China Vanke Co., Ltd. is currently the largest property developer listed in the People's Republic of China (“PRC”).
In 2007, China Vanke had 3,068 employees working on more than 100 major building programs in 26 cities, classified into some 230 projects. The company completed construction of over 4.4 million square meters of housing developments, up 36 percent from 2006.
Every project consists of many Hundreds of tasks relating to multiple functional activities such as land purchasing, design, construction & engineering, marketing & sales, customer service, and government relations.
When it comes to project management, traditionally, China Vanke's management relied heavily on verbal project updates and desktop spreadsheets. This was a labor intensive task for time-stressed project managers and therefore, poor project information impaired good governance. It was also difficult to implement common methods, plan resources effectively or predict cash requirements accurately . With rapid growth, effective project management demands more sophisticated reporting and controls.
China Vanke Co., Ltd. is principally engaged in the real estate industry. Headquartered in Shenzhen, Guangdong Province, the Company develops residential buildings in 19 cities throughout China and provides property management services. During the yea
r ended December 31, 2007, the Company sold out approximately 6.1 million square meters of properties. The Company's operation covers the Pearl River Delta Region, comprised of Shenzhen, Guangzhou, Foshan, Zhongshan and Dongguan; the Yangtze River Delta Region, consisting of Shanghai , Suzhou, Hangzhou, Nanjing, Wuxi and Nanchang; Huan Bohai Region, including Beijing, Tianjin, Shenyang, Anshan, Changchun and Dalian, and other cities, including Wuhan and Chengdu. As of December 31, 2007, the Company had 11 wholly owned subsidiaries.
Company Profile of China Vanke Co., Ltd.
Established in May 1984, China Vanke Co., Ltd. (“China Vanke” or the “Company”) is currently the largest residential property developer in the People's Republic of China (“PRC”). In 2006, China Vanke realized sales revenue of RMB21.23 billion, booked revenue of RMB17.67 billion, net profit of RMB2.15 billion and tax payment of RMB2.42 billion. As the end of 2006, the total assets and net assets of the Company were RMB48.51 billion and RMB14.88 billion respectively.
First engaged in the residential property industry in 1988, China Vanke set the development of mass market residential property development as its core business in 1993. In 2006, its operations spanned across more than 20 cities in three major economic circles, namely the Pearl River Delta, Yangtze River Delta and Bohai-Rim region. U
p to the present, China Vanke has built homes for over 90,000 families in the PRC and become the first nationally renowned trademark in the PRC property industry,
The second company listed on the Shenzhen Stock Exchange in 1991 , China Vanke had the largest market capitalization of RMB67.23 billion at the end of 2006 on the Shenzhen Stock Exchange. Since the Company's listing, the compound annual growth rate of its revenue from core operations was 28.3 and that of its net profit was 34.1 . China Vanke also enjoyed the longest period of sustained profit growth after listing in the PRC. Named twice as one of the “International Best Small Companies” by Forbes, the Company received the awards of “Best Corporate Governance” and “Best Investor Relations” from internationally renowned media such as Investor Relations Magazine, and Asiamoney. Thanks to its excellent corporate governance and high ethics codes, the Company was selected as one of “China's Most Respected Enterprises” for five consecutive years and received the award of “China's Best Corporate Citizen” for three consecutive years.
About Vanke
Founded in May 1984, Vanke Enterprise Co., Ltd. is currently the largest professional residential development company in China. In 2006, the company's sales revenue was 21.23 billion yuan, settlement income was 17.67 billion yuan, net profit was 2.15 billion yuan, and taxes were 2.42 billion yuan. By the end of 2006, the company's total assets were 48.51 billion yuan and net assets were 14.88 billion yuan.
Vanke entered the housing industry in 1988. In 1993, it identified mass housing development as the company’s core business. In 2006, its business covered 20 cities focusing on the Pearl River Delta, Yangtze River Delta, and Bohai Rim economic circles. Multiple cities. To date, Vanke has provided housing for more than 90,000 Chinese families, and "Vanke" has become the industry's first nationally well-known trademark.
Vanke became the second listed company on the Shenzhen Stock Exchange in 1991. At the end of 2006, its total market value was 67.23 billion yuan, ranking first among the companies listed on the Shenzhen Stock Exchange. In the 16 years since its listing, Vanke's main business revenue has grown at a compound growth rate of 28.3%, and its net profit has grown at a compound growth rate of 34.1%. It is the Chinese company with the longest period of sustained profit growth after listing. During its development, the company was twice selected as one of Forbes' "Best Small Businesses in the World" and won multiple awards for best corporate governance and best investor relations from international authoritative media such as "Investor Relations" and "Asia Money". With its performance in corporate governance and ethics, the company has been selected as "China's Most Respected Enterprise" for five consecutive years and "China's Best Corporate Citizen" for three consecutive years.