US EditionChina property giant Vanke reports annual loss of US$6.8 billion
- Vanke reported annual losses of 49.5 billion yuan on March 31, citing falling sales and profit margins despite Beijing's market revival efforts.
- 2024 was described by Vanke as an 'exceptionally challenging year,' and the company apologized for the distress caused by significant sales declines.
- The company partly attributed the losses to a significant decrease in the settlement scale and gross profit margin of the development business.
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Business Times
Business TimesChina property giant Vanke reports annual loss of US$6.8 billion
HONG KONG: Debt-laden Chinese property giant Vanke reported annual losses of 49.5 billion yuan (US$6.8 billion) on Monday (Mar 31), citing falling sales and shrinking profit margins despite Beijing's attempts to
·Singapore
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China's property giant Vanke reports annual loss of US$6.8bil
HONG KONG: Debt-laden Chinese property giant Vanke reported annual losses of 49.5 billion yuan (US$6.8 billion) on Monday, citing falling sales and shrinking profit margins despite Beijing's attempts to revive the housing market. © New Straits Times Press (M) Bhd
·Malaysia
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