Chinese Property Developer Vanke Records $6.8 Billion Loss in 2024 as Sales Decline. Vanke, one of China’s leading property developers, reported a staggering $6.8 billion loss in 2024, citing plummeting sales and shrinking profit margins as the primary reasons. The company pointed to overexpansion and high-debt practices as contributing factors to this significant financial setback. With a 26% drop in revenue, Vanke’s financial woes were exacerbated by the resignations of top executives, further shaking up the company. This loss comes amidst a broader real estate crisis in China, with other major developers such as Kaisa and Country Garden also experiencing substantial financial losses. The challenges faced by Vanke and its counterparts reflect the turbulent times in the Chinese real estate market, highlighting the need for strategic restructuring and financial stability in the industry.