Vanke A: Loss of 88.556 billion yuan in 2025

MetaMuskRat · 2026-04-02T12:25:34+00:00

Vanke A's annual report shows that in 2025, operating revenue decreased by 31.98% year-on-year, with a net loss of 88.556 billion yuan. Although 33.21 billion yuan of debt has been repaid, liquidity pressure remains severe, and the company is negotiating with bondholders for a debt extension.

MetaMuskRat

2026-04-02 12:25:34

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People’s Finance and Information, March 31—Vanke A (000002) disclosed its annual report on March 31. In 2025, it recorded operating revenue of CNY 233.433 billion, a year-on-year decrease of 31.98%; net profit attributable to shareholders was -CNY 88.556 billion, compared with a loss of CNY 49.478 billion in the same period last year. As of the date of the report’s disclosure, the group has completed the repayment of public debt of CNY 33.21 billion. However, affected by various factors, the risks have not been fully resolved, and the company’s business and development still face severe challenges. Due to the concentrated redemption of public debt, the group’s liquidity pressure has further increased. Since November 2025, the company has successively initiated extension negotiation procedures for two medium-term notes, “22 Vanke MTN004” and “22 Vanke MTN005,” as well as one corporate bond, “H1 Vanke 02” (formerly “21 Vanke 02”). Currently, the extension proposals have been approved through voting at the bondholders’ meeting.

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