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Story summary
- China Vanke Co., Ltd. reported a record loss of 88.56 billion yuan (US$12.83 billion) for the previous year, exceeding the 82 billion yuan forecast and marking its second full-year loss since listing in 1991.
- Revenue fell 32% to 233.43 billion yuan.
- Basic loss per share was 7.45 yuan, down 78.4%.
- Property sales declined to 10.25 million square meters, a 43.4% year-on-year drop, with experts indicating the residential recovery remains elusive.
