Vanke’s net profit up by 22.31% to $740m in H1

China Vanke Co Ltd, the largest residential developer in China, released its first-half performance report on Tuesday. Its net profit for the owners of its parent company reached 4.56 billion yuan ($740 million) in the first six months of the year, an increase of 22.31 percent year-on-year, the report said. Its operating revenue reached 41.39 billion yuan, up 34.72 percent year-on-year. The earnings of each share was 0.41 yuan, up 20.59 percent year-on-year.