China Vanke Profit Gains on Strong Sales Amid Ownership Fight
China Vanke Co., the developer at the center of a battle for control, posted a 10 percent increase in first-half profit as a home-market recovery boosted sales, helping offset uncertainties over the company's future because of the ownership struggle. Net income at the nation's largest residential developer climbed to 5.35 billion yuan , or 0.48 yuan a share, in the six months ended June 30, from 4.85 billion yuan, or 0.44 yuan a share, a year earlier, the company said in a The Shenzhen-based company's earnings have been helped by surging residential property prices and a long-term strategy that focuses on China's rising middle class in leading regions.