Vanke reports $6.8 billion annual loss amid struggling Chinese property market
[ad_1] Hong Kong-listed property giant Vanke reported a significant annual loss of 49.5 billion yuan ($6.8 billion) on Monday, attributing the sharp decline to falling sales and shrinking profit margins despite efforts by Beijing to revive the struggling housing market. The company stated that 2024 had been an “exceptionally challenging year,” apologizing for the “distress…