China Vanke Posts Another Quarterly Loss on Sales Drought [BNN Bloomberg (Canada)]
S&P Global Inc. (SPGI)
Last s&p global inc. earnings: 4/28 07:10 am
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Source: BNN Bloomberg
The net loss was 362 million yuan ($50 million) for the first quarter, the Shenzhen-based company said in an exchange filing Monday. That narrowed from a 1.46 billion yuan loss in the fourth quarter. The company posted a profit of 1.45 billion yuan a year earlier. Vanke, the country's second-largest developer by sales last year, has seen its stock and bonds slide over concerns about its financial condition. S&P Global Ratings became the third major ratings company to cut the developer to junk earlier this month, following similar moves by Moody's and Fitch. The state-backed builder is seeking to ease worries about its ability to avoid default. Earlier this month, executives including Chairman Yu Liang told brokerages that Vanke will “make full use of all existing financing facilities” and is receiving understanding and support from financial institutions. Its sales drought has continued to drag on, with transactions falling 43% in March from a year earlier. Vanke saw its cash a
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Sec Filings
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- 5/6/24 - Form 8-K
- 4/26/24 - Form IRANNOTICE
- SPGI's page on the SEC website