China Vanke reported a 14.95 billion yuan ($2.2 billion) net loss attributable to shareholders for the first half of 2026, widening 25.2% from a year earlier, while revenue fell 33.4% to 70.17 billion yuan. Property development revenue declined to 48.7 billion yuan, with gross margin falling to 6.1%, and impairment provisions recognized or increased during the period totaled 4.273 billion yuan, bringing the balance of all provisions to 94.607 billion yuan. Despite the loss, net cash flow from operating activities surged 116.28% year on year to 495 million yuan. Vanke extended maturities on 10 bonds and has repaid or disposed of risk related to about 48.5 billion yuan of maturing public debt principal since 2025, while Shenzhen Metro provided approximately 4.52 billion yuan in shareholder loans this year. Operating services revenue grew to 28.85 billion yuan on a consolidated basis, supported by Onewo, commercial operations, rental housing and VX Logistics. Following the July 31 board reshuffle that appointed Xu Enli as chairman, Vanke said it would prioritize risk resolution, asset revitalization, core-city development, operating efficiency and sustainable cash generation.