According to an announcement, China Vanke Co., Ltd. (02202) has released its results for the first three quarters of 2026, reporting revenue of 104.999 billion yuan, a year-on-year decrease of 34.94%; losses attributable to shareholders of the company amounted to 23.944 billion yuan, narrowing by 14.53% year-on-year; basic loss per share was 2.01 yuan.
During the reporting period, with strong support from all parties and its major shareholder, the group steadily advanced its reform and risk mitigation efforts, delivering 34,000 homes on schedule and to quality standards in the first three quarters, continuously improving project quality and delivery reputation; maintained proactive sales efforts, achieving sales revenue of 52.01 billion yuan; took multiple measures to revitalize existing resources, generating a total of 19.50 billion yuan in newly activated and optimized production capacity; and actively seized bulk asset transaction opportunities, with signed contracts totaling 2.62 billion yuan.
In the first three quarters, the group's property services business recorded full-caliber revenue of 43.80 billion yuan, up 0.5% year-on-year, with operational quality remaining at the forefront of the industry.
On the financing side, the group continued to receive support from various domestic and international financial institutions, with existing financing remaining broadly stable overall; as of the end of the third quarter, the comprehensive cost of existing financing stood at 2.86%, down 17 basis points from the beginning of the year; regarding shareholder loans, the major shareholder Shenzhen Metro Group has provided approximately 4.52 billion yuan in cumulative shareholder loans to the company since the start of the year, with loan interest rates and collateral pledge ratios both better than market conventional levels. As of the end of the reporting period, the company had completed risk mitigation for 10 public bonds through partial redemption and accompanying extensions, involving a total principal of approximately 18.07 billion yuan.
During the reporting period, the company faced a situation of multiple overlapping pressures. Affected by multiple factors, sales came under pressure and the operating environment was severe; some debt-servicing financial indicators had yet to show clear improvement, and the task of resolving debt risks remained arduous; at the same time, litigation and tax-related matters also brought certain pressures, with the company involved in numerous litigation disputes, and some subsidiaries experiencing delayed tax payments that incurred tax late fees.
Looking ahead, the company will continue to focus on the two main themes of risk mitigation and development, firmly advancing urban and business focus, continuously enhancing product and service capabilities, and will continue to optimize the company's asset-liability structure, orderly ease maturing repayment pressures, and steadily dispose of debt risks through revitalizing existing resources and bulk asset transactions, as well as through implementing refinancing, extensions, and other financing optimization measures. At the same time, the company is closely monitoring relevant industry policies, strengthening forward-looking research and policy analysis to provide support for business transformation and risk resolution, striving to guide the company back onto a healthy and sustainable development track.
Comments