Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. China
  4. Shenzhen Stock Exchange
  5. China Vanke Co., Ltd.
  6. News
  7. Summary
    000002   CNE0000000T2

CHINA VANKE CO., LTD.

(000002)
  Report
End-of-day quote Shenzhen Stock Exchange  -  2022-12-04
18.92 CNY   +2.88%
12/02China Vanke Records 30.44 Billion Yuan Sales in November
MT
12/02China Vanke Co., Ltd. Reports Sales Results for the Month and Year-To-Date Ended November 30, 2022
CI
11/29Chinese Shares Rebound; Property Stocks Rally as Regulator Lifts Ban on Builder Refinancing, M&As
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Chinese property stocks rally as banks pledge $38 billion in credit support

11/23/2022 | 10:49pm EST
A worker tightens a scaffolding joint at a construction site of an apartment building under refurbishment in Beijing

HONG KONG (Reuters) - Chinese property shares jumped on Thursday after the country's biggest commercial banks agreed to provide at least $38 billion in fresh credit lines to cash-strapped developers, adding to recent regulatory support measures to revive their business.

The stock prices of China Vanke, Country Garden, China Overseas Land, China Resources Land, CIFI Holdings and Greentown China rose between 3.4% and 11.1% in Hong Kong.

A gauge tracking the sector, the Hang Seng Mainland Property Index, rose 5.3%.

Four of China's biggest banks have agreed to provide fundraising support to property developers, including industry giants Vanke and Country Garden, in a coordinated effort to support the embattled property sector.

Banks are making efforts to follow a regulatory call to bolster the sector, but most of the new loans will go to state-backed developers, Shujin Chen, analyst with Jefferies, said in a note issued on Thursday.

"Private developers that already defaulted on public debts will still struggle," she said.

Beijing has been stepping up measures in recent weeks to support the property sector, which has been hit by a debt crisis.

The sector has been reeling under mounting debts, defaults, slower sales and construction suspensions, after the authorities initiated a campaign to rein in excessive borrowing by developers.

Several developers have defaulted on their offshore debt obligations over the past year, fuelling a sector-wide downturn that has weighed on the world's second-largest economy.

To ease the liquidity crunch, the central bank on Wednesday issued a notice outlining 16 steps to support the sector.

These include local financial firms allowing real estate companies to defer repayment of some loans, such as property development and trust loans, Reuters reported last week, citing sources with knowledge of the matter.

(Reporting by Xie Yu; Editing by Sumeet Chatterjee and Edmund Klamann)

By Xie Yu


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA OVERSEAS LAND & INVESTMENT LTD. 3.72% 20.9 Delayed Quote.9.15%
CHINA RESOURCES LAND LIMITED 1.20% 33.7 Delayed Quote.1.83%
CHINA VANKE CO., LTD. 2.88% 18.92 End-of-day quote.-4.25%
CIFI HOLDINGS (GROUP) CO. LTD. 14.07% 1.53 Delayed Quote.-70.06%
COUNTRY GARDEN HOLDINGS CO. LTD. 1.61% 3.17 Delayed Quote.-55.20%
GREENTOWN CHINA HOLDINGS LIMITED 1.51% 13.5 Delayed Quote.5.73%
All news about CHINA VANKE CO., LTD.
12/02China Vanke Records 30.44 Billion Yuan Sales in November
MT
12/02China Vanke Co., Ltd. Reports Sales Results for the Month and Year-To-Date Ended Novemb..
CI
11/29Chinese Shares Rebound; Property Stocks Rally as Regulator Lifts Ban on Builder Refinan..
MT
11/28China, Hong Kong stocks jump as policy relief fires up property, banking shares
RE
11/28China property stocks surge on fundraising support; COVID protests cloud demand
RE
11/28China property shares surge on opening up of equity financing option
RE
11/28Evergrande to sell Shenzhen commercial plot for $1.05 billion amid debt woes
RE
11/23Chinese property stocks rally as banks pledge $38 billion in credit support
RE
11/23Chinese property stocks rally as banks pledge credit support to developers
RE
11/23Chinese Property Sector Rises After Banks Extend Funding Support
DJ
More news
Analyst Recommendations on CHINA VANKE CO., LTD.
More recommendations
Financials
Sales 2022 470 B 67 521 M 67 521 M
Net income 2022 23 621 M 3 393 M 3 393 M
Net Debt 2022 152 B 21 897 M 21 897 M
P/E ratio 2022 9,32x
Yield 2022 3,72%
Capitalization 211 B 30 254 M 30 254 M
EV / Sales 2022 0,77x
EV / Sales 2023 0,86x
Nbr of Employees 139 494
Free-Float 65,6%
Chart CHINA VANKE CO., LTD.
Duration : Period :
China Vanke Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends CHINA VANKE CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 18,92 CNY
Average target price 20,60 CNY
Spread / Average Target 8,86%
EPS Revisions
Managers and Directors
Jiu Sheng Zhu President, CEO & Executive Director
Hui Hua Han Chief Financial Officer & Executive Vice President
Liang Yu Chairman, President & Chief Executive Officer
Dong Xie Chairman-Supervisory Board
Xiao Liu Chief Operating Officer & Executive Vice President
Sector and Competitors
1st jan.Capi. (M$)
CHINA VANKE CO., LTD.-4.25%30 254
VONOVIA SE-51.13%19 821
VINHOMES-28.90%10 584
VINGROUP-28.39%10 535
DEUTSCHE WOHNEN SE-44.24%8 601
OPEN HOUSE GROUP CO., LTD.-7.31%4 928