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China Vanke (000002) investor relations material
China Vanke Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the first nine months of 2025 was RMB161.39 billion, down 26.6% year-over-year, with a net loss attributable to shareholders of RMB28.02 billion, reflecting ongoing operational pressures and a challenging real estate market.
The company delivered 74,000 units and achieved contract sales of RMB100.46 billion in the first three quarters, but contract sales and liquidity continued to decline.
Organizational adjustments and resource consolidation were implemented to support strategic objectives and operational goals.
Financial highlights
Gross profit for the nine months was RMB1.16 billion, with a gross profit margin before tax of 0.7% and after-tax margin of -3.6%.
Basic and diluted earnings per share were RMB-2.36, compared to RMB-1.51 in the prior year.
Cash on hand at period end was RMB65.68 billion; total interest-bearing liabilities were RMB362.93 billion.
Net cash used in operating activities was RMB5.89 billion, a 21.5% increase in outflow year-over-year.
Total assets decreased by 11.6% to RMB1.14 trillion; total equity attributable to shareholders fell by 13.3% to RMB175.76 billion.
Outlook and guidance
The company expects continued pressure on contract sales and liquidity, with the overall operating situation remaining severe and debt repayment pressure intensifying.
Supportive government policies and ongoing reforms are anticipated to help stabilize the real estate market.
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