---
title: "VANFUND (000638.SZ) — Financial Reports"
type: "Symbol"
locale: "en"
url: "https://longbridge.com/en/quote/000638.SZ/norm.md"
symbol: "000638.SZ"
name: "VANFUND"
parent: "https://longbridge.com/en/quote/000638.SZ.md"
datetime: "2026-03-12T13:40:47.680Z"
locales:
  - [en](https://longbridge.com/en/quote/000638.SZ/norm.md)
  - [zh-CN](https://longbridge.com/zh-CN/quote/000638.SZ/norm.md)
  - [zh-HK](https://longbridge.com/zh-HK/quote/000638.SZ/norm.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/quote/000638.SZ/norm.md) | [繁體中文](https://longbridge.com/zh-HK/quote/000638.SZ/norm.md)


# VANFUND (000638.SZ) — Financial Reports

## Income Statement (CNY)

| Indicator | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 |
| --- | --- | --- | --- | --- | --- |
| EPS | -0.0115 | -0.0080 | -0.0081 | -0.0054 | 0.0385 |
| ROE | -10.08% | -6.87% | -6.76% | -6.46% | 28.35% |
| Revenue | 22.97M | 51.52M | 101.05M | 282.05M | 61.12M |
| Net income | -3.57M | -2.50M | -2.52M | -2.64M | 12.25M |
| Operating income | -4.33M | -3.06M | -2.63M | -9.05M | 7.27M |
| Gross margin | 8.46% | 7.04% | 2.94% | 3.54% | 10.52% |
| Net margin | -15.54% | -4.86% | -2.50% | -0.94% | 20.04% |
| Profit quality | -67.91% | - | - | -14.53% | -20.20% |

## Balance Sheet (CNY)

| Indicator | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 |
| --- | --- | --- | --- | --- | --- |
| A&L | 265.74M | 271.83M | 304.24M | 302.12M | 322.49M |
| Leverage | 1.95 | 1.91 | 2.12 | 2.04 | 1.84 |
| BVPS | 0.4480 | 0.4621 | 0.4737 | 0.4851 | 0.5661 |
| Turnover | 1.56 | 1.38 | 1.22 | 1.02 | 0.2963 |
| Cash & STI | 26.63M | 25.81M | 33.77M | 52.74M | 60.68M |
| Inv & Rec | 29.16M | 35.57M | 46.20M | 41.09M | 38.47M |
| LT assets | 52.53M | 51.71M | 51.17M | 51.09M | 46.53M |
| Net debt | 21.69M | 20.83M | 13.05M | -5.77M | -12.77M |

## Cash Flow Statement (CNY)

| Indicator | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 |
| --- | --- | --- | --- | --- | --- |
| Operating CF | 6.38M | -2.46M | -17.60M | 62.32M | -35.99M |
| Investing CF | -3.02M | -6.31M | -1.54M | -73.53M | 86.21M |
| Financing CF | -2.54M | 816556.00 | 163502.00 | 1.96M | -7.52M |
| Free CF | -4.98M | -18.29M | -19.05M | -20.80M | -25.87M |
| OCF coverage | 284.34% | -4.38% | -767.73% | 132.76% | 165.15% |
| Repaid & issued | 2.65M | 43.52M | 920000.00 | 49.78M | -43.96M |
| CapEx | -3.02M | -12.97M | -1.54M | -13.40M | -3.10M |