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Vanke’s net earnings surge 25% in H1
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China’s leading property developer Vanke posted a 24.9-percent year-on-year rise in net profit in the first half of the year, the company said yesterday.
China Vanke Co said its net profit was 9.12 billion yuan (US$1.32 billion) in the first six months of 2018.
Revenue surged 51.8 percent annually to 105.97 billion yuan in the first half, according to a company statement.
Besides property development and services, Vanke also launched rental housing as a core business in 2018, striving to become a leading global rental housing company, the statement said.
As of the end of June, Vanke’s long-term rental housing business had covered 30 major cities and over 40,000 units.
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