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China Vanke Co ( (HK:2202) ) has provided an update.
China Vanke Co., Ltd. has announced the transfer of its interests in the Mangrove Bay Project, a joint real estate development with Shenzhen Metro Group, in an effort to optimize cash flow and recover funds. This transaction includes the transfer of income rights and equity interests to Shenzhen Metro Group, resulting in an expected profit of approximately RMB600 million for China Vanke Co. The move is a part of strategic financial management, enhancing the company’s liquidity and investment efficiency in commercial properties.
More about China Vanke Co
China Vanke Co., Ltd. is a prominent real estate company in China, involved in the development and management of residential and commercial properties. The company has been actively participating in large-scale urban development projects, such as the Mangrove Bay Project, in collaboration with significant shareholders like Shenzhen Metro Group.
YTD Price Performance: 3.04%
Average Trading Volume: 10,767
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.48B
Learn more about 2202 stock on TipRanks’ Stock Analysis page.
