NEWS: Vanke plans to spend nearly 1.2 billion yuan to participate in the city of qian

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(000002.SZ) (2202.HK) announced on Monday night that the holding subsidiary Beijing Vanke plans to partner with the Shanghai International Trust and other five companies to invest in the city of Qianyuan Fund; the fund target subscription The total amount of not more than 5.385 billion yuan, mainly for investment in Beijing 's real estate projects, including Beijing Vanke subscribed to the amount of not more than 11.95 billion yuan.

The five companies include: Shanghai Zhongcheng Yongyi Investment Center, Shanghai International Trust, Beijing Han industry consultancy, Shanghai Zhongcheng Times Equity Investment Fund, Shanghai Zhongxin Kunpu Investment. Among them, the Shanghai Zhongcheng and Shanghai Trust total subscription fee of not more than 4.187 billion yuan, the other three subscribed capital contributions were 100 million.

Announcement said that Beijing Vanke to its own funds to participate in the establishment of investment funds, the main purpose is to integrate the parties to the professional strength and resources, through professional management and market operation, enhance the company's investment and management capabilities, improve capital efficiency, Enhance the sustained profitability, and promote the stable development of the company.

Vanke in the first quarter net profit of 695 million yuan, down 16.54%, mainly financial costs increased; but the company expects full-year net profit this year will continue to grow. In the first quarter, the company's real estate sales amounted to 150.27 billion yuan, an increase of 99.7%.

Vanke A closed at $ 19.34 on Monday, down 6.3% in the past month.


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