In 2025, amid profound transformations and challenges brought by the shift between old and new industry models, China Vanke has maintained a prudent and steady development stance, and firmly implemented the "Three Commitments" strategy — committing to strategic focus, standardized operation, and technology empowerment. Upholding long-termism to weather cyclical fluctuations, we concentrate on core businesses, continuously optimize resource allocation, strengthen lean management, advance business layout optimization and structural adjustment, and steadily push forward reforms and risk mitigation. We keep consolidating our operational foundation amid mounting pressures.

Pursuing Operational Excellence: Delivering on Long-term Promises through Quality Homes and Better Lives

In terms of operational philosophy, China Vanke centers on quality products and premium services supported by technological innovation, and consistently fosters future-oriented core competitiveness. Working toward the goal of providing "quality homes", we pursue excellence in every link from design and construction to handover. Leveraging digital design, intelligent construction and full-process quality management, we enable more families to settle in with peace of mind.

In operation and service segments, we keep refining community operation and service systems, lifting service standards across diversified businesses including property services, long-term rental apartments, commercial operations and logistics. Supported by smart platforms and unified business middle offices, we deliver timelier responses, more consistent user experience and enduring trust.

For technology empowerment, we ensure technologies serve real business scenarios. From AI construction management to track-based delivery robots, we facilitate in-depth integration of new technologies with businesses to cut costs and improve efficiency, while enabling more convenient and reassuring services. At the governance level, we adhere to strategic focus, standardized operation and structural optimization to lay a solid foundation for sustainable long-term growth.

Advancing Environmental Stewardship: Addressing Long-term Challenges via Green Transition

In terms of environmental practice, China Vanke integrates green and low-carbon philosophies into the full cycle of planning, construction and operation, and actively responds to long-term challenges posed by climate change and resource constraints.

During project development, we promote prefabricated construction and green building technologies to drive the industrialization and sustainability transformation of construction methods. In operation management, we carry out refined energy management, energy-saving retrofits for aging projects and clean energy deployment to embed low-carbon practices in more spaces. Meanwhile, we embed TCFD and TNFD frameworks into our governance system to continuously enhance our capacity to adapt to long-term environmental changes.

Fulfilling Social Responsibility: Connecting People and Cities

In terms of social commitment, China Vanke puts people at the heart of our development. Employee growth, co-governed communities and urban responsibilities constitute key components of our long-term value.

We continuously improve talent training and career development systems, strengthen occupational safety and health management, and build a stable, inclusive workplace offering ample growth opportunities for employees.

When supporting urban and community development, we actively participate in urban renewal and public space creation, facilitating the integrated development of historical heritage and modern lifestyles.

In collaboration with partners, we uphold openness, transparency, fairness and compliance, improve responsible procurement and compliance management mechanisms, and collectively safeguard a sound and orderly industry ecosystem.

The Company’s ESG performance has gained recognition from domestic and overseas capital markets, indices and rating agencies. In 2025, Vanke’s rating on the Hang Seng ESG Index (HSSUS) was upgraded to AA-, ranking among the top 10% of domestic property peers. It obtained an AA ESG rating from the Shenzhen Stock Exchange’s CNIS Index. In addition, the Company remains a constituent of the Hang Seng A-share Sustainable Development Enterprises Index, Hang Seng Mainland & Hong Kong Sustainable Development Enterprises Index, Hang Seng Stock Connect A-share ESG Leaders Index and Hang Seng Sustainable Development Enterprises Benchmark Index.

Looking ahead, we will stay focused on core businesses, deepen reform and innovation, and coordinate high-quality development with risk prevention and control. While supporting urban development and meeting people’s aspirations for a better life, we will steadily boost organizational resilience and value creation capabilities. Working hand in hand with all stakeholders, we will steer the enterprise toward a more sustainable development trajectory.