Vanke A: Expected net loss of 7 billion yuan - 9 billion yuan in the first half of 2024

On July 9, Vanke A announced that it expects a net loss of 7 billion to 9 billion yuan in the first half of 2024, a year-on-year decrease of 171% to 191%. Net loss after deducting non-recurring gains and losses was 5 billion to 6.50 billion yuan, a year-on-year decrease of 157% to 175%. The main reasons include a significant decrease in the settlement scale and gross profit margin of real estate development projects, impairment of some projects, loss of financial investment in non-main business, and lower prices of bulk asset transactions and equity transactions than book value. The company has formulated a "package plan" for business reorganization and risk mitigation, and has made positive progress.