Fitch: Vanke Results Show Its Superior Cash Management, Asset Turnover

April 13, 2015 7:31 AM

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(The following statement was released by the rating agency) HONG KONG, April 13 (Fitch) Fitch Ratings says China Vanke Co., Ltd's (Vanke; BBB+/Stable) 2014 annual results demonstrate its superior cash management and asset turnover ability during a weak housing market in 2014.

Vanke delivered one of the highest contracted sales in the Chinese property development industry in 2014 at CNY215.13bn, an increase of 25.9% from a year earlier. Contracted sales by gross floor area rose 21.2% to 18.06m sqm, while the average selling price (ASP) for contracted sales increased 4% to...

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