China Vanke Co. Ltd. (000002.CN) said in a regulatory filing on Tuesday that its net profit in the first nine months rose 21.3 percent year on year to 6.16 billion yuan (US$1.01 billion). Revenue in the period increased 37.5 percent to 63.4 billion yuan, while sales by floor area gained 21 percent to 10.98 million square meters. The sales total rose 33.4 percent to 128.5 billion yuan. China Vanke board secretary Tan Huajie told news portal Sina Finance that the abundance of housing means that it will be tough for home prices to maintain their surge.
– Contact HKEJ [email protected]