VANKE(SZ:000002) 第一财经·2025-09-17 11:00Core Viewpoint - Vanke has undergone a significant organizational restructuring and personnel adjustment following the full takeover by the Shenzhen Metro Group, aiming to enhance operational efficiency and adapt to the changing real estate market dynamics [3][8]. Organizational Structure Changes - The new organizational structure includes a headquarters, regional companies, and business units, with the headquarters comprising 11 centers such as the Board Office and Investment Development Center [4]. - The restructuring involves the elimination of the Development and Operation Headquarters, transitioning from a "5+2+2" structure to 16 regional companies directly managed by the headquarters, reflecting a shift towards a two-tier management system [6][8]. Management Team Adjustments - Key management personnel have been disclosed, including Chairman Xin Jie and Executive Vice Presidents Yu Liang, Li Feng, and others, with several executives taking on new roles within the organization [6][7]. - This marks the second major personnel change in 2023, following a significant management overhaul in January when the previous leadership team resigned [7]. Financial Performance - In the first half of the year, Vanke reported revenue of 105.32 billion yuan, a year-on-year decline of 26.2%, and a net profit loss of 11.947 billion yuan [8]. - Contract sales amounted to 69.11 billion yuan, with a sales area of 5.389 million square meters, reflecting declines of 45.7% and 42.6% respectively [8]. Industry Context - The restructuring is seen as a response to the ongoing downturn in the real estate sector, with companies like Vanke aiming to streamline operations and improve market responsiveness [8]. - Research indicates that the adjustments in organizational structure are indicative of a broader shift in the operational logic of real estate firms during this challenging period [8].