NO.3 深圳今年计划供应商品住房4万套 7月23日，深圳住建局公布了深圳市2025年住房发展年度计划。根据计划，2025年计划供应居住用地100 公顷。其中，供应商品住房用地60公顷，供应保障性住房用地40公顷。计划新安排建设筹集保障性住房 4万套（间），计划竣工保障性住房3.23万套（间），计划供应商品住房4万套。 点评：这一举措旨在合理平衡住房市场供需结构，在商品与保障房建设上重新布局。对涉深业务的房地 产企业，土地资源分配影响其项目储备，将迎来新的开发机遇与布局可能。 NO.1广东已为1812个"白名单"项目授信超万亿元 7月24日，在2025年上半年广东银行业保险业新闻通气会上，广东金融监管局党委委员黄海晖表示，房 地产"白名单"项目扩围增效，截至6月末，辖内银行为1812个项目提供授信1.09万亿元，落地0.83万亿 元，项目数、授信金额及落地金额均居全国首位。 点评：对涉及项目的房企，充沛资金可助力项目建设交付，增强其运营稳定性与市场竞争力。这也将促 进资源优化配置，推动行业加速出清风险、止跌回稳。 NO.2 上海六批次土拍首日5宗地揽金185.3亿元 7月24日，上海六批次土拍首日共成交地块5 ...

Core Viewpoint - Vanke expresses confidence in the real estate market's recovery, supported by policy guidance and financial backing, while actively managing its debt and enhancing operational efficiency [12][14][17]. Financial Performance - In Q1 2025, Vanke achieved nearly 38 billion in revenue and approximately 35 billion in sales, with a repayment rate exceeding 100% [9]. - The company has repaid over 16 billion in public debt this year and completed the repayment of approximately 197 billion in domestic and foreign public bonds in 2024 [3][4]. - Vanke's cash holdings reached 75.5 billion, with total interest-bearing liabilities at 365.87 billion and a debt-to-asset ratio of 73.5% [4]. Market Outlook - Vanke's management believes the real estate market will stabilize and recover due to supportive policies and improved market confidence [12][16]. - The company has identified four key factors influencing market trends: improved land supply in key cities, a rebound in demand, accelerated inventory clearance, and diversification in new housing products [17]. Business Strategy - Vanke has established a positive cycle of "activation - product upgrade - hot sales - reinvestment," with over 70 billion in available saleable value activated and new sales exceeding 20 billion [12][18]. - The company plans to focus on enhancing operational quality and service levels in its core business areas [12]. Leadership and Governance - Vanke's management team has faced challenges but remains committed to overcoming them, with strong support from major shareholders like Shenzhen Metro Group [10][14]. - Founder Wang Shi emphasized the importance of timely intervention and board restructuring to ensure Vanke's stability and future success [18].