China developer Vanke sees pressure on profit amid market downturn

STORY CONTINUES BELOW THESE SALTWIRE VIDEOSHONG KONG - Chinese state-backed property developer China Vanke said its profit would be under pressure in the short term amid a market correction, but that would not hurt its cashflow.

Shenzhen-based Vanke, which is considered to be financially sound, on Wednesday reported a 19.4% fall in net profit year-on-year to 9.9 billion yuan for the first six months of this year. Yu said that as policymakers have been stepping up efforts to stabilize the market, he hoped the new easing policies can be implemented as soon as possible.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

China Developer Vanke Profit Slides 19% Amid Home-Market WoesChina Vanke Co., the country’s second-largest developer by sales, reported lower profit in the first half, underscoring how even developers with partial state support aren’t immune to an unprecedented housing slump.
Bron: BNNBloomberg - 🏆 83. / 50 Lees verder »

China developer Vanke sees pressure on profit amid market downturnMarket News
Bron: KitcoNewsNOW - 🏆 13. / 78 Lees verder »

China Steel Website Zhaogang Nears Hong Kong’s First SPAC Merger, Sources SayChinese steel trading website Zhaogang.com is nearing a deal to merge with a Hong Kong-listed blank-check company backed by China Merchants Bank Co.’s overseas asset management arm, people with knowledge of the matter said.
Bron: BNNBloomberg - 🏆 83. / 50 Lees verder »