Vanke reports major impairment, secures loan as assets decline

China Vanke announced significant impairment provisions for the third quarter of 2025, totaling 9.37 billion yuan, with inventory impairment accounting for 9.19 billion yuan. This resulted in a net loss attributable to shareholders of 28.02 billion yuan for the first nine months of 2025. The company’s total assets declined by 11.64% to 1.14 trillion yuan compared to the end of last year.

To bolster its financial position, Vanke secured a loan of up to 2.2 billion yuan from its largest shareholder, Shenzhen Metro Group Co., Ltd., at an interest rate below the one-year LPR. This loan will be used to repay bond principal and interest. The company reported a 26.61% decrease in operating revenue to 161.39 billion yuan for the first nine months of 2025, with property development sales declining significantly.

Despite these challenges, Vanke delivered 74,000 homes in the first three quarters, achieved sales of 100.46 billion yuan, and secured 26.5 billion yuan in new and refinancing. The company continues to optimize its business and dispose of non-core assets to enhance liquidity and maintain a robust financial standing.