China Vanke Corporation ("the Company") announced unaudited performance for the six months ended June 30, 2024. During the period, the Company and its subsidiaries achieved a revenue of RMB 142,778,764,000, a decrease of 28.93% compared to the same period last year. Shareholders of the Company incurred a loss of RMB 9,852,500,000, a decrease of 199.82% year-on-year, with a basic loss per share of RMB 0.83. The current period's performance loss is mainly due to the scale and gross margin decline of the development business settlement, provision for impairment, loss on certain non-core financial investments, and taking more decisive actions for asset transactions and equity disposals to accelerate fund return, partly resulting in transaction prices lower than book values. Faced with market challenges, the...Show More

China Vanke Corporation ("the Company") announced unaudited performance for the six months ended June 30, 2024. During the period, the Company and its subsidiaries achieved a revenue of RMB 142,778,764,000, a decrease of 28.93% compared to the same period last year. Shareholders of the Company incurred a loss of RMB 9,852,500,000, a decrease of 199.82% year-on-year, with a basic loss per share of RMB 0.83. The current period's performance loss is mainly due to the scale and gross margin decline of the development business settlement, provision for impairment, loss on certain non-core financial investments, and taking more decisive actions for asset transactions and equity disposals to accelerate fund return, partly resulting in transaction prices lower than book values. Faced with market challenges, the Group prioritizes operational safety, formulating a "comprehensive plan" focusing on "guaranteeing delivery, ensuring payment, and transitioning to high-quality development." During the reporting period, the Company did not purchase, sell, or redeem its own shares. During the reporting period, the Company provided certain guarantees for loans borrowed by several joint venture and associates, with the outstanding guarantee amounting to RMB 183 million. The Company had redeemed a total of RMB 2.3 billion of corporate bonds on July 25, 2024.