Summary by Moomoo AI
China Vanke Co., Ltd. (the "Company") announced unaudited financial performance for the six months ended June 30, 2024. During the period, the Company and its subsidiaries achieved revenue of RMB 142,778,764, a decrease of 28.93% compared to the same period last year. Shareholders of the Company incurred a loss of RMB 9,852,500, a decrease of 199.82% year-on-year, with a basic loss per share of RMB 0.83. The loss in this period's performance is mainly due to the decline in the scale and gross margin of the development business, provision of impairment, losses from non-core financial investments, and taking more decisive actions to accelerate the return of funds through asset transactions and equity disposals, with some transaction prices lower than the book value. In...Show More