Today, Vanke held the 2023 results promotion conference. At the meeting, Yu Liang, chairman of Vanke's board of directors, said that Vanke's financial problems are essentially business issues. Although Vanke proposed “staying alive” a long time ago, it now seems that the sense of crisis needs to be strengthened, that Vanke's determination and intensity to change will be greater, and that safety pads will be thicker. Based on this consideration, Vanke proposed a firm target of reducing leverage for this year and next two years. Yu Liang said that in the next two years, Vanke will reduce interest payment debt by more than 100 billion yuan, firmly reduce debt, and consider development on a safer basis. No dividends will also create conditions for this very important work. We believe that with its current capabilities, the company can create service value for a better and longer period of time after entering the market in a lightweight package.