BUZZ-China Vanke's HK shares drop on weak first-half outlook

Reuters
07-15
BUZZ-<a href="https://laohu8.com/S/CHVKF">China Vanke</a>'s HK shares drop on weak first-half outlook

** Hong Kong-listed shares of China Vanke 2202.HK fall 2.1% to HK$5.21, their biggest intraday pct drop since June 19

** Stock hits the lowest point since July 10 and on track for a third straight session of decline

** Shenzhen-listed stock falls 1.7% to 6.55 yuan, its lowest since July 10

** The state-backed property developer under liquidity stress expected a net loss of up to 12 billion yuan ($1.67 billion) in the first six months, pressured by a significant decline in project settlements, low profit margins and extra provisions

** The expected loss of 10 billion yuan to 12 billion yuan, compared with a 9.9 billion yuan net loss a year ago, and followed a record full-year loss of 49.5 bln yuan in 2024

** The Hang Seng Mainland Properties Index .HSMPI adds 0.1% and the Hang Hang Seng Index .HSI rises 1.3%

** YTD, Hong Kong shares down 1.3%, Shenzhen-listed stock down 9.9%

($1 = 7.1694 Chinese yuan)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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