China Vanke's Nine-Month Net Loss Widens as Sales Slow
By Amanda Lee
China Vanke's net loss in the first nine months of the year widened as sales continued to fall amid the years-long downturn in the country's property sector.
The Chinese developer's net loss increased 56%, compared with the same period a year earlier, to 28.02 billion yuan, equivalent to $3.94 billion, in the three quarters ending September, it said late Thursday.
Revenue was CNY161.39 billion, down 27% on year, as contracted sales dropped 45% on year to CNY100.46 billion.
The latest results represented continued pressure on its operations, said China Vanke.
"With the strong support from all parties and major shareholder, the group made every effort to ensure the stability of the team, finance, production and operation, and the efforts of reform and risk mitigation advanced steadily," it added.
"However, from a future trend perspective, the Company's contract sales continue to decline, and the overall operating situation remains severe," it said.
It added that its faces intensifying tight liquidly and pressure to repay debts.
Write to Amanda Lee at amanda.lee@wsj.com
(END) Dow Jones Newswires
October 30, 2025 21:29 ET (01:29 GMT)
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