China Vanke 2202

[behappyalways]

Evergrande Raises Vanke Stake to 5% by Purchasing More A-Shares
http://www.bloomberg.com/news/articles/ ... e-a-shares

[behappyalways]

Vanke Control Clash Bodes Ill
https://www.bloomberg.com/gadfly/articl ... -bodes-ill

[winston]

not vested

Aug 22, 2016

<Result Ann>CHINA VANKE Half Year Net Profit Up 10.4% YoY

CHINA VANKE (02202.HK) (000002.SZ) announced its first quarter results in accordance with International Financial Reporting Standards (IFRSs).

Net profit was RMB5.351 billion, up 10.4% yearly.

EPS equaled RMB0.48. No interim dividend was declared.

Operating revenue escalated 48.6% yearly to RMB70.75 billion.

During the period, the group realised a sales area of 14,090,000 sq.m. and a sales amount of RMB190.08 billion, representing year-on-year increase of 55.8% and 69.9% respectively.

Source: AAStocks Financial News

[winston]

not vested

China Vanke (2202 HK) - 1H16: Fundametals Remain

Intact; Trading Opportunities From Evergrande’s Stake
Chasing Exercise

Vanke’s 1H16 results remain satisfactory despite the shareholding battle since mid- 15.

Contracted sales performance ytd was strong and balance sheet remained healthy.

We expect fundamentals to remain intact in the short term on the back of Rmb300b worth of sold but unbooked resources with decent margins.

Besides, Evergrande’s stake chasing exercise has not ended, which offers a trading opportunity on Vanke-H, given its deep
discount to Vanke-A.

Maintain BUY. Target price: HK$22.99.

Source: UOBKH

https://research.uobkayhian.com/content ... 2c8b4f9cf3

[behappyalways]

Vanke Denies Making Dividend Deal with Shenzhen Metro
http://english.caixin.com/2016-09-12/100987640.html

[winston]

No deal so Vanke ends battle to restructure

by Esther Yu

China Vanke (2202) announced the termination of a restructuring plan with state-backed Shenzhen Metro as shareholders are unable to reach a consensus.

The 46 billion yuan (HK$51.48 billion) deal to introduce Shenzhen Metro as a shareholder by means of asset acquisitions with share issues has been ended, the developer said in an announcement to the local exchange yesterday.

"Certain major shareholders had publicly expressed varying opinions on the transaction," it said. "The relevant parties have yet to reach a consensus on the details."

Directors were notified in an e-mail and voted unanimously in favor of the termination. It was done to safeguard the interests of shareholders and the company.

The termination prolongs in the stalemate over the share tussle of China's largest developer. The stock has seen 16 percent of its value lost this year.

Baoneng, seen as hostile with its takeover bid by Vanke chairman Wang Shi, has the most shares in the firm, followed by China Resources.

Evergrande (3333), a new substantial shareholder, said on Saturday that it is not interested in becoming its controlling shareholder.

The reason for investing in Vanke is because "it is an exceptional enterprise with a bright outlook," according to Evergrande chief executive Xia Haijun.

The property firm controlled by Hui Ka-yan has lifted its stake to 14 percent over the past few months.

Source: The Standard

[winston]

not vested

China Vanke: 3 Reasons To Buy

By Shuli Ren

Source: Barron's

http://blogs.barrons.com/asiastocks/201 ... ns-to-buy/

[winston]

Feb 1, 2018

<Research Report>UBS Lifts CHINA VANKE (02202.HK) Target to $49.56; Reiterated Buy

UBS favored CHINA VANKE (02202.HK) for its high ROE among peers, improving profit margin and solid balance sheet at healthy leverage of 21%.

The investment rating was reiterated at Buy and the target price was raised to $49.56 from $32.5.

Source: AAStocks Financial News

[winston]

not vested

Aug 25, 2018

1H17 profit beat on strong margins

Vanke’s 1H17 core net profit rose 29% yoy to Rmb7.2bn, 13% above our estimate, on higher-than-expected gross margin.

We estimate its gross margins at 26-27% over FY17-19F, 1-2% pts higher than our previous estimates, and raise our EPS estimates by 7-14% over FY17-19F.

Given the strong sales in 1H17, we now expect its FY17F sales to reach Rmb500bn, +37% yoy.

Reiterate our Add rating with a higher TP of HK$28.4. The stock is trading at an undemanding valuation of a 19% discount to NAV, 8x FY17 P/E and 5% yield.

Source: CIMB

https://brokingrfs.cimb.com/k88wXAj6Txs ... 4tCcA2.pdf

[winston]

not vested

CHINA VANKE(2202)

Analysis：

Vanke Enterprise Co., Ltd. is a Chinese company mainly engaged in real estate development and property services.

The company mainly develops commercial residential communities and provides property management services.

The company is also engaged in derivative businesses related to urban ancillary services, including commercial real estate business, logistics real estate business, skiing business, and long-term rental apartment and pension business.

The company mainly conducts business in the Guangzhou-Shenzhen area, Beijing area, Shanghai area and Chengdu area.

Contracted sales in October increased by 20.6% year-on-year to RMB 52.31 billion, and the contracted sales area was 3.66 million square meters.

The cumulative contracted sales in the first 10 months increased by 5% to RMB 545.07 billion, and the area was 36.309 million square meters.

We believe that sales in the fourth quarter have remained satisfactory, and the positive growth in sales throughout the year is still worthy of expectations, which will also drive the recovery of pessimistic expectations in the industry.

Strategy：
Buy-in Price: $29.20, Target Price: $32.10, Cut Loss Price: $27.70

Source: Phillips