China Evergrande raised 2016 property sales target to 300 billion yuan
New target is even higher than the record annual sales of 262.7 billion yuan posted by China Vanke last year
In the first seven months of this year, Evergrande had already achieved contracted sales of 184.8 billion yuan, reaching 92 per cent of its original sales target.
“The group is fully confident on reaching the adjusted contract sales target for 2016 and will continue to uphold the strategy of ‘fast development, fast sales, fast capital recovery,’” chairman Hui Ka Yan said in a company statement after Tuesday’s market close, adding that its products are widely recognised by home buyers for being “high value-for-money”.
Separately, China Vanke said in a stock exchange filing on Tuesday night that it told the Shenzhen bourse, in response to an exchange query following volatility in its share price, that it has never privately leaked any information on rival Evergrande having become one of its substantial shareholders.
It added that Evergrande confirmed it has not acted in concert with any of Vanke’s 10 largest shareholders.