Summary by Futu AI
China Vanke Co., Ltd. (referred to as "Vanke") announced on June 3, 2024, that in order to meet operational needs, it has applied to and completed a bank loan of RMB 1.1 billion from the Shenzhen branch of Bank of Communications, with a term of 4 years. The loan is secured by mortgage with land held by the company's holding subsidiary Chongqing Bocui Real Estate Co., Ltd. In addition, at the 2023 shareholders' meeting held on April 30, 2024, Vanke was authorized to provide new guarantees of no more than RMB 150 billion to its holding subsidiaries within the validity period. The President of the Company agreed to this guarantee within the authorized scope. As of May 31, 2024, the actual guarantee balance incurred by Vanke was RMB 44.685 billion...Show More