Core Viewpoint - Vanke A (000002) reported a significant decline in net profit for the first half of 2025, projecting a loss of 10 to 12 billion yuan, primarily due to reduced project settlement scale and low gross margins [1][3] Group 1: Financial Performance - In the first half of the year, Vanke achieved sales revenue of 69.1 billion yuan and delivered over 45,000 units, with a sales collection rate exceeding 100% [1] - The projected net loss for the period from January 1 to June 30, 2025, is between 10 billion to 12 billion yuan, with a loss of 9.5 billion to 11.5 billion yuan after excluding non-recurring items [1] Group 2: Business Strategy - Vanke is actively responding to market demand for quality housing, with opening sales rates exceeding 80% in cities like Shanghai, Hangzhou, and Tianjin [1] - The company has successfully revitalized 64 projects in 2023, releasing approximately 78.5 billion yuan in saleable value, resulting in over 20 billion yuan in new sales [1] Group 3: Operational Developments - Vanke's long-term rental apartment business leads the industry in scale, efficiency, and insurance coverage, with an occupancy rate exceeding 93% and a GOP profit margin close to 90% [2] - The company is accelerating the establishment of asset exit channels, including asset securitization, and has made progress with the Pre-REIT fund [2] Group 4: Shareholder Support - Vanke's major shareholder, Shenzhen Metro Group, has provided substantial loans to the company, totaling over 62.49 billion yuan, to support its financial stability [2][3] - The management indicated that the financial support from Shenzhen Metro Group has played a crucial role in stabilizing Vanke's credit standing in the capital market [3]

Core Viewpoint - Vanke (000002.SZ) continues to experience losses, with a projected net profit loss of 10 billion to 12 billion yuan for the first half of 2025, compared to a loss of 9.852 billion yuan in the same period last year [1] Group 1: Financial Performance - The net profit loss excluding non-recurring gains and losses is expected to be between 9.5 billion and 11.5 billion yuan, compared to a loss of 7.613 billion yuan in the previous year [1] - Basic earnings per share are projected to be a loss of 0.8433 to 1.0120 yuan, compared to a loss of 0.8309 yuan per share in the same period last year [1] - The company achieved sales of 69.11 billion yuan in the first half of the year, with a repayment rate exceeding 100% and a project opening absorption rate over 80% in multiple locations [2] Group 2: Operational Challenges - The decline in profit is attributed to a significant decrease in the settlement scale of real estate development projects and low gross profit margins [1] - The company has increased asset impairment provisions due to heightened business risk exposure and some large asset transactions and equity transaction prices falling below book value [1] Group 3: Strategic Initiatives - Vanke aims to improve operations through strategic focus, operational enhancement, management improvement, technological empowerment, and integrated development [1] - The company has completed the delivery of over 45,000 housing units and has revitalized projects worth approximately 57.5 billion yuan, with a total of 64 projects revitalized since the beginning of 2023, involving a saleable value of about 785 billion yuan [2] - Vanke has raised and refinanced 24.9 billion yuan in the first half of the year and has repaid 16.49 billion yuan in public debt, with no foreign public debt due before 2027 [2]

