2025 年第三季度（简称"报告期"）公司共计提或因合并范围变动而增加 的各类减值准备合计 936,794.52 万元，转回或转销各类减值准备合计 170,826.37 万元。截至 2025 年 9 月 30 日，公司各项资产减值准备余额合计 5,391,489.13 万 元，较报告期初增加 765,968.15 万元。 万科企业股份有限公司 | 序号 | 科目 | 报告期计提减值 准备金额（万元） | 计提原因 | | --- | --- | --- | --- | | 1 | 存货跌价准备 | 919,259.74 | 存货按照成本与可变现净值孰低计量。当其 可变现净值低于成本时，提取存货跌价准备。 | | 2 | 信用损失准备 | 20,866.78 | 以预期信用损失为基础，按信用风险特征对 应收款项计提信用损失准备。 | | | 小计 | 940,126.52 | | | 3 | 合并范围变动 | -3,332.00 | 合并范围变动影响 | | | 合计 | 936,794.52 | | 关于计提和核销 2025 年第三季度减值准备的公告 证券代码：000002、299903 证券简称：万科 A、 ...

万科企业股份有限公司 详见公司同日在《证券时报》《中国证券报》《上海证券报》和《证券日报》 以及在巨潮资讯网（www.cninfo.com.cn）、香港联合交易所有限公司披露易网站 登载的《2025 年第三季度报告》。 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 （二）审议通过《关于计提和核销 2025 年第三季度减值准备的议案》 第二十届董事会第二十六次会议决议公告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：〈万〉2025-134 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 一、会议召开情况 万科企业股份有限公司（以下简称"公司"或"万科"）第二十届董事会第 二十六次会议的通知于 2025 年 10 月 15 日以电子邮件的方式送达各位董事。会 议于 2025 年 10 月 30 日在深圳以现场和通讯会议相结合方式举行，会议应到董 事 9 名，亲自及委托出席董事 9 名，其中廖子彬独立董事和沈向洋独立董事以通 讯方式出席；张懿宸独立董事因公务原因未能亲自出席本次会议，授权沈向洋独 立董事代为出席会议并行使表决 ...

Core Viewpoint - The recent quarterly report from Vanke highlights its resilience and performance amidst challenges, showcasing strong revenue and sales figures, as well as a commitment to innovation and operational stability [2]. Group 1: Financial Performance - Vanke reported a revenue of 161.39 billion in the first three quarters, with a sales income of 100.46 billion [2]. - The company achieved high-quality delivery of over 74,000 units during the same period [2]. - During the recent "Golden Week" holiday, Vanke secured a subscription amount of 4.77 billion, achieving a target completion rate of 137% across 16 regional companies [2]. Group 2: Strategic Initiatives - Vanke completed a large transaction signing amounting to nearly 7 billion, with the ice and snow sector signing a deal with China Travel Group, which helped to recover 7.11 billion in existing resources [2]. - The operational service business generated an income of 43.57 billion, maintaining a leading position in industry efficiency [2]. - The company is focusing on technological innovation to drive industrial advancement and enhance product services [2].

Core Viewpoint - Vanke has demonstrated resilience in the face of challenges, achieving significant revenue and sales figures in the third quarter, while leading the long-term rental apartment sector with innovative business models and strong operational efficiency [1][2]. Financial Performance - In the first three quarters, Vanke reported revenue of 161.39 billion and sales income of 100.46 billion, with over 74,000 high-quality deliveries [1]. - The operating service business generated revenue of 43.57 billion, maintaining a leading position in the industry [1]. Long-term Rental Business - Vanke's long-term rental apartment business maintains the largest scale and efficiency in the industry, with over 280,000 units under management and more than 200,000 units opened [2]. - The company has pioneered an integrated development model of "production, construction, and operation," enhancing operational management and tenant satisfaction [2]. Innovative Business Model - Vanke has explored a sustainable business development model through "stock activation + service value addition + capital closure," addressing industry pain points [1]. - The company has implemented innovative strategies such as "selling to renting" and "non-residential to guaranteed housing," optimizing urban stock resources [1]. Customer-Centric Approach - Vanke has introduced six service commitments to enhance rental quality, focusing on transparency, emergency repairs, and tenant rights protection [2]. - The company has also launched short-term rental services for corporate clients, achieving over 500,000 nights booked, maximizing rental rates through space reuse [2]. Strategic Partnerships - Vanke has formed a strategic partnership with Shenzhen Metro Group to enhance its long-term rental business, leveraging each other's strengths in project assets and brand influence [3]. - The collaboration aims to promote the development of Vanke's long-term rental apartments while ensuring a positive asset cycle for Shenzhen Metro [3]. Industry Recognition - Vanke's long-term rental brand, "Boya," has been recognized as a leading brand in China's housing rental sector according to a third-party report [3].

