Apr 04, 2024 07:14 PM
BUSINESS
China Vanke Extends Housing Sales Slump With 43% Decline
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
China Vanke reported last month that its 2023 net profit tumbled 46%, the biggest drop since the developer’s 1991 listing. Photo: VCG
(Bloomberg) — China Vanke Co. Ltd., at one time the largest listed developer in the country, suffered another slump last month, joining other real estate firms with declining home sales.
Contracted sales for March were 24.5 billion yuan ($3.4 billion), the company said in a filing Wednesday. That represents a 43% decline from a year earlier, and follows a 53% year-on-year plunge the previous month.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
Share this article
Open WeChat and scan the QR code
Sign in with Google
Sign in with Facebook
Sign in with 财新