China Vanke Faces Revenue and Profit Decline in 2024

China Vanke Co (HK:2202) has released an update.

China Vanke Co. reported a significant decline in revenue and profits for the first nine months of 2024, with revenue dropping by 24.25% and a net loss of RMB 17.9 billion compared to a profit in the same period last year. The company also saw a decline in total assets and equity, highlighting challenges in its financial performance. Investors should note the substantial drop in net cash from operating activities, reflecting the company’s current financial struggles.

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