Vanke Co., Ltd Audit Report on the 2025 Financial Statements Includes a section with significant uncertainty about going concern Special notes on unqualified opinions
About Vanke Co., Ltd
Special Explanation of Unqualified Opinions in the 2025 Financial Statement Audit Report with Significant Uncertainties in Going Concern Moral Teacher Newspaper (Letter) No. (26) Q00356 Board of Directors of Vanke Co., Ltd.: We accepted the commission and, in accordance with the Chinese Certified Public Accountant Auditing Standards, audited Vanke Enterprise Co., Ltd. (hereinafter referred to as "Wan." Section") financial statements for the year 2025, and on March 31, 2026, issued a statement of 'None' with a segment of significant uncertainty regarding going concern Qualified Opinion Audit Report (Report No.: Deshi Bao (Review) Zi (26) No. P05529). According to the China Securities Regulatory Commission's "Rules No. 14 for Information Disclosure and Filing by Companies Publicly Issuing Securities—Non-standard Quasi-audit opinion and handling of related matters, Guidelines for the Application of Regulatory Rules—Audit Category No. 1, Shenzhen Securities Exchange
We have issued a segment of significant uncertainty regarding Vanke's above financial statements, including the 'Yisuo Stock Listing Rules' and other related requirements
The special explanation for unqualified opinions is as follows:
- The overall materiality level of the consolidated financial statements In audits, we follow the "Chinese CPA Auditing Standard No. 1221—Weights for planning and executing audit work." The "Essentials" and its application guide, selecting net assets as the benchmark and multiplying this benchmark by 1.2% to calculate the overall materiality of the consolidated financial statements Sexual level. The overall materiality level of the consolidated financial statements was RMB 2.8 billion.
- The content of the material uncertainties related to going concern in the audit report We remind users of the financial statements to pay attention to note (2) 2 of the financial statements, Vanke's 2025 event attributable to the parent company The net loss for shareholders was RMB 88.6 billion, and as of December 31, 2025, Vanke's consolidated financial statements were reported short The total amount of loans for the period, shareholder loans among other payables, and interest-bearing liabilities due within one year is RMB 160.6 billion The balance of gold and cash equivalents was RMB 61.5 billion. These matters or circumstances, together with Note (2) 2 of the financial statements, are as specified in the financial statements