Major Events - Zhonghua Equipment plans to acquire 100% equity of Yiyang Rubber and Plastic Machinery Group and Beihua Machinery, with stock suspension starting July 15, 2025 [3] - Suzhou Planning intends to purchase 100% equity of Dongjin Aerospace through a combination of cash and stock issuance, with stock resuming trading on July 15, 2025 [4] - Aerospace Development's independent director was detained for personal reasons unrelated to the company's operations, which remain stable [5][6] - *ST Tianmao issued a risk warning regarding potential delisting due to failure to disclose annual reports in time [7] - ST Shuntian will suspend trading for one day on July 15, 2025, and will remove other risk warnings, changing its stock name to Jiangsu Shuntian [8] - Xinghui Entertainment plans to transfer 99.66% equity of Espanyol Football Club for €130 million, focusing on core business areas [9] Performance Reports - China Salt Chemical reported a 5.76% decrease in revenue to ¥5.998 billion and an 88.04% drop in net profit to ¥52.71 million for the first half of 2025 [10] - Jiu Gui Jiu expects a net profit of ¥8 million to ¥12 million, down 90.08% to 93.39% year-on-year, with revenue around ¥560 million, a 43% decline [11] - Suli Co. anticipates a net profit of ¥72 million to ¥86 million, up 1008.39% to 1223.91% year-on-year, driven by increased sales and prices [12] - Te Yi Pharmaceutical expects a net profit of ¥34 million to ¥38 million, a growth of 1164.22% to 1312.95% year-on-year, due to strong sales of its core product [13] - Huahong Technology forecasts a net profit of ¥70 million to ¥85 million, up 3047.48% to 3721.94% year-on-year, benefiting from improved market conditions [14] - Qianfang Technology expects a net profit of ¥150 million to ¥200 million, an increase of 1125.99% to 1534.65% year-on-year, influenced by fair value changes of equity instruments [15] - Huaxia Airlines anticipates a net profit of ¥220 million to ¥290 million, up 741.26% to 1008.93% year-on-year, due to improved flight demand [16] - Xianfeng Holdings expects a net profit of ¥34 million to ¥42 million, a growth of 524.58% to 671.53% year-on-year, mainly from non-recurring gains [17] - Xinyi Sheng expects a net profit of ¥370 million to ¥420 million, up 327.68% to 385.47% year-on-year, driven by AI-related investments [18] - Haili Co. anticipates a net profit of ¥30.5 million to ¥36 million, a growth of 625.83% to 756.71% year-on-year, due to improved sales [19] - Hengsheng Electronics expects a net profit of approximately ¥251 million, an increase of about 740.95% year-on-year, due to significant non-recurring gains [20] - Tianqi Lithium expects a net profit of ¥0 to ¥155 million, recovering from a loss of ¥5.206 billion in the previous year [21] - Shui Jing Fang forecasts revenue of ¥1.498 billion, down 12.84%, and a net profit of ¥105 million, down 56.52% [22] - CICC expects a net profit of ¥3.453 billion to ¥3.966 billion, an increase of 55% to 78% year-on-year [23] - Shenwan Hongyuan anticipates a net profit of ¥4.1 billion to ¥4.5 billion, a growth of 92.66% to 111.46% year-on-year [24] - Xinda Securities expects a net profit of ¥921 million to ¥1.044 billion, an increase of 50% to 70% year-on-year [25] - Shanxi Securities anticipates a net profit of ¥504 million to ¥544 million, a growth of 58.17% to 70.72% year-on-year [26] - Guohai Securities expects a net profit of ¥370 million, a growth of 159.26% year-on-year [27] - Guocheng Mining anticipates a net profit of ¥493 million to ¥548 million, a growth of 1046.75% to 1174.69% year-on-year [28] - China Rare Earth expects a net profit of ¥136 million to ¥176 million, recovering from a loss of ¥244 million [29] - Perfect World anticipates a net profit of ¥480 million to ¥520 million, recovering from a loss of ¥177 million [30] - Fangda Carbon expects a net profit of ¥50 million to ¥60 million, down 65.13% to 70.93% year-on-year [31] - Huanghe Xuanfeng expects a net loss of ¥285 million [32] - JA Solar anticipates a net loss of ¥2.5 billion to ¥3 billion, worsening from a loss of ¥874 million [33] - Shanxi Black Cat expects a net loss of ¥490 million to ¥540 million [34] - Ganfeng Lithium anticipates a net loss of ¥300 million to ¥550 million, improving from a loss of ¥760 million [35] - Xinda Real Estate expects a net loss of ¥3.5 billion to ¥3.9 billion [36] - Greenland Holdings anticipates a net loss of ¥3 billion to ¥3.5 billion [37] - Air China expects a net loss of ¥1.7 billion to ¥2.2 billion [39] - OFILM expects a net loss of ¥85 million to ¥115 million [40] - Vanke A expects a net loss of ¥10 billion to ¥12 billion [41] Major Contracts - Zhongchen Co. won a project from Southern Power Grid worth ¥379 million, accounting for 12.26% of its 2024 audited revenue [42] - Gaode Infrared signed a procurement agreement worth ¥879 million, representing 32.84% of its 2024 audited revenue [43]

