Onewo Cuts Vanke-Related Receivables to RMB1.774 Billion, Down 31.82% Year on Year
Onewo Inc. reduced receivables and notes from Vanke Group to approximately RMB1.774 billion as of the end of June 2026, down 31.82% year on year and 14.05% from end-2025. The company has continued to shrink related-party exposure amid Vanke's liquidity troubles by collecting payments and raising bad-debt provisions. Management said the net value of developer-related receivables fell about 50% year on year, further lowering their share of total receivables. Figures were disclosed at the mid-year results meeting on August 14.
As of the end of June 2026, Onewo's receivables and notes due from Vanke Group stood at approximately RMB1.774 billion, down about 31.82% year on year and 14.05% from the end of 2025. Since the affiliated developer's operating conditions deteriorated, Onewo has continuously reduced the scale of related-party receivables and narrowed its risk exposure. Through collection of payments and appropriate provisioning for bad debts, the net value of developer-related receivables fell roughly 50% year on year by mid-year. Net receivables refer to the book balance less accumulated bad-debt provisions.
Management disclosed the above figures at the mid-year results meeting held on August 14. Over the previous two years, Onewo had steadily increased bad-debt provisions to address the impact of Vanke Group's liquidity problems. Following this reduction, the size of related-party receivables and their share of the company's total receivables have declined further.