(Yicai Global) Sept. 7 -- The real estate company shares on Shanghai and Shenzhen stock markets climbed 1.42 percent by 14.30 p.m. in the afternoon trade on Thursday.
The price of China Vanke Co. [SHE: 000002; HKG: 2202] A shares hit the daily upper limit of CNY26.18 (USD4) before pulling back to CNY25.75 by 14:30 p.m. Vanke's H shares also soared as much as 8.37 percent to HKD26 (USD3.32) in the Hong Kong stock market, reaching a historic high this afternoon.
Apart from Vanke, the stocks of Yango Group Co. [SHE:000671], Fujian-based real estate developer, rose to its daily upper limit of CNY6.83 by 14:30 p.m.
The stocks of real estate developers performed strong, driven by their good first half-year financial results. Overall, the profits and profit margins of these companies have soared higher than the same period last year. Many companies have already upped their annual sales target.