Source: Shenzhen Stock Exchange, ChinaScope Financial (Data)
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The
first-quarter report released by China Vanke disclosed that the company’s
recognized sold area was 754,000 square meters in Q1. Revenue and net profit
were CNY 10.35 billion and CNY 1.4 billion respectively, up 29.8% and 15.8%
year-on-year.
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At the
end of the first quarter, the developer had CNY 39.05 billion in cash, and loans
with more than one-year term totaled CNY 17.8 billion. The net debt ratio was
23.0%, down 0.8 percentage point from the beginning of 2012.
In Q1 Vanke (000002.SZ) recorded a revenue growth of approximately 30% YoY.
The recognized sales volume of the remaining three quarters is expected to be driven up by an increase in unrecognized contracted sales in the first quarter.
The average price of recognized sales might decrease in the next two
quarters due to low average price of unrecognized contracted sold inventory.
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