Vanke first-half revenue 70.17 billion yuan, net loss 14.95 billion yuan

Earnings
โดย 澎湃新闻·CN·Read original
Summary · why it matters

China Vanke Co., Ltd. released its 2026 semi-annual report. In the first half of the year, it achieved operating revenue of 70.17 billion yuan, down 33.38 percent year on year, while the net loss attributable to shareholders of the listed company was 14.95 billion yuan. The loss mainly stemmed from a decline in the settlement scale of property development projects, low gross margins, newly added asset impairment provisions, and losses in some operating businesses and financial investments. In the first half of the year, Vanke made total impairment provisions of 4.273 billion yuan, reducing net profit attributable to the parent company by about 3.164 billion yuan. The property development business achieved a sales area of 2.93 million square metres and sales value of 35.8 billion yuan, down 45.6 percent and 48.2 percent year on year respectively, but the overall sell-through rate for nine first-launch projects reached 60 percent, with projects such as Xuzhou Yanyuxi achieving a sell-through rate of more than 80 percent. The rental housing business achieved operating revenue of 1.464 billion yuan, with a Port Apartment occupancy rate of 94.3 percent. The commercial business achieved operating revenue of 4.05 billion yuan, with an occupancy rate of 92.8 percent. The logistics and warehousing business achieved operating revenue of 2.19 billion yuan, up 6.9 percent year on year. Onewo achieved operating revenue of 19.19 billion yuan, up 5.6 percent year on year. On the financing side, new financing and refinancing amounted to 4.08 billion yuan, the comprehensive financing cost of existing financing was 2.86 percent, and the major shareholder Shenzhen Metro Group provided cumulative shareholder loans of about 4.52 billion yuan. As of the end of the reporting period, the net debt ratio was 135.4 percent, total interest-bearing liabilities were 351.26 billion yuan, and cash and bank balances were 59.05 billion yuan.

Impact on stocks 3

Materials▼ · 1 stocks
VANKE PPT OVS
1036-OL
▼ NegativeCapitalrelevance

Net loss of 14.95 billion yuan due to declining settlement scale, low margins, and impairments.

Smart City / Autonomous Infrastructure▲ · 1 stocks
Onewo Inc
2602
▲ PositiveDemandrelevance

Onewo revenue up 5.6% year on year, showing growth in property management services.

Others▼ · 1 stocks

Off-coverage companies 1

深圳市地铁集团有限公司Private± Mixed
Capitalrelevance

Major shareholder provided loans, but impact on Shenzhen Metro Group is indirect and not detailed.

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