China Vanke Mega China Developer Makes $60 Million Typo

China Vanke, HK 2202, the jumbo China developer fighting off a takeover. issued a quick oops.  January sales reported at 25.99 Billion RMB should have been 25.59 Billion rmb.  This equates to a 400 Million rmb or ($60.9 Million US) typo.  An honest mistake, probably due to translation problems.  A shares, Shenzhen 000002, still suspended until approximately March 18, 2016 purportedly to figure out a restructuring.  The company is reportedly resisting efforts by upstart Baoneng to supplant the more acceptable Anbang Insurance. Vanke closed up 3.3% in Hong Kong with a 4.37% one-year return.  The A shares closed December 17th at 24.43 rmb.  Hong Kong Shares have declined 21.2% since the A-Share  freeze.

China Vanke Hang Seng Colors




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