Huang Liping appointed as chairman of Vanke, with broad support to promote reform and risk mitigation

```

On October 13, Vanke issued an announcement that the company held a board meeting, at which Huang Liping was elected as chairman of the board, and Xin Jie resigned from the position. Industry insiders believe that the new chairman, being a former member of the board and familiar with the company, will be conducive to continuity and stability in operations. The adjustment of individual managers will not affect the progress of the company’s reform and risk mitigation. Since the beginning of this year, with strong support from the Shenzhen municipal government and relevant authorities, the largest shareholder Metro Group, and financial institutions, Vanke’s reform and risk mitigation have advanced steadily, maintaining stability in the workforce, finances, and business operations despite multiple challenges.

Since the beginning of this year, with the support of the major shareholder and others, Vanke’s reform and risk mitigation have made solid progress. According to the latest semi-annual report, all of Vanke’s public bonds due in the first half of the year were repaid on time, and there are no offshore public bonds maturing before 2027. Looking to the second half of the year, Vanke previously stated that, guided by policies, with the support of financial institutions, the backing of state-owned shareholders, and the help of partners, and relying on its own efforts, the company is confident and capable of meeting challenges.

While systematically resolving risks, Vanke has seen steady development across multiple business lines. In the first half of the year, Vanke achieved revenue of 105.3 billion yuan, with sales income from integrated residential communities of nearly 70 billion yuan, delivered over 45,000 high-quality units, maintained a sales collection rate of 100%, and achieved a sell-through rate of more than 90% on new project launches in many regions. Simultaneously with efforts to boost sales, Vanke leveraged various supportive policies to create a systematic approach to revitalizing existing assets. In the first half of the year, nearly 10 billion yuan in existing assets were optimized or added to capacity, with nearly 6 billion yuan in revitalized payments collected; since 2023, approximately 78.5 billion yuan in asset value has been revitalized, with cumulative new sales exceeding 20 billion yuan. Since 2022, all new Vanke projects have been included in full-cycle post-investment management, with an 85% investment realization rate for new projects. In terms of operational services, in the first half of the year, Onewo achieved revenues of 18.2 billion yuan, maintaining industry-leading expansion capacity in the residential stock market; Vanke’s long-term rental business consolidated its leading position, with industry-leading scale, efficiency, and contracted volume. Key commercial business indicators such as customer traffic, sales, and revenue per square meter grew steadily in the first half, logistics maintained industry-leading occupancy rates, and warehousing, operations, and transport services revenue increased by 43% year-on-year.

It is worth mentioning that Vanke is also actively engaged in technological innovation to improve products and services through technology. In the field of smart construction, Vanke pioneered the blueprint large model and related products, which have become industry-level applications, serving more than 1,000 internal and external projects, providing online blueprint review services for nearly 100 industry partners, and jointly launching the “Building Blueprint Large Language Model” project with the national archive. In property services, the “Lingshi” edge server system created by Onewo can monitor 95% of community equipment online in real time; the “Feige” work order system has built the industry’s largest real-time response network for work orders. In the long-term rental apartment sector, BoYu’s operations are fully automated, improving efficiency through end-to-end SaaS processes, and maintaining a GOP margin above 89% at project front desks. In the smart logistics field, Vanke and Shenzhen Metro jointly launched the world’s first pilot program in which robots autonomously take the subway to deliver goods to merchants. Robots, developed by Vanke subsidiary Wanwei Logistics, use subway off-peak hours to transport goods, autonomously plan optimal routes, and deliver to merchants in the subway system. This cooperation “went viral” and has drawn widespread attention in the market.

Risk Warning and DisclaimerThe market involves risks, and investment requires caution. This article does not constitute personal investment advice, nor does it take into account the specific investment objectives, financial situation, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article are suitable for their particular situation. Investment decisions based on this are at one's own risk. ```