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Vanke hikes H1 profit but warns of rough ride ahead

Wednesday, August 24, 2016 - 05:50
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Vanke executive vice-presidents Zhang Xu and Wang Wenjin at a news conference. Management has proposed a controversial asset swap deal that would heavily dilute existing shareholders.

Shanghai

CHINA'S biggest property firm, Vanke, on Monday blamed a takeover that it is trying to fight off for worsening business conditions, even as it reported higher profits.

Bosses of Vanke, China's largest residential developer by sales, have for months been trying to stave off