OTC Markets OTCPK - Delayed Quote ? USD China Vanke Co., Ltd. (CHVKF) Follow Compare 0.9497 -0.0384 (-3.89%) As of 1:46 PM EDT. Market Open. All News Press Releases SEC Filings All SEC Filings Corporate Changes & Voting Matters Periodic Financial Reports Proxy Statements Tender Offer/Acquisition Reports Offering Registrations China stimulus draws investors back to offshore bonds of troubled property sector Some Chinese and global institutional investors are revisiting Chinese property bonds, betting on an improvement in outlook as the government accelerates efforts to boost economic growth and revive a property sector in the throes of a debt crisis. Investors began returning after the announcement on Tuesday of the most aggressive stimulus measures since the pandemic, mostly targeting the property sector and triggering a rally in the offshore bonds of property developers. Credit investment specialist Beijing G Capital Private Fund Management Center placed orders worth "a few dozens of millions of yuan" to buy property bonds for the first time in several months, said its chairman, Li Gen. Reuters ? 18 days ago CHVKY LGFRY Chinese Stocks Jump After Top Leaders Vow Further Support for Economy First it was the central bank. Now China's top political leaders are pledging to shore up the country's moribund economy and, in particular, its battered property sector. Here's how markets reacted to the Politburo's intervention: + In New York, the Nasdaq Golden Dragon Index jumped nearly 10%. The Wall Street Journal ? 26 days ago LGFRY LNGPF PGJ Tech, Media & Telecom Roundup: Market Talk Find insight on Masimo, Olo, MDA Space and more in the latest Market Talks covering Technology, Media and Telecom. The Wall Street Journal ? last month CHVKF -3.89% CHVKY 600048.SS China's home de-stocking push to bring developers little cheer HONG KONG/BEIJING (Reuters) -China's efforts to clear massive inventory by turning unsold homes into affordable housing are unlikely to help cash-strapped developers due to the programme's limited size and potentially low prices, analysts and developers say. As part of a support package for the crisis-hit property sector, Beijing announced last month a plan for a 300 billion yuan ($41 billion) lending facility, which could result in 500 billion worth of bank financing for local state-owned enterprises (SOEs) to purchase completed and unsold homes. Chinese banks are expected to extend cheaper loans to SOEs via the facility, backed by the central bank, to help them buy the homes from developers at "reasonable prices" to turn into affordable housing. Reuters ? 4 months ago CHVKY China Vanke sells Shenzhen land plot at loss-making reserve price HONG KONG and BENGALURU (Reuters) -Embattled Chinese property developer China Vanke said on Monday it had completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago. The company is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China's crisis-hit real estate sector. Vanke's largest shareholder, state-owned Shenzhen Metro, and Shenzhen Baishuo Yinghai Investment jointly bought the plot at the reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday. Reuters ? 4 months ago CHVKY China Vanke units guarantee US$1.1 billion in loans for troubled developer after Fitch Ratings downgrade Troubled property developer China Vanke will receive a 7.8 billion yuan (US$1.1 billion) lifeline in the form of bank loans guaranteed by its subsidiaries, a day after the company had its credit rating cut. Shenzhen Yili Real Estate Development provided a guarantee for a 4.49 billion yuan loan, while Shenzhen Zhongke Wanxin Industrial offered a guarantee for a 3.29 billion yuan borrowing, Vanke said in a Friday stock exchange filing. The loan arrangement came after Fitch Ratings on Thursday down South China Morning Post ? 4 months ago CHVKY China Vanke granted $2.8 billion onshore syndicated loan facility Cash-strapped major property developer China Vanke said on Thursday it had received a 20 billion yuan ($2.76 billion) syndicated loan facility and it would continue to push forward other financing to boost its liquidity. It was unclear whether this new syndicated loan facility, led by China Merchants Bank according to Vanke in a statement on Thursday, is part of the 80 billion yuan target or separate from it. Half of the 20 billion yuan facility - the largest to the real estate sector since 2020 - has been transferred to Vanke, a person with direct knowledge of the matter said, and the loan was pledged to shares in VX Logistics, a integrated logistics service provider under Vanke. Reuters ? 4 months ago CHVKY China Vanke to auction Shenzhen land plot with loss-making reserve price Cash-strapped China Vanke is selling a large Shenzhen land plot at a reserve price of 2.24 billion yuan ($310 million) via auction, the developer's latest move to raise funds to ease its liquidity stress. The auction of the 19,000 square-metre block, which the state-backed property developer bought in late 2017 for 3.1 billion yuan, will start on May 18, according to a notice in the Shenzhen Public Resources Trading Center on Wednesday. Vanke said last month it is facing short-term liquidity pressure and operational difficulties, adding that it had prepared "a basket of plans" to stabilise its business and cut debt. Reuters ? 5 months ago CHVKY China Vanke's first public commercial REIT close flat on debut SHANGHAI (Reuters) -China Vanke's first public commercial real estate investment products closed flat on their debut on Tuesday, reflecting caution towards China's second-largest developer amid a prolonged property market downturn. The CICC-SCPG Consumption Infrastructure real estate investment trust (REIT) listed in Shenzhen fell as much as 3% in early trade before reversing losses by market close. It is backed by shopping centres owned by SCPG Holdings, the commercial property platform of Vanke. Reuters ? 5 months ago CHVKY China Vanke seeks to offload stake in logistics operator GLP, Bloomberg reports Vanke has held discussions with parties including state-owned investment company Guangdong Holdings Ltd and a Tianjin-based state-owned firm to exit its investment, the report said, citing people familiar with the matter. Vanke, China's second largest property developer by sales which bought a 21.4% stake in GLP for about S$3.4 billion ($2.49 billion) in 2018, declined to comment on the report. Reuters ? 