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One of China's largest homebuilders, now backed by Shenzhen Metro as its largest shareholder after the property-sector crisis.
One of China's largest homebuilders, now backed by Shenzhen Metro as its largest shareholder after the property-sector crisis.
Revenue arrives when it hands over flats bought off-plan, so each year's results reflect sales made earlier in the property cycle. Property management and rental malls give slower, steadier income. Shenzhen Metro, a city-owned group, has been the largest shareholder since 2017 and has backed the company through the sector's debt crisis.
In one line: A major Chinese homebuilder that needed a state-linked shareholder bailout.
Moat: none (scale). Scale homebuilder but weakened balance sheet needing state-linked shareholder support.
Headquarters: Shenzhen, China · Founded: 1984 · Employees: 131,429
Size China Vanke (2202.HK) is a Hong Kong Real Estate company (Real Estate Development) with a market value of $5.28B, the 246th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$2.21 on 6 Nov 2026.
Performance Over six months the shares fell 30.1%, against -6.5% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 35.1% over the last twelve months (peer median +8.1%); the operating margin is -26.6% (peer median 21.0%).
Valuation It trades at 0.24× book value against a peer median of 0.94× (cheapest of 21).
Price implies The share price implies a return on equity of about 5.5%; China Vanke delivers -62.4%, so the price asks more than the business earns today.
Next results Next results expected around 1 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$200B | HK$255B | HK$375B | HK$519B | HK$592B |
| Revenue growth | — | -32% | -28% | -12% | — |
| Gross profit | HK$9.33B | HK$3.68B | HK$33.5B | HK$79.2B | HK$120B |
| EBITDA | n/a | -HK$45.4B | -HK$10.7B | HK$63.4B | HK$98.1B |
| Net income | -HK$93.9B | -HK$96.0B | -HK$53.6B | HK$13.4B | HK$26.4B |
| Free cash flow | HK$4.71B | -HK$958M | HK$5.48B | HK$2.30B | -HK$1.91B |
| Capital expenditure | HK$1.61B | HK$3.47B | HK$4.90B | HK$9.21B | HK$14.9B |
| Total debt | HK$387B | HK$385B | HK$407B | HK$378B | HK$381B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| China Vanke 2202.HK | $5.28B | -30% | -35% | -62% | 0.24× | 5.5% |
| China Overseas 0688.HK | $18.4B | -13% | +4% | 3% | 0.32× | 5.4% |
| China Res Land 1109.HK | $29.1B | -7% | -12% | 8% | 0.68× | 7.9% |
| Longfor 0960.HK | $4.05B | -47% | -42% | 0% | 0.17× | 5.7% |
| Country Garden 2007.HK | $853M | -49% | -42% | n/a | n/a | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2202.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -20.8% | +4.2% | 3rd lowest of 21 |
| 6-month return | -30.1% | -6.5% | 2nd lowest of 21 |
| Return on equity | -62.4% | 6.6% | lowest of 21 |
| Price / book | 0.24× | 0.94× | cheapest of 21 |
| ROE the price implies | 5.5% | 8.0% | 5th least demanding of 21 |
| ROE delivered | -62.4% | 6.6% | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| China Vanke 2202.HK | Hong Kong | $5.28B | -30% | -35% | -62% | 0.24× | 5.5% | -62.4% |
| Tsim Sha Tsui Properties 0247.HK | Hong Kong | $5.24B | -20% | +15% | 3% | 0.43× | 4.0% | 2.7% |
| UOL U14.SI | Singapore | $5.23B | -23% | +2% | 4% | 0.55× | 4.9% | 4.5% |
| Nomura Real Estate 3231.T | Japan | $5.17B | -12% | +19% | 10% | 0.93× | 6.1% | 10.1% |
| City Developments C09.SI | Singapore | $5.13B | -11% | +36% | 9% | 0.69× | 6.0% | 9.0% |
| Tokyu Fudosan Holdings Corporat 3289.T | Japan | $5.69B | -7% | +6% | 11% | 0.98× | 8.3% | 10.6% |
| Shanghai Zhangjiang Hi-Tech Park Development 600895.SS | China | $5.71B | -33% | +89% | 6% | 2.78× | 28.6% | 6.4% |
| Godrej Properties GODREJPROP.NS | India | $5.77B | -4% | +17% | 7% | 2.82× | 59.3% | 7.2% |
| Shanghai Lujiazui Finance & Trade Zone Development 600663.SS | China | $4.81B | -10% | -21% | 6% | 1.44× | 9.8% | 5.8% |
| Castellum CAST.ST | Sweden | $5.94B | +10% | -3% | 4% | 0.91× | 8.3% | 4.2% |
| Howard Hughes HHH | United States | $4.64B | +18% | +32% | 7% | 1.17× | 12.0% | 6.8% |
| Hang Lung Ppt 0101.HK | Hong Kong | $4.40B | -29% | +10% | 1% | 0.25× | 4.7% | 1.2% |
| NEPI Rockcastle NRP.AS | Netherlands | $6.34B | +9% | +20% | 10% | 1.11× | 6.7% | 10.2% |
| LEG Immobilien LEG.DE | Germany | $4.39B | -11% | +1% | 16% | 0.44× | 5.6% | 15.7% |
| Meritage Homes MTH | United States | $4.38B | +4% | -15% | 6% | 0.87× | 10.3% | 5.8% |
| Tokyo Tatemono 8804.T | Japan | $4.37B | -6% | +17% | 11% | 1.13× | 8.3% | 10.7% |
| Fastighets AB Balder BALD-B.ST | Sweden | $6.43B | -2% | +4% | 7% | 0.65× | 7.6% | 7.2% |
| FirstService FSV.TO | Canada | $6.46B | +18% | +3% | 13% | 6.81× | 37.8% | 12.8% |
| Hangzhou Binjiang Real Estate 002244.SZ | China | $4.27B | -2% | -35% | 5% | 0.94× | 5.4% | 5.4% |
| Seazen 601155.SS | China | $4.23B | -15% | -39% | 1% | 0.45× | 5.5% | 1.1% |
| Shanghai Vital Deeptech 600641.SS | China | $4.20B | +14% | +94% | -2% | 3.46× | 43.2% | -1.7% |