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  3. Vanke - Wikipedia
Vanke - Wikipedia
From Wikipedia, the free encyclopedia
Vanke Co., Ltd.
万科企业股份有限公司
Company typePublic company
SZSE: 000002
SEHK: 2202
CSI A50
IndustryReal estate
Founded1984
FounderWang Shi
Headquarters
Dameisha, Yantian District, Shenzhen, Guangdong
,
China
Key people
Chairman: Yu Liang
CEO: Yu Liang
RevenueUS$ 65.79 billion (2023)[1]
US$ 1.7 billion (2023)[1]
Total assetsUS$ 212.0 billion (2023)[1]
OwnerShenzhen Metro (29.38%)[2]
Number of employees
131,097 (2023)[1]
Websitevanke.com
Vanke Co., Ltd.
Simplified Chinese万科企业股份有限公司
Traditional Chinese萬科企業股份有限公司
Transcriptions
Standard Mandarin
Hanyu PinyinWànkē Qǐ​yè Gǔ​fènyǒuxiàngōngsī
Yue: Cantonese
Jyutpingmaan6 fo1 kei5 jip6 gu2 fan6*2 jau5 haan6 gung1 si1

Vanke (simplified Chinese: 万科; traditional Chinese: 萬科; pinyin: Wànkē; Jyutping: maan6 fo1) is a large residential real estate developer in China. It is engaged in developing, managing and selling properties across more than 60 mainland Chinese cities in the Pearl River Delta, Yangtze River Delta and Bohai-Rim Region, with the provision of investment, trading, consultancy services and e-business. It also has expanded into Hong Kong, the United States, the United Kingdom, and Malaysia since 2012. Its largest shareholder is Shenzhen Metro.

It is headquartered in Vanke Center (万科中心) in Dameisha, Yantian District, Shenzhen, Guangdong province.[3]

History

Vanke was founded by Wang Shi in 1988. Vanke was listed on the Shenzhen Stock Exchange in 1991, the second listed company in the Shenzhen Stock Exchange after Shenzhen Development Bank. It had the largest market capitalisation in 2006 on the Shenzhen Stock Exchange.

As of 2020, Vanke was ranked 208th in the Fortune Global 500.[4] Fortune reported the company having US$53.253 billion in revenue, US$248.360 billion worth of assets, and 131,505 employees that year.[4]

Vanke was also ranked 96th in the Forbes Global 2000 in 2020.[5]

As of 21 February 2019 its market cap was US$44 billion.

Financial struggle

See also: Chinese property sector crisis (2020–present)

In March 2024, Moody's Ratings downgraded Vanke's credit rating score to Ba1, citing "substantial credit risk" in the company.[6]

Since the beginning of 2025, the company has been dealing with a huge amount of debt due amid a struggling property market. It has around 4.9 billion USD in bonds maturing in 2025, half of its public debt.[7] By the end of 2025 the interest-bearing liabilities stood at 364.3 billion yuan ($52 billion) [8]

Chinese government intervention

China state media the Economic Observer reported that Vanke's CEO Zhu Jiusheng was detained by public security authorities on January 15, 2025.[9][10][11]

Officials in Shenzhen held a closed meeting on January 17, 2025 to discuss Vanke, which is based in the city. The local government has significant control over Vanke due to its largest shareholder being a state firm. The Shenzhen government intended to stabilize Vanke's operations. They planned to introduce new auditors and financial advisers to evaluate Vanke's finances and property projects for future actions.[12][13]

Financial Information (Yuan)[14]
Year Operating Revenue Operating Profit
2022 503,838,367,359 52,029,046,370
2023 465,739,076,702 29,251,702,064
2024 343,176,440,713 (45,643,796,281)

See also

References

  1. ^ a b c d "China Vanke". Fortune Global 500. Fortune. Retrieved 2024-08-24.
  2. ^ 戈振伟 (19 March 2024). "曾经年赚百亿的深圳地铁压力显现：被万科"套住"，2023年前三季度净利润下滑302%|界面新闻". Jiemian (in Chinese). Retrieved 26 March 2024.
  3. ^ "Contact Us Archived 2019-08-10 at the Wayback Machine." Vanke. Retrieved on November 9, 2018. "Headquarters of Vanke Co., Ltd. Address：Vanke Center, No.33 Huanmei Road, Dameisha, Yantian District, Shenzhen" - Address in Chinese Archived 2021-11-14 at the Wayback Machine: "深圳市盐田区大梅沙环梅路33号万科中心"
  4. ^ a b "Vanke". Fortune. Archived from the original on 2021-05-26. Retrieved 2021-05-26.
  5. ^ "Vanke". Forbes. Archived from the original on 2021-05-26. Retrieved 2021-05-26.
  6. ^ "Moody's downgrades major Chinese property developer Vanke". CNA. Archived from the original on 2025-01-21. Retrieved 2024-03-12.
  7. ^ "Vanke Bond Distress Deepens Ahead of $4.9 Billion Maturity Wall". Bloomberg.com. 2025-01-08. Retrieved 2025-01-25.
  8. ^ "China Vanke bondholders reject payment extension, raising default risk | Reuters". Reuters.com. 2025-12-14. Retrieved 2025-12-15.
  9. ^ "China Vanke's CEO detained by authorities, state media reports". The Business Times. 2025-01-16. Retrieved 2025-01-16.
  10. ^ "China Vanke's CEO detained by authorities, state media reports - The Economic Times". m.economictimes.com. Retrieved 2025-01-16.
  11. ^ Jim, Clare; Tang, Ziyi; Wu, Kane (January 21, 2025). "Vanke woes to test limits of China's property sector revival efforts". Reuters.
  12. ^ "China steps up Vanke intervention as developer's woes deepen". The Straits Times. 2025-01-20. Archived from the original on 2025-01-23. Retrieved 2025-01-25.
  13. ^ "China Steps Up Vanke Intervention as Developer Woes Deepen". Bloomberg.com. 2025-01-20. Retrieved 2025-01-25.
  14. ^ "投资者关系 财务信息" [Financial Information]. 万科企业股份有限公司.
Wikimedia Commons has media related to Vanke.


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