6 months ago CHVKY China Vanke says it has plans in place amid short-term liquidity pressure HONG KONG (Reuters) -State-backed property developer China Vanke said it is facing short-term liquidity pressure and operational difficulties, but added that it has prepared "a basket of plans" to stabilise its business and cut debt. Vanke's Hong Kong-listed shares closed down 0.8% on Monday after hitting a record intraday low, while its Shenzhen-listed shares edged up 0.6%, stabilising after nine consecutive sessions of decline. Investors have been selling off Vanke's shares and bonds in the past few weeks on liquidity concerns, triggering a rare central government directive to help the Shenzhen-based company. Reuters ? 6 months ago CHVKY China Vanke shares, bonds fall after rating cut and government probe China Vanke's shares and dollar bonds dropped on Thursday after S&P stripped its investment-grade status and the developer confirmed reports that an executive was being investigated, adding to woes for the embattled property sector. Vanke's Shenzhen-listed stock closed down 1.8% at 7.4 yuan after dropping in early trade to 7.31 yuan - the lowest since May 2014. Vanke's dollar bonds fell, with bidding on one tranche due December 2025 quoted around 66.3 in late trade, about 5 cents lower from Wednesday, Duration Finance data showed. Reuters ? 6 months ago CHVKY S&P slashes property giant China Vanke's credit rating to junk There was more bad news for the battered Chinese property sector on Wednesday, as S&P Global became the last of the major credit rating firms to strip China Vanke of its investment grade status. S&P slashed the rating of China's second biggest developer by sales by a hefty three notches to BB+ from BBB+, leaving it one rung into 'junk' territory, or 'non-investment grade' as it is also known. It blamed the downgrade on Vanke's "weakening competitive position and surging leverage" and put the new rating straight on a "negative outlook" again. Reuters ? 6 months ago CHVKY Stock market today: Asian shares drop after Wall Street sinks on rate worries Asian shares mostly declined Wednesday after Wall Street sank, hitting the brakes on what’s been a nearly unstoppable romp. Hong Kong's Hang Seng lost 0.6% to 16,832.52, while the Shanghai Composite fell 0.3% to 3,066.66. Analysts said worries were growing that what rattled Wall Street might spread to Asia, despite recent relatively positive economic signs from China. Associated Press Finance ? 6 months ago ^GSPC CHVKY COMP China Vanke shares hit record low after disappointing earnings, payout cut (Reuters) -The Hong Kong-listed shares of state-backed property developer China Vanke slid as much as 12% to a record low on Tuesday after it reported a 50.6% drop in 2023 core profit and no dividend payout late last week. The Hong Kong stock of China's second-largest developer by sales touched a low of HK$4.77. Its shares in Shenzhen, which continued trading during Hong Kong's holidays on Friday and Monday, dropped 5.2% on Tuesday to 8.51 yuan, the lowest since July 2014. Reuters ? 6 months ago CHVKY Analysis-Chinese developer Vanke's credit pursuit clouded by clamour for collateral A rare Beijing directive to help Vanke beat a liquidity crisis has left lenders scrabbling for the assets that the state-backed developer has proposed for collateral, as parties pull out all the stops to arrest deterioration in the property sector. China Vanke is gasping for funding after sales in both January and February fell below the monthly break-even point of 20 billion yuan ($2.8 billion), meaning cash flowed out of the business, an internal memo showed. China's property sector has been in the throes of a crisis since mid-2021. Reuters ? 7 months ago CHVKY Chinese stocks slide as investors maintain caution after US inflation report China stocks were lower Wednesday after the overnight United States inflation report that signaled a diminished possibility of the Fed's rate cut made investors cautious. Hong Kong stocks edged less than 0.1% lower at 17,082.11, ending its three consecutive days of gain. China’s local media reported Tuesday that the country’s state-owned banks may raise up to 80 billion yuan ($11.2 billion) in syndicated loans to assist the property developer China Vanke in meeting its impending repayment deadlines. Associated Press Finance ? 7 months ago CHVKY China scrambles to prevent another big property developer going bust Chinese banks are reportedly scrambling to bail out one of the country’s biggest property developers after its credit rating was downgraded to “junk” status by Moody’s on Monday. CNN Business ? 7 months ago CHVKY MORNING BID AMERICAS-Inflation thermometer tops market dashboard In an illustration of just how quickly this year's slightly hotter inflation readings so far can feed consumer expectations, the New York Federal Reserve's latest household survey might be another red flag at the central bank. Longer-run household inflation expectations deteriorated in February, the Fed survey showed. Even though the Fed is no longer expected to execute its first interest rate cut later this month - futures have shifted to an 80% chance of a June move instead - a lot rides on today's consumer price inflation readout for February. Reuters ? 7 months ago CHVKY BA NVDA EMERGING MARKETS-Stocks scale seven-month high, FX stalls with US inflation data in focus Emerging market stocks climbed to a seven-month high on Tuesday, while currencies languished, with investors awaiting a crucial U.S. inflation report for insights into the timing for the Federal Reserve's rate cuts this year. U.S. consumer prices data, due later in the day, and producer prices on Thursday will help investors gauge the timing of the first Federal Reserve interest-rate cut, seen in June as per a Reuters poll. The Fed's March policy decision is due next week. Reuters ? 7 months ago ^HSI CHVKY Performance Overview Trailing total returns as of 10/22/2024, which may include dividends or other distributions. Benchmark is SSE Composite Index Return CHVKF SSE Composite Index YTD +3.41% +10.45% 1-Year -4.07% +10.15% 3-Year -60.26% -7.71%
