as liquidators see no path to restructuring

Without a substantial new investment, the collapsed developer will not be able to resume trading amid its massive debt and other challenges.

videocam
China Evergrande’s Group’s shares have been suspended from trading since January 29. Photo: Reuters

Poly Property’s sales slump as Beijing’s rescue package brings mixed results

The Chinese state-backed developer saw sales fall by almost a fifth in May, adding to a mixed picture of the impact of Beijing’s historic measures to rescue its crisis-hit real estate segment.

videocam

Country Garden’s home sales jump as Beijing’s rescue package boosts developers

Country Garden sold more properties in May, becoming the second major Chinese developer to see turnover improve after Beijing launched a historic rescue package to shore up its battered real estate segment.

videocam

China Vanke says property sales rose in May, resumes project investments

Debt-laden property developer China Vanke’s contracted sales rose in May in a sign the country’s crisis-hit sector could be recovering.

Residential buildings under construction at the China Vanke Co. Langshi Flower Language development in Shanghai, China on Friday Friday, May 24, 2024.Photo: Bloomberg

Debt-laden China Vanke sells plot of land once earmarked for HQ at huge loss

China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.

videocam
China Vanke was one of many major developers that ran into serious liquidity problems when the authorities imposed Beijing’s ‘three red lines’ restrictions to rein in debt in the property sector. Photo: Reuters

China Vanke gets US$1.1 billion in loans from subsidiaries after downgrade

Troubled property developer receives lifeline a day after Fitch Ratings downgraded its default ratings.

videocam

China’s buying of unsold homes lifts sentiment but is no cure-all: analysts

Developer stocks rose on Thursday after authorities in Hangzhou announced plans to buy unsold homes, but analysts question whether such aid is the best way to rescue the market.

videocam
6

Chinese builders Poly, Longfor, CIFI post mixed 2023 results amid buyer caution

Company leaders pledge to marshal resources carefully in 2024 as they strike a cautious tone about any potential recovery.

A file photo from July 2022 shows an under-construction housing complex by Chinese property developer Poly Group in Dongguan, in China’s southern Guangdong province. Photo: AFP

China Vanke seeks to sell stake in Singapore’s GLP in bid to ease debt burden

Vanke has held discussions with parties including state-owned investment company Guangdong Holdings and a Tianjin-based state-owned firm to exit its investment, said people familiar with the matter.

videocam
Shenzhen-based Vanke has become the latest flashpoint in the nation’s property downturn, and is seeking to ease concerns about its ability to avoid default. Photo: Reuters

IMF flags China’s ‘troubled property sector’ in keeping GDP outlook unchanged

After the release of China’s first-quarter GDP growth, International Monetary Fund says the lack of a ‘comprehensive response’ could lead to less economic growth than Beijing is hoping for this year.

videocam
6

China’s new home sales slip again as liquidity crisis persists, buyers sidelined

Chinese developers suffered another dismal month in March as new home sales tumbled 46 per cent from a year earlier. It would be premature to expect a turnaround amid an ongoing liquidity crisis.

videocam
4
Advertisement
Advertisement

‘We can get through,’ says China Vanke boss as 2023 profits slump

The embattled property developer posted a 46.4 per cent slump in net profit for 2023, alarming investors just weeks after markets were roiled by rumours of liquidity problems at the firm.

videocam
The developer declared that it might not distribute a dividend for 2023. Photo: Reuters

PBOC head says China’s property crisis has abated as default rumours vex Vanke

Pan Gongsheng, governor of the People’s Bank of China, has attempted to dispel concerns over the country’s laggard property market in closed-door talks with executives and financiers.

videocam
6

China Vanke gets US$194 million loan from Industrial Bank in temporary relief

A loan for China Vanke, one of China’s largest developers, could provide temporary relief to a sector rocked by defaults and by a court order for the liquidation of China Evergrande Group, the world’s most indebted developer.

China Vanke claims junk-level downgrade is manageable as shares and bonds gain

The impact of Monday’s downgrade is ‘controllable’, the second-largest Chinese developer says. Its shares rose more than 10 per cent to HK$6.30 on Tuesday on belief commercial banks will raise up to US$11.1 billion to repay its debts.

Signage at China Vanke’s Qibao Vanke Plaza in Shanghai, pictured on March 11, 2024. Photo: Bloomberg

China Vanke debt cut to ‘junk’ by Moody’s as funding concerns mount

The international ratings agency has stripped state-backed property giant China Vanke of its investment-grade credit rating amid concerns over its liquidity and ability to access funding amid declining sales.

videocam
Moody’s estimated that China Vanke’s contracted sales declined by around 40 per cent to 34.5 billion yuan (US$4.8 billion) in the first two months of 2024. Photo: Bloomberg

Chinese regulators ask large banks to step up support for Vanke, sources say

The State Council is coordinating efforts related to supporting China Vanke, according to sources. Any debt repayment troubles at Vanke could further dampen market confidence, analysts say.

videocam

China Vanke pledges to repay offshore debts due soon amid liquidity concerns

The country’s second-largest developer has assured investors it has the funds in place to repay its outstanding offshore debts coming due soon, as its shares and bonds tumbled amid rumours about liquidity distress.

videocam

Chinese insurers sound the alarm over Vanke debt risks

Some of China’s largest insurers are sounding the alarm over the debt risks of China Vanke, according to people familiar with the matter, as shares and bonds of the firm hit record lows on repayment concerns.

A China Vanke construction site in Hefei. Photo: Bloomberg

China property sales fall in February, markets expect purchase restriction easing

Property sales in mainland China posted another month of declines in February with demand remaining weak due to uncertainties in income expectations and volatility in the market

Aerial view of densely populated residential district in Beijing, China. Photo: Shutterstock

Link Reit to fully acquire Shanghai mall from Vanke for US$331 million

Link Reit, which bought a 50 per cent interest in Qibao Vanke Plaza in April 2021, plans to acquire the remaining 50 per cent stake from the indebted Chinese developer.

China’s once-mighty developers face brutal years after end of ‘golden age’

State-owned companies will dominate as the age of ‘fast leverage and fast growth’ is over, and developers face brutal years ahead, analysts said.

videocam
9
Advertisement
Advertisement
Help preserve 120 years of quality journalism.
SUPPORT NOW
China Vanke
Vanke is a real estate developer in China.
Chairman / President
Yu Liang
CEO / Managing Director
Zhu Jiusheng
CFO / Finance Director
HAN Huihua
Industry
Property
Website
vanke.com
Headquarters address
Shenzhen, Guangdong, China
Stock Code
SEHK:2202
SZSE:000002
Year founded
1984
last updated:
30 September, 2024
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Advertisement