Gelonghui, April 29 | Vanke Enterprise (02202.HK) announced that in the first quarter of 2024, the Group achieved operating revenue of RMB 61.59 billion, a year-on-year decrease of 10.0%. Among them, the real estate development business contributed RMB 46.67 billion to revenue, a year-on-year decrease of 13.8%; the operating service business contributed RMB 10.95 billion to revenue, an increase of 12.0% over the previous year. Affected by the decline in settlement scale and the decline in gross margin of the development business, the Group achieved a profit of RMB 360 million for the period attributable to shareholders of the company, a year-on-year decrease of 125.0%.
In the first quarter, before tax and surcharges, the Group's gross margin of settlement was 10.5%, down 6.7 percentage points from the previous year; the gross profit margin of the operating business was 18.9%, up 5.4 percentage points from the previous year; and the overall gross profit margin was 10.8%, down 4.6 percentage points from the previous year.
As of the end of the reporting period, the debt ratio after deducting advance payments was 64.9%, down 0.6 percentage points from the end of 2023, and the net debt ratio was 59.3%; holding monetary capital of RMB 83.07 billion can cover interest-bearing liabilities due within one year.