万科企业
股份有限公司

Vanke takes the vision of “Centering on Urban Ecology, Delivering a Better Life, and Becoming an Excellent Enterprise for the Transformation and Development of the Real Estate Industry in the New Era”. It is committed to providing quality products and services for ordinary people, growing in tandem with cities and customers. In 2025, Vanke achieved operating revenue of RMB 233.43 billion.

In real estate development, Vanke adopts a full-cycle and all-category development and operation strategy. Its business covers comprehensive residential communities, EPC and construction management, urban renewal, Transit-Oriented Development (TOD), etc., aiming to continuously improve urban living quality. In 2025, the Company recorded a sales area of 10.25 million square meters, sales proceeds of RMB 134.06 billion, and delivered 117,000 housing units.

Vanke pushes forward housing delivery work in a steady and orderly manner. In 2025, it completed deliveries for 234 projects across 494 batches. The Group continuously strengthens full-cycle management of project engineering quality, implements management standards and procedures including lean planning, model demonstration, working procedure acceptance, in-process quality assessment and pre-delivery quality evaluation, and establishes a full-cycle construction control system covering design, procurement, construction and delivery. In 2025, more than 28,000 customers visited Vanke construction sites to witness the construction progress and experience Vanke’s construction quality. For systematic capacity building, the Company simultaneously improves institutional frameworks and supply chain support. Vanke Group Residential Product Standards has been implemented and fully rolled out in 37 projects to guarantee consistent product quality and baseline standards. Through the continuous implementation of the “SkyNet Initiative”, all-round supervision is conducted over Vanke’s products. Vanke promotes the upgrade from quality delivery to “Vibrant Delivery”, covering four dimensions: premium quality, enriched scenarios, refined services and enhanced experience. The Company collaborates with property owners to organize diverse community events, build various activity spaces and strengthen neighborhood connections within communities.

Vanke consistently adheres to the business philosophy of “Quality Homes, Quality Services, Quality Communities”. Through continuous iteration of residential product lines including the Xi Series, Lu Series and Impression Series, the standards for “quality homes” have been translated into mass-producible product systems. Supported by the integrated model of “Space + Content + Services”, Vanke advances standardized R&D and scenario-based implementation of product modules. It systematically builds the CO·Life Indoor Box public service system comprising community lobbies, central landscapes, learning boxes, fitness boxes and more. Meanwhile, the Company launches block modules for “Vibrant Commercial Streets” and town center product modules, integrating diverse functions such as community commerce, neighborhood communication, sports, leisure and park green spaces. This enhances the integrity of living scenarios and operational sustainability, and has been comprehensively applied in benchmark projects in Shanghai, Guangzhou, Hangzhou, Jinan and other cities.

In the property services sector, Wonders Group under Vanke is a leading comprehensive space service provider in China. Leveraging AIoT (Artificial Intelligence of Things) and BPaaS (Business Process as a Service) solutions to realize Remote & Hybrid operations, it improves space service efficiency for customers. In September 2022, Wonders Group was listed on the Main Board of the Hong Kong Stock Exchange with the stock code 2602.HK. Rooted in services and empowered by technology, as a technology-driven, low-carbon-focused asset service provider, Wonders Group relies on Lingshi, an AI real estate platform, to deliver property services and facility management services covering residential spaces, commercial and corporate premises, university campuses, hospitals and urban public spaces. It also provides maintenance & renovation, leasing and trading, community commercial operation, shared corporate services and smart space operation services for communities and corporate assets. Guided by sustainable development concepts and an altruistic mindset, it creates resilient, vibrant and smart “Ideal Places” in different spaces. In 2025, Wonders Group’s business covered 690 Diecheng areas, 4,638 residential property service projects, and 2,589 property and facility management projects.

In the rental apartment sector, Boyu, Vanke’s long-term rental apartment brand, is China’s largest centralized apartment operator. Committed to providing one-stop living solutions for aspiring and dynamic urban youth, Boyu focuses on affordable rental housing and deepens cooperation with local governments, state-owned enterprises and other partners. As of the end of 2025, Boyu operated across 29 cities nationwide, managing 270,200 long-term rental units among which 197,800 units were open for occupancy.

In the commercial sector, Vanke’s commercial development and operation business covers shopping malls, community commerce and other formats. Imprint is the specialized commercial property development and operation platform under the Group. Upholding the philosophy of “Green Ecology, Customer Centricity”, it continuously enhances commercial resources, business platforms and development management capabilities, creates tangible value for consumers and merchants, delivers high-quality experiences for the public’s better life, acts as a practitioner of green and low-carbon innovation missions, and contributes to urban development and consumption upgrading. As of the end of 2025, the commercial development and operation business operated 178 commercial projects (excluding light-asset managed projects), with a total operating floor area of 10.78 million square meters. The planned and under-construction commercial floor area reached 1.45 million square meters.

In logistics warehousing services, Vanke Logistics serves as Vanke’s platform for warehousing services and integrated supply chain solutions. It provides customers from various industries with full-temperature-range warehouse leasing, in-warehouse operation, cold chain warehousing & distribution, integrated supply chain services and logistics technology services. As of the end of 2025, Vanke Logistics had 147 operational projects with a leasable area of 10.45 million square meters, including 8.44 million square meters of high-standard warehouses and 2.01 million square meters of cold storage space. Vanke Logistics fully pursues green and sustainable development. The cumulative floor area with green building certifications exceeds 9 million square meters. A total of 115 projects have obtained Three-Star Green Building Certification, and 14 cold chain parks have achieved LEED Platinum/Gold certification.

