万科海外二零二五年年度报告

2 3 5 22 31 44 50 51 52 54 55 56 109 111 112 Maples and Calder (Hong Kong) LLP P.O. Box 309, Ugland House Grand Cayman KY1-1104Cayman Islands 143A (852) 2309 8888(852) 2328 8097vkoverseas.ir@vanke.com http://www.vankeoverseas.com 183171712-1716 2202 •9 2602 20 ••JP MorganChase & Co.JPMElmore Capital LimitedWolver Hill Asset Management Asia LimitedCrowe (HK) CPA LimitedAIM CapitalConsortium Limited Deutsche Bank AktiengesellschaftJ.P. Morgan plc 92,300,00050,500,000 (i)(ii)(iii)(iv)596,700,000775,500,00023%(i)I(ii) 1,874,100,0001,954,600,00080,500,0009,900,00011(b) (i)1.25%(ii)1.8%166,800,000180,900,0008% 35,400,00045,200,00022%(i)(ii) 6370623,000623,00060%60% 93%94%8.79.388,800,00092,800,0004% 61,300,00050,200,00022% (i)TW6(ii) Mission(iii)I(iv)UNI Residence 20%Ultimate Vantage LimitedUltimate VantageUltimate Vantage101 20%Ultimate VantageTW6TW6TW6 Ultimate VantageTW6TW621,000,00028,500,0007,500,000 45%657–667 Mission Street Venture LLCMission StreetMission Street155,000Mission Mission Street46,000,00051,400,000Mission StreetMission II221-233I 158122848,600,000107 UNI Residence50%UNI Residence 240127674,600,000UNI Residence10,800,000200,000UNI Residence 93,200,000181,900,00049%(i)I(ii)I(iii)UNI Residence 83%87%92693846,900,00048,900,000 4,200,0007,400,00043%(i)(ii) 9,200,0007,600,000 11,300,00019,700,00010,600,00018,600,000700,0001,100,000 4,105,600,0004,221,300,00092,300,00023,400,000 18,200,00028,600,000 0.4%0.7% 686,400,000457,200,000 50%744,600,000744,600,000264,400,000314,800,00050%50% (i) • • • •(i)96%95%93%94%93%(ii)74%87%83% • • (ii) • • • •9.59.59.69.38.7 • • (iii) • •••811938926• • (iv) • • • •(i)25.1%27.9%27.0%27.2%28.4%(ii)103.0%74.2%80.7%(iii)66.9%80.6%70.8%74.4%78.3% •(i)(ii) • (v) • •••10.6%1.7%• • (vi) • •••+2•10.3%0.7%0.6%1.2%2.2%• • (i) (ii) (iii) (iv) (v) (vi) (a)75%(b)100% C1 (i) (ii) (iii) (iv) (v) (vi) (vii)(BEAM Plus)(LEED) (viii) 2025 III 16%15%4.73.7 8293104,500,000114,400,000 2026 I • • • • • • • • • • 0.200.06 109110 520 5051 0.2077,906,0000.0623,372,000 5422(a) 1,832,162,0001,892,297,000 19,000 116 116 XV352 (a) 1.389,527,932 (b) 1.A9,724,196,533H1,168,053,129 18XV352 XV336 1.Wkland Investments Company Limited292,145,949Wkland Investments Company LimitedWkland LimitedWkland Limited 2.CSI Capital Management Limited30,080,000 25%25% 3,480,0003,523,000 75% 8.10(2) (i)(ii) 13.22 Champion Estate (HK) LimitedChampion HKUNI Residence745,000,00014.07(1)8% Champion HKChampion HK 745 (a)2.11,000,00019,000,000 Champion HKChampion HK 13.22 13.22 13.51B (1) 13.51B(1) Vanke Overseas Management Holding Company LimitedVanke Overseas UK Management LimitedVOI UKVanke US Management LLCVOI USVOIVanke Holdings USA LLCVanke US VOI14A 300,000,000 166,800,000 Vanke Best Company LimitedVOI USVanke US (i)(ii)(iii) 300074014A.56(i)(ii)(iii)(iv) 33.4%28.0%30.0% 5% 18,200,00028,600,000 111 112 C1 C3 ••••••A.2.1 34 3.13 7 ••• 200,000 200,00010,0005,000 •••• E.1.2(c)(i) •• •••••••• 29%25% 3.08 ••3.08•••• 143A •••• 4449 ••••• •••••••••• (i)(ii) 43%57%42%58%30% 3.2915 XIVA 727210%2128 143Avkoverseas.ir@vanke.com(852) 2328 8097 72 143A 50110 2(e)11 1,874,000,00043% • • • 2(d)2(i)1415 • • • • • • • • • P07070 (92,393)(50,530) 56110 1 P.O. Box309, Ugland House, GrandCayman KY1-1104, Cayman Islands143A Wkland Investments Company LimitedWkland Investments Company LimitedHA 2 (a) (b) 2(e) 2 (b) (c) 2 (c) 2(d) 2(h)(ii) (d) 2(h) 2 (e) 2(g) 2(q)(i) (f) 555 2 (g) (i) 12 2(f)2(h)(ii)2(e) 2(h)(i)2(q)(v) 2 (g) (i) (ii) 2(q)(i) (h) (i) 12 2 (h) (ii) (iii) 342(h)(i)(ii) 2 (i) 2(s) 2 (j) 2(q)2(k) 2(q)(v) (k) 2(h)(i) (l) (m) 2(h)(i) (n) 2 (o) 2 (o) 2(f) (p) (q) 2 (q) (i) (ii) (iii) (iv) (v) (r) 2 (s) (t) (a) (i)(ii)(iii) (b) (i)(ii)(iii)(iv)(v)(vi)(a)(vii)(a)(i)(viii) 2 (u) 3 (a) 51,878,000255,358,000 3 (b) 10% 3 (b) (92,393) 3 (b) 3 (b) (i)(ii) 5 (a) 5%30,000 5 (d) 1,0601,15322523811(a)34,18435,2709275(114)(305)25,236,00025,039,000(63,521)(67,767) 6 (a) 6 16.5%16.5% 28.25%16.5% 16,000301,000 (b) 7 383(1)2 8 9 (a) 0.20 (b) 0.060.06 10 92,393,00050,530,000389,527,932389,527,932 11 11 (a) 11 (a) (i) 13 11 (b) 11(a) 11 (c) 1515 34.8 (e)50 (a)1616(b)(c)109110 13 13 (a)20,278,00027,794,0002.1658,000810,00019,620,00026,984,000 (b)Ultimate Vantage LimitedUVL2,034,0001,434,000 13 13 (a)Champion Estate (HK) Limited353,381,000296,381,000296,133,0003248,000 (b)Champion Estate (HK) Limited372,275,000372,275,000Champion Estate (HK) Limited 14 Champion 15 221-2331050 159023(a) (b)2,004,00024,894,00026,751,00015,058,00014,927,00039,952,0003013,828,00090 17 5%15% 18 (a) 18 (b) 20 28,578 18 (c) (b)23,712,000 (c)10,871,00011,603,000 20 21 11,514,00011,854,000 22 (a) 22 (b) (c)