* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, June 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

    Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

    Traveling Tacos and Tequila Festival to stop at Florence Yall’s stadium this October – Cincinnati Enquirer

    Get Ready for a Flavor Fiesta: Traveling Tacos and Tequila Festival Hits Florence Y’all’s Stadium This October!

    9 things to do this weekend in Lake County plus a look ahead – Leesburg Daily Commercial

    Discover 9 Exciting Weekend Adventures in Lake County and What’s Coming Up!

    Shows to Watch – The Advocate

    Must-See Shows You Can’t Miss!

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    Fox News Entertainment Newsletter: Celebrities mentioned during Diddy’s high-profile sex trafficking trial – Fox News

    ‘Sinners,’ starring Michael B. Jordan, is now streaming on Prime Video – About Amazon

    Experience the Thrills of ‘Sinners’ Starring Michael B. Jordan – Now Streaming on Prime Video!

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

    Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

    U.S. FDA Grants Platform Technology Designation to the Viral Vector Used in SRP-9003, Sarepta’s Investigational Gene Therapy for the Treatment of Limb Girdle Muscular Dystrophy Type 2E/R4 – Sarepta Therapeutics

    Breakthrough for Gene Therapy: FDA Designates Viral Vector in Sarepta’s SRP-9003 for Limb Girdle Muscular Dystrophy Treatment

    Waunakee Fifth-Graders Dive into the Future at Exciting Tech Day!

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Property Technology Magazine Unveils “PropTech Top 50 Index” and the “2025 PropTech Trends Report – The Great Rebuild.” – Business Wire

    Micron Technology (NASDAQ:MU) Stock Price Expected to Rise, UBS Group Analyst Says – MarketBeat

    UBS Analyst Predicts Surge in Micron Technology Stock Price!

    Domo to Participate in the D.A. Davidson Technology Summit – Business Wire

    Domo Set to Shine at the D.A. Davidson Technology Summit!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

China Vanke Said in Talks to Sell 21% Stake in GLP to State-Backed Investors

April 18, 2024
in Technology
China Vanke Said in Talks to Sell 21% Stake in GLP to State-Backed Investors
Share on FacebookShare on Twitter

Yu Liang

Vanke CEO Yu Liang is outpacing his competitors despite a 43% drop in Q1 sales (Getty Images)

With its bonds falling to all-time lows this week amid a deepening liquidity crisis, China Vanke is reported to be in discussions to sell its stake in industrial fund manager and developer GLP, as its scrambles to pay down $14 billion in debt after its contracted sales fell 43 percent in the first quarter.

The Shenzhen-based developer is in talks with potential buyers, including Guangdong Holdings Ltd, an investment body controlled by the government of the southern Chinese province and a Tianjin based company to buy out its interest in Singapore-incorporated GLP, which ranks among the world’s largest industrial real estate developers and fund managers with 84 million square metres (904 million square feet) of warehouses in its portfolio, according to an account by Bloomberg on Wednesday.

Vanke in 2017 made a deal for a 21.4 percent stake in GLP as the biggest investor in a consortium involving co-investors Hillhouse Capital, HOPU Investments and an affiliate of Bank of China which bought out Singapore sovereign fund GIC’s stake in the company. That deal, which closed in 2018, is said to have valued Vanke’s stake at $2.5 billion. GLP representatives declined to comment on the reported transaction and China Vanke representatives had not yet responded to inquiries from Mingtiandi at the time of publication.

In a meeting over the weekend Vanke is said to have assured investment analysts that it is preparing RMB 130 billion ($18 billion) in assets as collateral for fresh bank loans as the company’s shares have lost more than 30 percent of their value on the Shenzhen exchange so far this year. No agreement on the potential sale of the GLP stake has been reached at this point, according to the Bloomberg article.

Buried in Market Avalanche

Long praised as the most competent of China’s major developers, Vanke one year ago was the subject of stories noting its ability to survive the country’s real estate crisis as competitors like China Evergrande or Sunac China slipped into default.

GLP China

Vanke acquired a 21.4% stake in GLP in 2018

With home sales in China now having fallen each month since May of last year, homebuyer reluctance has demolished the finances of even the sturdiest of the country’s builders.

For the full year of 2023, China Vanke, which is controlled by government-owned Shenzhen Metro, ranked second among the mainland’s largest developers with contracted sales of RMB 375.5 billion, despite a 10.6 percent decline from its performance a year earlier.

