Huang Liping appointed as Chairman of Vanke, with multiple parties supporting the promotion of reform and risk mitigation

On October 13, Vanke announced that the company held a board meeting, during which Huang Liping was elected as the chairman of the board, and Xin Jie resigned from the position. Industry insiders believe that the new chairman, who is a former board member, is familiar with the company's situation, which is beneficial for continuity and stability in operations. Adjustments among individual managers will not affect the progress of the company's reform and risk management. Since the beginning of this year, with strong support from the Shenzhen municipal government, relevant departments, major shareholder Metro Group, and financial institutions, Vanke's reform and risk management have been steadily advancing, achieving stability in its workforce, finances, and operations despite multiple challenges.

This year, with the support of major shareholders and various parties, Vanke's reform and risk management have made positive progress. According to the latest semi-annual report, Vanke's public debts were all repaid on schedule in the first half of the year, and there are no foreign public debts maturing before 2027. Looking ahead to the second half of the year, Vanke previously stated that with the guidance of policies, support from financial institutions, backing from state-owned major shareholders, and assistance from partners, the company is confident and capable of facing challenges through its own efforts.

While systematically resolving risks, Vanke's various businesses have steadily developed. In the first half of the year, Vanke achieved revenue of 105.3 billion yuan, with sales revenue from comprehensive residential projects nearing 70 billion yuan, high-quality deliveries exceeding 45,000 units, and a sales collection rate of 100%. In many locations, project opening and sales rates exceeded 90%. While fully focusing on sales, Vanke leveraged various supportive policies to form a systematic approach to revitalizing existing inventory, optimizing and adding nearly 10 billion yuan in capacity through inventory revitalization in the first half of the year, and revitalizing collections of nearly 6 billion yuan. Since the beginning of 2023, approximately 78.5 billion yuan in inventory value has been revitalized, with cumulative new sales exceeding 20 billion yuan. Since 2022, all new projects of Vanke have been included in full-cycle post-investment management, with an investment realization rate of 85% for new projects. In terms of operational services, Wanwu Cloud achieved revenue of 18.2 billion yuan in the first half of the year, maintaining industry-leading capabilities in expanding the existing residential market. Vanke's long-term rental business has consolidated its leading position, with business scale, efficiency, and insurance coverage remaining the highest in the industry. Key indicators such as customer traffic, sales, and per square meter efficiency in the commercial business steadily grew in the first half of the year, while the rental rate in the logistics business remained industry-leading, with service revenues from in-warehouse operations and transportation increasing by 43% year-on-year.

It is worth mentioning that Vanke is also actively engaged in technological innovation, fully utilizing technology to enhance product services. In the field of intelligent construction, Vanke's pioneering large model of blueprints and related products have become industry-level applications, serving over 1,000 internal and external projects and providing online blueprint review services for nearly 100 industry partners. Additionally, Vanke has completed a project collaboration with the National Archives for the "Large Language Model of Architectural Blueprints." In the property service sector, the "Ling Shi" edge server system developed by Wanwu Cloud can achieve 95% online dynamic monitoring of community equipment, while the "Fei Ge" work order system has built the industry's largest real-time response network for work orders. In the long-term rental apartment sector, the operation of Boyu has achieved full automation, improving efficiency through a fully SaaS process, with the front-end GOP profit margin of projects consistently maintaining above 89%. In the field of smart logistics, Vanke has partnered with Shenzhen Metro to launch the world's first pilot cooperation where "robots autonomously take the subway to deliver goods for merchants." The robots, developed by Vanke's subsidiary Wanwei Logistics, utilize idle time on the subway to transport goods autonomously, planning the optimal route for delivery to subway merchants. This cooperation has successfully gained widespread market attention