China Vanke's mid-year report in 2024 showed that the company and its subsidiaries (the Group) had revenue of CNY 142.779 billion, a decrease of 28.93% compared to the same period last year. The company's shareholder deficit was CNY 9.853 billion, compared to a profit of CNY 0.987 billion in the same period last year. The main reasons for the loss include a decline in the scale and gross margin of the development business settlement, provision for impairment, loss from non-core financial investments, and the price of asset transactions and equity disposals being lower than the book value. In the face of market challenges, China Vanke prioritizes operational safety and has introduced a "package solution," focusing on the core business and actively...Show More

China Vanke's mid-year report in 2024 showed that the company and its subsidiaries (the Group) had revenue of CNY 142.779 billion, a decrease of 28.93% compared to the same period last year. The company's shareholder deficit was CNY 9.853 billion, compared to a profit of CNY 0.987 billion in the same period last year. The main reasons for the loss include a decline in the scale and gross margin of the development business settlement, provision for impairment, loss from non-core financial investments, and the price of asset transactions and equity disposals being lower than the book value. In the face of market challenges, China Vanke prioritizes operational safety and has introduced a "package solution," focusing on the core business and actively resolving potential risks. During this reporting period, the company did not distribute cash dividends, issue bonus shares, or increase share capital with public reserve funds. During the reporting period, the company provided guarantees for loans borrowed by certain joint ventures and joint venture companies, with an unexpired guarantee amount of CNY 183 million. In addition, during the reporting period, the company sold the Shenzhen headquarters project to Shenzhen Metro Group and Shenzhen Baishuo Yinghai Investment Co., Ltd., with a transaction price of CNY 2.235 billion.