In the industrial office sector, the industrial office business centers on the demands of corporate clients. Supported by digitalized operation and human-centric services, it builds efficient and diversified office spaces to fuel corporate growth and industrial efficiency improvement. As of the end of 2025, Vanke’s industrial office business has deployed in 21 cities nationwide with 62 operating projects, ranking among the first tier of China’s office industry. It serves more than 7,000 tenants, including 156 Fortune Global 500 companies, 132 China Fortune 500 companies and 177 industry unicorns, with a major customer retention rate of approximately 70%.

In the hotel service sector, Vanke operates 31 hotels located in core cities including Beijing, Shenzhen, Guangzhou and Chengdu, as well as popular tourist destinations such as Yangshuo and Lijiang. It owns two self-operated brand systems: Zhanyun positioned as high-end business hotels and Youxiong featuring urban cultural characteristics.

Vanke deeply integrates technology into business processes and realizes transformation toward new quality productive forces through digital tools. In industrialized construction, the Group has developed a mature “5+2” technical system. In digital application, self-developed software including AI drawing review and Dou 拱 (Dougong), an asset visualization modeling tool, has become industry benchmarks. In property services, Wonders Group built an enterprise-level AI platform, representing exemplary scenario-based AI applications within the property industry. For long-term rental apartments, Boyu optimizes procedures including check-out inspection forms, vacant apartment patrols, vacant unit acceptance and pilot inventory management functions. Combined with housing status label optimization, it gradually realizes standardized online full-process management of vacant units. In logistics warehousing, leveraging resource advantages of Shenzhen Metro Group, Vanke Logistics explores the innovative urban logistics model of “Rail Transit + Robot Delivery” to cut costs and improve efficiency, delivering robust technical support for the Group’s shift toward a new development model.

Actively responding to policy guidance, Vanke advances urban renewal with meticulous craftsmanship. It gives full play to its accumulated strengths in building historical and cultural blocks and district regeneration, and deeply participates in the protection and revitalization of urban historical and cultural neighborhoods. Through government-enterprise collaboration and integrated district planning, Vanke has developed a series of urban landmarks featuring new business forms and scenarios, such as Yongqingfang in Guangzhou, Nantou Ancient Town in Shenzhen, Sino-Ocean Taikoo Li Qiantan (Former Columbia Circle) in Shanghai and Yantai Mountain in Fuzhou.

Drawing on accumulated business experience and capabilities, Vanke actively carries out construction management services, mainly serving government authorities, state-owned enterprises, financial and high-tech enterprises. Project types cover commercial residential buildings, schools, affordable housing, industrial offices, urban renewal and medical facilities. In 2025, the Group managed 76 projects with a total construction area of 14.86 million square meters and won 54 awards. These include the “2025 Standardized Safe Construction Site for Construction Projects” awarded by China Construction Industry Association, the “2025 National Model Project for On-site Study” granted by China National Association of Construction Enterprise Management, “Guangdong Excellent Structural Quality Construction Project” awarded by Guangdong Construction Industry Association, and the “2025 Standardized Safe Construction Site for Guizhou Construction Projects” issued by Guizhou Construction Engineering Quality & Safety Association.

Since the promotion of green buildings in 2009, all newly built projects of Vanke have met green building evaluation standards for 12 consecutive years. As of the end of 2025, the cumulative floor area of projects complying with green building standards exceeded 342 million square meters, with an additional 7.1 million square meters added in the year. Among newly launched projects, 9 obtained Green Building Two-Star or above certification and 2 achieved LEED Gold certification. All newly built logistics projects were awarded Three-Star Green Warehouse Certification.

China Vanke Foundation adheres to the philosophy of “Forward-looking and Pioneering”. It focuses on long-term issues and takes building sustainable communities as its direction to advance harmonious development between people and society, and between humanity and nature. In 2025, the Foundation centered its work on three strategic priorities: demonstration and promotion of carbon-neutral communities, community waste management, and telling China’s climate stories. Highlighting biodiversity conservation, it continuously practices and disseminates the concept of sustainable communities.

Vanke responds to the national strategy shifting from targeted poverty alleviation to rural revitalization. It conducts diverse poverty alleviation initiatives across multiple provinces and autonomous regions including Guangdong, Guangxi, Xizang, Xinjiang, Gansu, Guizhou, Yunnan, Hunan and Fujian. As a co-builder, Vanke emphasizes respecting local rural conditions, stimulating internal vitality and promoting industrial integration. In 2017, Xinghua Municipal Government of Jiangsu Province, Nanjing Vanke and village collectives jointly launched the “Bishui Dongluo” Project. In 2025, Dongluo Village was selected as a UNWTO Best Tourism Village, the first village in Jiangsu Province to receive this honor. It has embarked on a sustainable development path featuring coordinated revitalization of ecology, culture and industries.

Looking into the future, the Company will always uphold its core mission of “Quality Homes, Quality Communities, Quality Services”. Remaining committed to its original aspiration and putting customers first, Vanke delivers on its mission through pragmatic actions, strives to create tangible value for shareholders and society, and rewards trust and entrustment from all stakeholders with responsibility and solid work.