China Vanke (HKSE:02202, SZSE:000002) is China’s largest developer of residential properties in terms of contract sales. It has over 300 projects that are located in over 60 cities in mainland China. We see China Vanke’s land bank as one of the most diversified among its peers, which may help it deliver faster sales growth over its peers. Being the largest homebuilder in China, it may also benefit from the improving mortgage situation and more accommodative policy environment in China. The A shares of China Vanke are trading at a discount of around 15% to H shares.
From Value Partners (Trades, Portfolio)’ Classic Fund Q3 2014 Commentary.
