China Vanke Co., Ltd. history, company profile (overview) and history video
China Vanke Co., Ltd. (万科企业股份有限公司) is a residential real estate developer headquartered in Shenzhen, China.
HISTORY
Vanke’s origins date back to 1984 when the Shenzhen Modern Scientific Education Instruments Exhibition & Sales Center (the predecessor of Vanke) was officially registered with Shenzhen Administration for Industry and Commerce.
The company was registered as a state-owned company, with Wang Shi as the legal representative. Its main business was the import and sales of office automation equipment and professional film and TV equipment.
In 1987, the company established close business relations with Japanese companies such as Sony and established “Sony Technical Service Center Shenzhen Stop” in cooperation with INSTRIMPEX.
In June 1987, the company changed its name to “Shenzhen Modern Scientific Instruments Center”.
In November 1987, it changed its name to Shenzhen Modern Enterprise Co. Ltd.
In 1988, Shenzhen Municipal Government approved the company’s plan to restructure into a stock company. After the initial public offering (IPO), its name would change to Shenzhen Vanke Co., Ltd.
In 1989, the company’s initial public offering (IPO) succeeded.
In 1990, Shenzhen Sky View Garden, the first housing project of Vanke, was completed.
In 1991, Vanke became the second listed company on the Shenzhen Stock Exchange.
In 1992, Shenzhen Vanke Property Management Co., Ltd. was founded.
In 2006, Vanke and CITIC Capital founded CITIC Vanke China Real Estate Development Fund.
In 2007, Vanke Property Management Co., Ltd, a Vanke subsidiary, was changed to Vanke Property Service Co., Ltd.
In 2012, Vanke acquired 75% of the stock shares of Winsor Properties Holdings, which was listed on the Hong Kong Exchange. Later that year, Vanke changed Winsor’s company name to Vanke Property (Overseas) Limited.
In 2017, Shenzhen Metro Group Co., Ltd. became the largest shareholder of the Group.
OPERATIONS
China Vanke operates through the following segments: Real Estate Development and Property Service.
Real Estate Development
The Real Estate Development segment involves the development and sale of residential properties, retail and office properties, and other auxiliary facilities.
Vanke has become one of China’s largest real-estate companies and urban development service providers. Its overseas business has also expanded to countries such as the USA, UK and Singapore.
In the housing industry, the company owns popular brands such as “Four Seasons Flower City”, “City Garden”, “Golden Home”, or “Golden Home International”.
Property Services
In the Property Services segment, Vanke Property Development Co., Ltd. (“Vanke Property”), a wholly-owned subsidiary of China Vanke Co., Ltd., focuses on residential property services, commercial office property services, developer services, asset-based services, building-based services, and life-based services.
Vanke Property Service is considered one of the largest property service providers in China’s property management industry.
The Group’s businesses have also been expanded to areas such as commercial development, rental housing, logistics and warehousing services, ski resorts, and education.
In the field of commercial properties, the Group uses SCPG as the management platform.
In the field of logistics and warehousing service, the Group launched its independent logistics brand “VX Logistic Properties” in 2016, which has become one of the largest logistics service providers in China.
In the rental housing field, the Group launched its main product line for long-term rental apartment “Port Apartments” in 2016, which has become one of the best-known brands in China.
In the ski resort field, the Group operates three ski resorts, namely the Jilin Vanke Songhua Lake resort, Beijing Shijinglong ski resort, and Beijing Xishan ski resort.
The education field involves innovative public schools, PPP and private internationalized schools. At the same time, the Company expands its education bases, including city camps, community camps, and outdoor camps, and has realized integration and upgrade of online educational resources, making use of the Meisha education online platform.
With more than 140,000 employees, China Vanke Co., Ltd. is considered one of the largest residential real estate developers in China. According to Forbes, it is considered one of the Top 2000 Largest Public Companies in the World and one of the Top Regarded Companies.
*Information from Forbes.com, Wikipedia.org, cnold.vanke.com/en, and www.vanke.com/home.
**Video published on YouTube by “Companies History“.