Di Yi Cai Jing·2025-10-30 14:40Core Viewpoint - Vanke's operational pressure remains significant, with the third quarter losses exceeding the total losses of the first half of the year [1] Financial Performance - In Q3, Vanke reported revenue of 56.07 billion yuan, a year-on-year decrease of 27.3% [1] - The net profit attributable to shareholders was -16.07 billion yuan, representing a year-on-year decline of 98.61% [1] - The losses in Q3 surpassed the overall losses recorded in the first half of the year [1] Reasons for Losses - The increase in losses is attributed to a decline in the scale of development business settlements, low gross margins, and new provisions for inventory impairment [1] - Various impairment provisions, including inventory impairment, totaled 9.4 billion yuan, which reduced the net profit attributable to shareholders by approximately 8.3 billion yuan [1] - Some asset transactions and equity disposals were executed at prices below their book values, contributing to the financial strain [1]