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China Vanke's 2015 profit surges

Xinhua, March 13, 2016 Adjust font size:

China Vanke Co. Ltd., the country's leading property developer, saw its net profit growth of 15.8 percent in 2015 as the real estate market warmed up, the company said Sunday.

Vanke's net profits reached 18.12 billion yuan (2.79 billion U.S. dollars) in 2015, according to its annual report filed to the Shenzhen Stock Exchange.

The company posted sales revenue of 195.55 billion yuan in 2015, up 33.58 percent year on year.

The basic earnings per share rose 14.84 percent year on year to 1.64 yuan per share.

Despite uneven recovery of the market, the company adjusted its strategy and achieved 6.9-percent growth year on year in total floor areas sold in 2015, said the report.

Vanke and Shenzhen Metro signed an strategic cooperation agreement on Saturday, the latest asset restructuring move since trading of the real estate giant's shares were suspended on Dec. 18, 2015. The transaction scale is estimated at 40 to 60 billion yuan. Endi