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Vanke hikes H1 profit but warns of rough ride ahead

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Published Tue, Aug 23, 2016 · 09:50 PM

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    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 what would be the country's first hostile bluechip takeover, after private conglomerate Baoneng bought a stake of more than 20 per cent, becoming its biggest shareholder.

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