证券日报网讯 万科A11月20日在互动平台回答投资者提问时表示，除了房地产开发外，公司业务还包括 物业服务、商业开发与运营、租赁住宅、物流仓储等。2025年前三季度，公司经营服务业务全口径收入 435.7亿元，同比增长1.1%，经营效益保持在行业前列。 ...

最新财报显示，今年前三季度，万科实现营业收入1613.9亿元，同比下降26.61%；净利润亏损280.2亿 元。其中，三季度实现营业收入560.7亿元，同比下降27.3%；归属于上市公司股东净亏损160.7亿元， 亏损额同比扩大98%。三季度，万科持有的货币资金为656.8亿元，有息负债合计3629.3亿元。 11月20日，万科A小幅低开拉升，盘中最低探至6.02元/股，刷新十年来新低。截至当天收盘，万科A收 涨2.31%，报6.20元，成交额12.1亿元，总市值739.7亿元。 就外界关注的房地产市场趋势问题，万科集团执行副总裁郁亮表示，随着政策持续落实，合理住房需求 逐步兑现，行业有望逐步走出调整周期，迈向稳健发展新阶段。他认为，《"十五五"规划建议》强调 了"好房子、好服务"的重要性，面向未来，为客户提供"好房子、好服务"将是行业竞争力的基础。 此前，为缓解现金流，自万科于2025年6月27日召开2024年度股东大会以来，深铁集团已多次向万科提 供资金安排。相关数据显示，2025年初至今，深铁集团已累计向公司提供借款307.96亿元。 最新的一次是一周前。11月11日，万科A发布公告称，深铁集团向公司提 ...

Core Viewpoint - Vanke's financial performance is under significant pressure, with a notable decline in sales and increasing losses, despite efforts to improve liquidity through shareholder loans and inventory management [2][3][22]. Sales Performance - In the first half of 2025, Vanke achieved a contract sales amount of 69.11 billion yuan, with a contract sales area of 5.389 million square meters, representing year-on-year declines of 45.7% and 42.6% respectively, the highest drop among the top 10 real estate companies [2][6][9]. - The company has increased efforts to liquidate old inventory, achieving sales of 17.6 billion yuan from completed properties and 18.3 billion yuan from pre-sold properties [6][9]. Financial Results - Vanke's revenue for the first half of 2025 was 105.32 billion yuan, a year-on-year decrease of 26.2%, with a net profit loss of 11.947 billion yuan, an increase of 21.3% compared to the previous year [3][18]. - The gross profit margin was 6.59%, showing a slight increase, but still remains low, with significant losses from joint ventures and inventory depreciation [3][18]. Debt and Liquidity - As of August 22, 2025, Vanke's major shareholder has provided a total of 23.88 billion yuan in loans, helping to improve the company's debt structure [3][22][23]. - The company's total interest-bearing debt was 364.26 billion yuan, with a cash-to-short-term debt ratio of 0.48, indicating ongoing liquidity pressure [3][27]. Diversification Efforts - Vanke's diversified business segments contributed significantly to revenue, with non-real estate related income reaching approximately 27.3 billion yuan, a year-on-year increase of 21.3%, accounting for 26% of total revenue [4][31]. - The company has been actively expanding its property management and logistics services, with notable growth in revenue from these sectors [31][32].