上半年预计亏损100亿-120亿。 "公司对业绩亏损深表歉意。"万科在公告中表示，接下来，将全力以赴推进经营改善，通过战略聚焦、 经营提振、管理提升、科技赋能、融合发展等措施，推动业务布局优化和结构调整，促进开发业务回归 良性循环，经营服务业务稳步增长，加快构建适应房地产新模式的核心能力，持续为客户提供"好房 子""好服务""好社区"，推动公司重归健康发展的轨道。 万科表示，上半年公司保持生产经营稳定，按期保质完成了超4.5万套房的交付；实现销售金额691.1亿 元，回款率超过100%，多地项目开盘去化率超80%；实现大宗交易签约金额64.3亿元。 同时，万科通过存量盘活回款57.5亿元，并以盘活模式新增获取项目3个，2023年以来，万科已累计盘 活项目64个，涉及可售货值约785亿元。上半年，万科还在武汉、郑州、成都等多个城市补充了项目资 源。 据披露，万科上半年合并报表范围内新增融资和再融资249亿元；同时还有来自大股东深铁集团的借 款，至今已有超218亿元。目前，万科已完成164.9亿元公开债务偿还，2027年之前已无境外公开债到 期。 万科（000002.SZ）的亏损还在继续。 7月14日晚，万科发布 ...

Core Viewpoint - Vanke expects a significant net profit loss for the first half of 2025, primarily due to decreased project settlement scale, increased asset impairment provisions, and lower transaction prices for major assets [2][3]. Financial Performance - The projected net profit loss for the period is between 10 billion to 12 billion yuan, with a loss of 9.5 billion to 11.5 billion yuan after excluding non-recurring items [2]. - Basic earnings per share are expected to be a loss of 0.8433 to 1.01 yuan [2]. - The company achieved sales of 69.11 billion yuan with a repayment rate exceeding 100% [2]. Operational Highlights - Vanke delivered over 45,000 housing units on schedule and completed significant transactions, including 6.43 billion yuan in bulk trading [2]. - The company has revitalized 64 projects since the beginning of 2023, with a total saleable value of approximately 78.5 billion yuan [2]. Strategic Initiatives - Vanke is focusing on operational improvement through strategic focus, management enhancement, and technology empowerment to optimize business layout and structure [3]. - The company has seen strong sales in new projects across multiple cities, with some projects achieving over 80% sales rates [3]. Business Segments - The long-term rental apartment business leads the industry in scale and efficiency, with an occupancy rate exceeding 93% and a gross operating profit margin close to 90% [3]. - Vanke's commercial business is experiencing steady growth in foot traffic and sales, providing services to well-known institutional owners [3]. Asset Management and Development - The company is accelerating the establishment of asset exit channels, including asset securitization, and has made progress with the Pre-REIT fund [4]. - Vanke is enhancing collaboration with its major shareholder, Shenzhen Metro Group, to leverage resources and create a new urban service ecosystem [4].

China Vanke said its loss for the first half of 2025 could reach $1.67 billion, underscoring the lingering problems in the nation’s property market https://t.co/sJVs7l2gKm ...

