Vanke's first-half revenue hits 70.17 billion yuan as new leadership focuses on risk resolution and development

Earnings
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Summary · why it matters

China Vanke disclosed its 2026 semi-annual report on the evening of August 27. First-half operating revenue reached 70.17 billion yuan, of which property development and related asset operation business contributed 48.7 billion yuan, accounting for 69.4 percent, and property services business contributed 18.46 billion yuan, accounting for 26.3 percent. Development business sales area was 2.93 million square meters, with sales value of 35.8 billion yuan. The investment strategy shifted toward land revitalization and resource swaps, with eight new projects acquired and attributable land premiums of about 2.71 billion yuan. Full-scope operating services revenue was 28.85 billion yuan, with Onewo revenue at 19.19 billion yuan, up 5.6 percent year on year. On risk resolution, major shareholder Shenzhen Metro Group provided cumulative shareholder loans of about 4.52 billion yuan. In the first half, new financing and refinancing totaled 4.08 billion yuan, and the overall financing cost of existing borrowings was 2.86 percent. Since 2025, the company has completed repayment or risk disposal of about 48.5 billion yuan in maturing public bonds. The new management team will focus on risk resolution and development, revitalize existing resources, optimize the revenue structure, and push the company back onto a healthy and sustainable development track.

Impact on stocks 2

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

Onewo revenue rose 5.6% year on year to 19.19 billion yuan, showing growth in Vanke's property services business.

Others▲ · 1 stocks
China Vanke Co Ltd Class A
000002
± MixedCapitalrelevance

Vanke reported H1 revenue of 70.17 billion yuan with new financing of 4.08 billion yuan and 48.5 billion yuan of public bond repayments/risk disposal, while new management focuses on risk resolution.

Off-coverage companies 1

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

Shenzhen Metro Group, Vanke's major shareholder, provided cumulative shareholder loans of about 4.52 billion yuan to support risk resolution.

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