Core Insights - Vanke has reported stable operational performance in the face of multiple challenges, achieving a revenue of 161.39 billion and a sales income of 100.46 billion in the first three quarters of the year, with over 74,000 high-quality deliveries [1][2] - The company has successfully implemented a strategy focused on revitalizing existing resources, optimizing capacity, and enhancing product quality, which has led to significant sales performance across various projects [1][2] - Vanke's long-term rental apartment business continues to lead the industry, with a total revenue of 43.57 billion in the first three quarters, and it has expanded its operational scale significantly [3][4] Group 1: Financial Performance - In the first three quarters, Vanke achieved a revenue of 161.39 billion and a sales income of 100.46 billion, with a high-quality delivery of over 74,000 units [1] - The company has revitalized existing resources, generating a cash return of 7.1 billion [2] Group 2: Product Innovation and Sales - Vanke's innovative products have been well-received in the market, leading to rapid sales, with notable projects in Guangzhou and Shanghai achieving top sales figures [1] - The company has established 24 product standards and approximately 520 design requirements to ensure high-quality housing [1] Group 3: Long-term Rental Business - Vanke's operating service business generated a total revenue of 43.57 billion, maintaining its leading position in the long-term rental market [3] - The company has opened over 200,000 rental units, with more than 133,000 units included in affordable housing [3] Group 4: Technological Innovation - Vanke is leveraging technology to enhance its services, including the development of an AI digital engineering management platform and smart community initiatives [5][6] - The company has partnered with Deep Rail to pilot a robot delivery system using subways, which is set to launch in the fourth quarter [7]

Core Insights - Vanke's long-term rental business has achieved a significant milestone by surpassing 200,000 opened units, maintaining its position as the industry leader [1] - The company reported a revenue of 161.39 billion and a sales income of 100.46 billion for the first three quarters, with over 74,000 high-quality deliveries [1] - Vanke's operational management has reached over 280,000 units, with more than 133,000 units included in the guaranteed rental housing program [1] Group 1 - Vanke's long-term rental apartments have achieved a breakthrough in the "production, construction, and operation integration" development model [2] - The company has launched six service commitments nationwide, focusing on core rental guarantees such as true housing sources and transparent fees [2] - Vanke's flexible rental model combines long-term and short-term rentals, maximizing occupancy rates and diversifying revenue streams [2] Group 2 - Vanke's competitive edge in the long-term rental apartment sector has been recognized by major shareholders and third-party institutions [3] - A cooperation framework agreement was signed with Shenzhen Metro Group to enhance the integration of housing rental development [3] - Vanke's rental brand has been awarded titles such as "2025 Leading Brand in Housing Rental" and "2025 Leading Brand in Community Rental" [3]

Core Viewpoint - Vanke is actively pushing forward reforms to mitigate risks despite facing multiple challenges, achieving significant revenue and sales growth in the third quarter of 2023 [1] Financial Performance - For the first three quarters, Vanke reported revenue of 161.39 billion, with sales revenue reaching 100.46 billion [1] - During the recent "Golden Week" holiday, Vanke achieved a subscription amount of 4.77 billion, surpassing the target completion rate by 137% [1] - The company completed nearly 7 billion in bulk transaction agreements and signed a deal with China Travel Group in the ice and snow sector, generating a return of 7.11 billion from existing resources [1] Operational Highlights - Vanke delivered over 74,000 high-quality units in the first nine months of the year [1] - The operational service segment generated revenue of 43.57 billion, maintaining a leading position in industry efficiency [1] Strategic Initiatives - The company is focusing on technological innovation to drive industrial transformation and enhance new productive forces, utilizing technology to improve product services [1]

Core Insights - Technology innovation is a key driver for enhancing quality and efficiency in the real estate industry, with Vanke providing solutions based on years of technological accumulation and innovation [1] Group 1: Financial Performance - In the first three quarters, Vanke achieved revenue of 161.39 billion, delivering over 74,000 high-quality units despite facing various challenges [1] Group 2: Technological Advancements - Vanke has pioneered a large model for real estate blueprints, which has become an industry-level application, serving over 1,000 internal and external projects [2] - The company is advancing an "AI Digital Engineering Management Platform" that utilizes drones and 360-degree cameras to collect construction site data, completing over 320,000 intelligent inspections [2] - Vanke's self-developed "Ling Shi" system in property management achieves a 99.7% equipment online rate and a 15-minute fault response time [2] Group 3: Innovative Logistics Solutions - Vanke, in collaboration with Shenzhen Metro, is launching the world's first robot that autonomously takes the subway for delivery, significantly improving delivery efficiency for subway shops [3] - The project has completed the second phase of trial runs and hardware upgrades, with plans to produce and deliver 40 robots in the fourth quarter for trial operations at 25 key subway stations [3]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 萬科企業股份有限公司 董事會 中國，深圳，2025年10月3 0日 於本 公 告日期，本 公司 董 事會 成 員包 括：執 行 董 事 郁 亮 先 生 及 王 蘊 女 士；非 執 行 董 事黃 力 平 先 生、胡國 斌 先 生 及雷 江 松 先 生；以及 獨 立非 執 行 董 事 廖子 彬先 生、林 明彥 先 生、沈向洋 博士及 張 懿 宸 先 生。 * 僅供識別 CHINA VANKE CO., LTD.* 萬科企業股份有限公司 （於中華人民共和國註冊成立的股份有限公司 ） （股份代號：2202） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則 第 13.10B 條 作出。兹 載 列 該 公 告如下， 僅供 參 閱。 万科企业股份有限公司 关于"22 万科 07"公司债券付息、赎回结果暨摘牌公告 证券代码：000002、299903、148099 证券简称：万科 A、万科 H 代、22 ...

Core Viewpoint - Vanke A announced the approval of a proposal regarding the provision and write-off of impairment for the third quarter of 2025, indicating significant financial adjustments in response to asset valuations [1] Financial Summary - The company recognized a total of 9.368 billion yuan in various impairment provisions during the reporting period, which includes increases due to changes in the scope of consolidation [1] - The company reversed or wrote off impairment provisions totaling 1.7 billion yuan [1] - The net profit attributable to the owners of the parent company decreased by approximately 8.309 billion yuan due to the recognition of impairment provisions [1]