Summary by Futu AI
On June 14, 2024, China Vanke announced that in order to meet operational needs, the company has applied for a total of 4.1 billion yuan (RMB) in loans from the Shenzhen Branch of China Postal Savings Bank Co., Ltd. The loan is secured by mortgages provided by the company's holding subsidiaries, Xuzhou Wanzhe Real Estate Co., Ltd. and Xi'an Wangaohua Real Estate Development Co., Ltd. According to the authorization of the company's 2023 shareholders meeting, the total amount of new guarantees provided by the company and its holding subsidiaries to external parties shall not exceed RMB 150 billion and shall be valid until the 2024 shareholders meeting. The guarantee has been approved by the company's CEO within the authorized scope. As of...Show More