Zheng Quan Shi Bao Wang·2025-08-22 12:28Core Insights - Vanke has made significant progress in reforming risk management and integrating development in the first half of the year, achieving a revenue of 105.3 billion yuan and a sales income of nearly 70 billion yuan [1] - The company has successfully delivered over 45,000 units and maintained a sales collection rate exceeding 100%, with many projects achieving a sell-through rate of over 90% [1][2] - Vanke's operational service business reported a total income of 28.4 billion yuan, maintaining a leading position in the industry [1] Financial Performance - In the first half of the year, Vanke's revenue reached 105.3 billion yuan, with sales income close to 70 billion yuan [1] - The company has completed a total of 243.9 billion yuan in public debt repayment, with no foreign public debt due before 2027 [1] - Vanke has revitalized nearly 800 billion yuan in available saleable value since the beginning of 2023, with a total of nearly 60 billion yuan in cash flow from revitalization [1][2] Product and Market Development - Vanke is iterating its "Three Good" residential product standards, receiving positive market feedback, with projects in cities like Chengdu, Wenzhou, and Tianjin achieving sell-through rates exceeding 90% [2] - The company has optimized and added nearly 10 billion yuan in quality capacity through revitalization and precise investment [2] - Since 2022, Vanke's new project investment realization rate has reached 85%, with an average sales gross margin of 16% [2] Operational Efficiency - Vanke's operational service business has shown steady growth, with Vanke Cloud achieving a revenue of 18.2 billion yuan and maintaining industry-leading capabilities in the stock residential market [3] - The long-term rental apartment segment has maintained industry leadership, managing over 270,000 units and serving over 6,200 corporate clients [3] - The logistics business has seen a 43% year-on-year increase in service revenue, with a leading rental rate in the industry [3] Technological Innovation - Vanke is leveraging technology to enhance product services, with innovations in smart construction and property services, including the creation of a large model for architectural drawings [4] - The company has implemented automated operations in its long-term rental apartment segment, achieving a front-end GOP profit margin of over 89% [4] Strategic Partnerships - Vanke is actively strengthening its integration with major shareholder Shenzhen Metro Group, exploring new business opportunities in housing rental and other sectors [5] - The collaboration includes innovative projects such as the first global pilot of "robots autonomously taking the subway for merchant delivery," attracting significant market attention [5] - Vanke's long-term investment in product capabilities and technological applications has positioned it well to adapt to the new development stage of the real estate market [5]