TABLE-China Vanke 2007 net doubles, sees 2008 growth

March 21 (Reuters) - Year ended Dec. 31, 2007.

(in millions of yuan unless stated, against 2006 figures):

2007 2006

Turnover 35,526.61 vs 17,918.33

Net profit 4,844.24 vs 2,297.88

Earnings per share (yuan) 0.73 vs 0.39

Net Assets per share (yuan) 4.26 vs 3.42

Company: China Vanke Co 200002.SZ 000002.SZ, based in the
southern Chinese boom town of Shenzhen, is the biggest developer
listed in mainland China and has real estate projects in major
cities including Beijing, Tianjin, Wuhan and Chengdu.

Note: The company reported audited results, compiled under
Chinese accounting standards. Year-earlier figures were revised
to reflect new accounting rules.

The 2007 net profit and turnover figures were in line with a
brief summary released by Vanke on Thursday.

Vanke did not provide an earnings forecast for 2008 but it
forecast that the area of completed projects would rise to 6.89
million square metres in 2008 from 4.45 million metres last year,
while the area of newly launched projects would rise to 8.48
million square metres from 7.77 million square metres.

Vanke attributed the surge in 2007 net profit to strong sales
of apartments.

Sales of residential housing rose 146.6 percent to 52.36
billion yuan ($7.43 billion), with total floor space sold rose
90.1 percent to 6.14 million square metres.

The company also proposed a dividend of 1 yuan per 10 shares,
plus six bonus shares for every 10 shares for 2007.
($1=7.050 Yuan)
(Reporting by Fang Yan in Shanghai; Editing by Edmund Klamann)