CHINA VANKE (02202) Announces First Three Quarters Results, Revenue RMB104.999 Billion, Delivered 34,000 Homes on Schedule and with Quality

CHINA VANKE (02202) Announces First Three Quarters 2026 Results: Revenue RMB104.999 Billion, Down 34.94% YoY; Loss Attributable to Shareholders RMB23.944 Billion, Narrowed 14.53% YoY; Basic Loss Per Share RMB2.01 CHINA VANKE (02202) released its results for the first three quarters of 2026. The Group recorded revenue of RMB104.999 billion, a year-on-year decrease of 34.94%; loss attributable to shareholders of the company was RMB23.944 billion, narrowed by 14.53% year-on-year; basic loss per share was RMB2.01. During the reporting period, with strong support from all parties and the major shareholder, the Group steadily advanced reform and risk mitigation work. In the first three quarters, it completed the delivery of 34,000 homes on schedule and with quality, continuously improving construction quality and delivery reputation; adhered to proactive sales, achieving sales amount of RMB52.01 billion; took multiple measures to revitalize existing resources, totaling RMB19.50 billion in newly revitalized and optimized production capacity; actively seized opportunities in bulk asset transactions, with total contracted amount of RMB2.62 billion. In the first three quarters, the Group's operating services business recorded full-caliber revenue of RMB43.80 billion, a year-on-year increase of 0.5%, with operating quality remaining at the forefront of the industry. On the financing side, the Group continued to receive support from various domestic and overseas financial institutions, with existing financing remaining generally stable; as of the end of the third quarter, the comprehensive cost of existing financing was 2.86%, down 17 basis points from the beginning of the year; regarding shareholder loans, since the beginning of this year, the major shareholder Shenzhen Metro Group has cumulatively provided approximately RMB4.52 billion in shareholder loans to the company, with loan interest rates and pledge rates both better than market convention levels. As of the end of the reporting period, the company had completed risk mitigation for 10 public bonds through partial redemption and supporting extensions, involving a total principal of approximately RMB18.07 billion. During the reporting period, the company faced a situation of multiple intertwined pressures. Affected by multiple factors, sales came under pressure and the operating situation was severe; some financial indicators of debt-servicing capacity had still not improved significantly, and the task of resolving debt risks remained arduous; meanwhile, litigation and tax-related matters also brought certain pressure the company has numerous litigation disputes, and some subsidiaries had delayed tax payments resulting in tax late fees. Looking ahead, the company will continue to focus on the two major themes of risk mitigation and development, firmly advance urban and business focus, continuously enhance product and service capabilities, and continue to optimize the company's asset-liability structure through revitalizing existing resources and bulk asset transactions, and through implementing refinancing, extensions and other financing optimization measures, orderly easing maturity repayment pressure, and prudently disposing of debt risks. At the same time, the company closely monitors relevant industry policies, strengthens forward-looking research and policy assessment, to provide support for business transformation and risk mitigation, and strives to drive the company back onto a healthy and sustainable development track.