Those full year sales figures conceal the ongoing erosion in confidence among China’s homebuyers, with Vanke’s RMB 57.96 billion in contracted sales in the first three months of this year falling RMB 43.44 billion short of its performance during the same period in 2023, according to company statements.

Vanke’s disappointing performance still had the company outpacing its competitors, with China’s 100 largest builders suffering an average decline in contracted sales during the first quarter of 47.5 percent from the same period in 2023, according to statistics compiled by China Real Estate Information Corp (CRIC).

The ongoing slide in China’s home sales comes despite government measures to prop up the market including loosening home purchase restrictions and boosting lending to the sector.

In reporting its 2023 results last month, China Vanke surprised analysts by stating that its net income attributable to shareholders fell 46 percent to RMB 12.2 billion last year. The company vowed at the time to trim $14 billion in debt.

Negative Outlook

S&P Global downgraded Vanke’s credit rating earlier this month to BB+ from BBB+ and slapped it with a negative outlook, noting its weakening competitive position and rising leverage.

While the credit rating agency expressed confidence that Vanke will be able to meet its debt maturities this year, it stated concerns that the pall over the industry could hurt the developer’s revenue potential.

“The negative outlook on China Vanke reflects our expectation that the company’s contracted sales could decline further over the next 12 months amid a prolonged industry downturn. China Vanke’s financial position could also weaken if the company fails to execute its asset disposal plans,” S&P said on 10 April.

The ratings agency predicts that China Vanke’s contracted sales could drop another 25 to 28 percent this year, compared to 2023, which would represent a 60 percent decline from its 2020 performance.

Vanke’s 3.53 percent onshore notes maturing in 2027 fell around 8 percent in trading on Wednesday to settle at an all-time low, while the company’s A-shares are down 4.31 percent on Shenzhen exchange in the past five days.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MingTiandi – https://www.mingtiandi.com/real-estate/finance/china-vanke-said-in-talks-to-sell-21-stake-in-glp/

Tags: ChinatechnologyVanke
Previous Post

Keppel REIT Said Choosing Buyer for Seoul Tower and More Asia Real Estate Headlines

Next Post

CDL-Dominated Building on Singapore’s Orchard Road Up for Sale at $321M

The end of the affair? – The Economist

Is This the Final Chapter of Their Love Story

June 7, 2025
Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

June 7, 2025
The Business of Sports | Houston Business Journal to host powerhouse panel – KHOU

The Business of Sports | Houston Business Journal to host powerhouse panel – KHOU

June 7, 2025
Too much of a green thing – Economy and ecology – ips-journal.eu

Striking the Balance: Navigating the Intersection of Economy and Ecology

June 6, 2025
Why Resident Alien’s showrunner trapped Alan Tudyk in his human form – Polygon

Unveiling the Mystery: How Resident Alien’s Showrunner Keeps Alan Tudyk Grounded in His Human Role

June 6, 2025
Weed Science Society shares funding cut concerns with lawmakers – Brownfield Ag News

Weed Science Society shares funding cut concerns with lawmakers – Brownfield Ag News

June 6, 2025
Afrimaxx – Modern African Lifestyle – DW

Afrimaxx – Modern African Lifestyle – DW

June 6, 2025
World Energy Investment 2025 – Analysis – IEA – International Energy Agency

Unlocking the Future: Insights from the 2025 World Energy Investment Report

June 6, 2025
Trump’s attacks on international student enrollment could ultimately shake the economy – CNN

Trump’s attacks on international student enrollment could ultimately shake the economy – CNN

June 6, 2025
After Denzel Washington Said He Would Be In Black Panther 3, Ryan Coogler Explained Why He’s ‘Fine’ With That Information Being Revealed So Early – Yahoo

Ryan Coogler Shares Why He’s Cool with Denzel Washington’s Black Panther 3 Reveal!

June 6, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (672)
  • Economy (686)
  • Entertainment (21,592)
  • General (15,267)
  • Health (9,727)
  • Lifestyle (689)
  • News (22,149)
  • People (687)
  • Politics (694)
  • Science (15,904)
  • Sports (21,190)
  • Technology (15,672)
  • World (671)

Recent News

The end of the affair? – The Economist

Is This the Final Chapter of Their Love Story

June 7, 2025
Fire Tech Brief: 5 Fire Apparatus Technology Upgrades – firehouse.com

Revving Up Safety: 5 Innovative Upgrades for Fire Apparatus Technology

June 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version