From "having a place to live" to "having a better place to live": Vanke (02202) sold over 100 billion in multiple projects in the first three quarters, leading in the efficiency of the long-term rental industry.

Resolutely respond to both renting and buying! On October 30th, Vanke (02202) released its third quarter report. Despite facing numerous challenges and pressures, with support from all sides and their own efforts, Vanke achieved a revenue of 161.39 billion in the first three quarters, sales revenue of 100.46 billion, and delivered over 74,000 high-quality units. The operating service business generated revenue of 43.57 billion in the first three quarters, with operating benefits continuing to lead the industry. Among them, Vanke's long-term rental apartment business has maintained its industry-leading position in terms of scale, efficiency, and guarantee quantity. With over 280,000 units in operation, more than 200,000 units have been opened so far, and a total of over 133,000 units have been included in affordable rental housing. More importantly, Bo Yu was the first in the industry to achieve a breakthrough in the integrated development model of "production, construction, and operation". An industry expert in the housing rental industry analyzed that the combination of renting and buying has become a trend, but finding a sustainable business development model has always been a pain point for the industry. Vanke's rental housing business started early and has explored a sustainable path of "stock activation + service value-added + capital closed-loop" in the industry. Through innovative paths such as "from sales to rental" and "non-residential transformation to guarantee", they have revitalized urban stock resources, improved operating efficiency through standardized service systems, and also achieved a breakthrough in Pre-REIT funds, gradually opening up asset exit channels. In the future, with the continuous deepening of the combination of renting and buying, Vanke's long-term rental business is expected to win a broader development space. Vanke's long-term rental business not only maintains a leading scale and efficiency but also was the first in the industry to achieve a breakthrough in the integrated development model of "production, construction, and operation". For example, in the Golden Dream project in Foshan, with innovative management models, Bo Yu conducted leasing operations and effective management of unsold scattered housing units, gaining recognition from both tenants and owners. In cities such as Hefei, Wuhan, and Suzhou, Bo Yu continues to cooperate deeply with local state-owned platforms and has reached cooperation agreements on the operation of several large and medium-sized rental communities. Not only is Vanke's long-term rental business the industry's "top player" in terms of scale and efficiency, but they also focus on customer-centricity and enhance the quality of rental housing in multiple dimensions. In the first half of the year, Vanke Bo Yu launched the "Six Core Service Commitments" nationwide, focusing on real listings, transparent fees, 24-hour online response, emergency maintenance, and other core rental guarantees, with the "rent renewal price guarantee" ensuring the rights of old tenants receiving wide recognition. At the same time, Bo Yu has opened short-term rental services for corporate clients traveling on business and tenants visiting relatives, with over 500,000 room nights booked so far. On the one hand, maximizing rental rates through space reuse, and on the other hand, maximizing returns through flexible leasing times in a variety of market cycles, the combination of long and short-term rentals has opened up a new path for them in the fierce market competition. Furthermore, Vanke's business competitiveness in the long-term rental apartment sector has also been recognized by major shareholders and third-party institutions. In the second quarter of this year, Vanke Bo Yu signed a framework agreement for rental operation cooperation with Shenzhen Metro, further deepening their integrated development in the housing rental sector. According to the agreement, Shenzhen Metro Property will leverage its abundant project asset advantages and combine them with Vanke Bo Yu's brand influence and operational strengths in the rental sector to jointly operate Shenzhen Metro projects suitable for long-term rental apartments. This cooperation will not only help maintain a healthy cycle for Shenzhen Metro assets but also promote the development of Vanke's long-term rental apartment business. In addition, according to a third-party industry report, Bo Yu was recognized as the "Leading Brand in China's Housing Rental Industry 2025" and "Leading Brand in China's Community Rental Industry 2025".