Vanke with 18% profit growth in Q3. PE=8-9 for XIN that would be $15-20 with same growth. XIN soon will tell its story. GLTA
China Vanke Co. (000002), the biggest developer by market value traded on the nation’s exchanges, said third-quarter profit rose 18 percent as stronger demand from homebuyers defied government efforts to curb prices.
Net income jumped to 1.6 billion yuan ($263 million), or 0.146 yuan a share, from a year earlier, the company said in a filing to the Shenzhen stock exchange today. Revenue increased 43 percent to 22 billion yuan.
China’s home prices rose in all but one city in September for a fifth month as the government refrained from introducing more nationwide property tightening policies that would hinder economic growth. Vanke’s contracted sales increased 33 percent in the first nine months from a year earlier to 128.5 billion yuan, the company said.
I think I can name a couple of houndred chinese companies listed here that have a higher probability being a fraud. The buildings are there, their profitability is china average and their CEO has a private jet (like the other CEOs in the real estate sector in China). To speak the truth, they sometimes act in a very chinese way which sometimes is hard to understand. But I am quite sure it is not a fraud. I had my chinese wife to check the chinese pages about this company and there is nothing strange there.