During the National Day holiday period, China Vanke Co.,Ltd. achieved sales bookings of 4.77 billion yuan without new project launches, exceeding its target by 137%. All 16 regional subsidiaries met their sales goals, with projects in Guangzhou and Guiyang topping local sales charts. In October, the company's Shanghai Gaofu Yunjing project sold out all 25 high-end units priced between 130-170 million yuan, with total sales surpassing the entire high-end market transaction volume in Shanghai.

Amid liquidity constraints, Vanke has focused on optimizing existing resources to replenish inventory. From January to September, the company generated 17.84 billion yuan through resource optimization and added capacity, while realizing 7.11 billion yuan in cash returns from existing assets. During the first three quarters, Vanke acquired 13 new projects with a total equity construction area of 571,000 square meters and equity land costs of approximately 2.81 billion yuan.

As of September 30, Vanke's ongoing projects cover 29.78 million square meters (19.61 million equity), with planned projects totaling 29.58 million square meters (18.92 million equity). The company has repaid 28.89 billion yuan in public debts by the Q3 reporting date, supported by continuous liquidity injections. Current cash reserves stand at 65.68 billion yuan against total interest-bearing debt of 362.93 billion yuan.

Major shareholder Shenzhen Metro Group has provided substantial support, including a recent 2.2 billion yuan shareholder loan, bringing total support to 29.13 billion yuan. Vanke raised approximately 26.5 billion yuan in new and refinanced financing during the period, with domestic financing costs dropping 6 basis points to 3.44% compared to 2024 levels.

While acknowledging persistent operational challenges, Vanke emphasized its commitment to maintaining workforce stability, financial health, and production continuity with strong shareholder support. However, the company warned of worsening conditions due to continued sales declines, tightening liquidity, and mounting debt repayment pressures.

Concurrently, Vanke has implemented significant organizational restructuring to strengthen headquarters functions, streamline regional management, and consolidate business unit resources, with these reforms still underway.