Performance Forecast - The company expects a net loss for the first half of 2025, with projected losses ranging from 1,000 million to 1,200 million yuan, compared to a loss of 985.25 million yuan in the same period last year [1] - The expected net loss after deducting non-recurring gains and losses is projected to be between 950 million and 1,150 million yuan, compared to a loss of 761.30 million yuan in the previous year [1] - Basic earnings per share are anticipated to be a loss between 0.8433 yuan and 1.0120 yuan, compared to a loss of 0.8309 yuan per share last year [1] Reasons for Loss - The significant decline in the scale of real estate project settlements and low gross profit margins are primary reasons for the expected losses [1] - Increased asset impairment provisions due to heightened business risk exposure in response to changes in the industry, market, and operational environment [1] - Some major asset and equity transactions are expected to be priced below their book values [1] Operational Highlights - The company successfully delivered over 45,000 housing units during the reporting period [1] - Sales amounted to 69.11 billion yuan, with a collection rate exceeding 100% [1] - The company has revitalized 64 projects since the beginning of 2023, involving a saleable value of approximately 78.5 billion yuan [1] - The overall performance of operational service businesses remains strong, maintaining a leading position in industry segments [1] Financial Management - The company received support from various financial institutions, accelerating debt risk resolution [1] - New financing and refinancing amounted to 24.9 billion yuan (excluding shareholder loans) during the reporting period [1] - The company successfully repaid 16.49 billion yuan in public debt, with no foreign public debt maturing before 2027 [1]

智通财经7月14日电，万科14日发布中期业绩预告，上半年实现销售收入691亿，交付超4.5万套，销售 回款率超100%，多地项目开盘去化率超80%。此外，由深铁、万科旗下万纬物流合作的全球首例"机器 人自主搭乘地铁配送货"于近日启动试点，借用深圳地铁空闲时段与空间，实现给地铁商家的无人化配 送货。今年以来，在大股东及各方大力支持下，万科坚持在发展中化解风险，全力以赴实现了经营稳 定，同时大股东对万科也不仅是真金白银支持，更有"造血式"的业务协同，增强了各方对万科的信心。 万科：上半年销售691亿 回款率超过100% ...

Core Viewpoint - The collaboration between Shenzhen Metro Group and Vanke marks the launch of the world's first autonomous logistics delivery system using robots on public subway systems, showcasing innovation in technology application and urban service ecosystems [1][2]. Group 1: Innovation in Logistics - The pilot project involves a cartoon robot that autonomously navigates the subway to deliver goods to 7-Eleven stores, addressing the challenges of traditional ground delivery methods [1][2]. - The intelligent scheduling system developed by Vanke's subsidiary, Wanwei Logistics, analyzes various factors such as daily orders, locations, and real-time subway capacity to optimize delivery routes [2]. - It is estimated that only 41 robots are needed to meet the peak delivery demands of all 7-Eleven stores in Shenzhen's subway system [2]. Group 2: Strategic Collaboration - The partnership between Shenzhen Metro and Vanke represents a strategic integration and business synergy, enhancing operational efficiency in subway commerce and accelerating Vanke's logistics transformation [3]. - Vanke's mid-year report anticipates a sales revenue of 69.1 billion yuan, with a sales collection rate exceeding 100%, indicating strong financial health [3]. - Vanke has successfully revitalized 64 projects in 2023, releasing approximately 78.5 billion yuan in saleable value, contributing to over 20 billion yuan in new sales [3]. Group 3: Business Performance - Vanke's long-term rental apartment business maintains industry-leading scale and efficiency, with an occupancy rate exceeding 93% [4]. - The company has established a Pre-REIT fund, collaborating with institutions like CITIC to acquire projects, transitioning its business model from heavy to light [5]. - The integration of various business models, including long-term rentals and innovative logistics solutions, is creating a new urban service ecosystem [5].

万科企业股份有限公司 2025 年半年度业绩预告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：〈万〉2025-104 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、本期业绩预计情况 （一）业绩预告期间：2025 年 1 月 1 日至 2025 年 6 月 30 日 | 项 目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司股 | 亏损：1,000,000 万元-1,200,000 万元 | 亏损：985,249.96 万元 | | 东的净利润 | | | | 扣除非经常性损益 | 亏损：950,000 万元-1,150,000 万元 | 亏损：761,304.92 万元 | | 后的净利润 | | | | 基本每股收益 | 亏损：0.8433 元/股-1.0120 元/股 | 亏损：0.8309 元/股 | （二）业绩预告情况：预计净利润为负值 二、与会计师事务所沟通情况 业绩预告未经过会计师事务所审计。 三、上半年主要工作进展和业绩亏损主要原因 公司预计 2025 年半年度业 ...