Firm Angling for Vanke Takeover Touts Its Financial Strength

(Beijing) – A Shenzhen-based real estate company bent on taking over the country's biggest home developer has released financial data aimed at countering accusations it lacks the capital to support the acquisition.

Baoneng Group published a financial statement for the real estate sector of its operations for the first time on January 14 that said it has 120 billion yuan in net assets.