China Vanke Co Ltd Class A
000002: XSHE (CHN)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
¥6.30 | Nlbhm | Rxhwjrcph |
Q3 Results Reflecting Stabilizing Operation; Nonproperty Development Revenue Showing Growth
We have been slightly more optimistic about China Vanke’s 2020 income, so the company’s third-quarter results fell short of our estimates, but they are largely within Capital IQ consensus on an annualized basis. As such, the share price reaction is muted. The top line and earnings accounted for 52% and 44% of our full-year estimate, respectively, slightly lower run rates compared with previous years.