Core Viewpoint - Vanke is expected to report a net loss of approximately 82 billion yuan for the year 2025, with the loss amount further expanding compared to the previous year [1] Group 1: Financial Performance - The significant decline in the scale of real estate project settlements has led to a substantial decrease in gross profit, with the gross profit margin remaining low [1] - The company has delivered 117,000 homes in 2025, completing about 70% of the required deliveries for the past two years, indicating that the peak delivery period has passed and subsequent delivery pressure will significantly decrease [2] - Vanke's operating service business achieved revenue of 43.57 billion yuan by the third quarter of 2025, maintaining stability year-on-year [2] Group 2: Challenges and Strategic Responses - The loss is attributed to several factors, including increased business risk exposure, additional provisions for credit impairment and asset impairment, and losses from certain operational and financial investments [1] - Vanke is facing liquidity pressure, with its major shareholder, Shenzhen Metro Group, providing over 30 billion yuan in shareholder loans to support the company [2] - The company plans to focus on operational improvements through strategic focus, standardized operations, and technological empowerment to optimize business layout and structure [2]

1月30日，万科发布2025年度业绩预告。面对过去一年的多重艰巨挑战，在大股东和各方的大力支持 下，万科全力以赴、攻坚克难，实现了殊为不易的生产经营稳定。2025年，万科保质交付房屋11.7万 套，经营服务业务营收保持稳健，积极推动开发业务的降本增效，实现开发业务管理费用连续两年下 降。据了解，万科2025年已完成近两年需交付量约70%，交付高峰期已过，后续交付压力将显著下降。 万科自身也迎难而上，全力维持公司运营。房屋交付方面，万科克服重重挑战，完成了2025年保交房任 务。万科将360°摄像头、无人机巡场等智慧技术运用到项目工地让业主"云监工"，积极开展"交付即办 证"服务为客户提供便利，强化社区运营和配套以打造有温度的社区生态。通过一系列的扎实行动，万 科全年按期保质交付11.7万套房屋，其中1.6万套实现提前30天交付，约5000套实现跨年提前交付，济 南、郑州、南昌等多地项目交付实现100%收房。 作为业内较早布局转型的企业，万科经营服务业务的业绩表现稳健。截止2025年三季度，万科经营服务 业务实现收入 435.7 亿元，同比保持平稳，长租业务规模、效率和纳保量保持行业第一，管理规模突破 20万间 ...