Jin Rong Jie·2025-08-29 02:04Group 1 - The Ministry of Housing and Urban-Rural Development of China stated that the real estate market is stabilizing, with a 15.5 percentage point reduction in the year-on-year decline of national commercial housing sales area compared to the same period in 2024 [1] - The price index for new and second-hand housing in 70 large and medium-sized cities has shown a continuous narrowing of the year-on-year decline since October last year, indicating a trend of stabilization in the real estate market [1] - Despite the positive outlook, international rating agencies remain pessimistic, with Fitch recently downgrading Vanke's rating to CCC-, reflecting an overly negative view of the industry [1] Group 2 - Vanke achieved revenue of 105.3 billion and sales income of nearly 70 billion in the first half of the year, with a high-quality delivery of over 45,000 units and a sales collection rate exceeding 100% [2] - The company has actively revitalized its inventory, generating nearly 60 billion in cash flow from inventory management, and has completed a total of 800 billion in available sales value since the beginning of 2023 [2] - Vanke has received strong support from major shareholders, successfully repaying 24.39 billion in public debt and having no public debt due before 2027 [2]