Summary by Futu AI
China Vanke Corporation Limited (referred to as 'Vanke') announced on June 24, 2024 that, in order to meet operational needs, the company has applied to and drawn a loan of 1.5 billion yuan from Bank of Communications Co., Ltd. Shenzhen Branch with a term of 10 years. The loan is secured by equity pledge provided by the wholly-owned subsidiary of the company, Shenzhen Vanke Development Co., Ltd., involving 100% equity interest of Shenzhen Senmao Zhi Di Co., Ltd. This guarantee item is within the authorized guarantee limit approved at the company's 2023 Annual General Meeting of Shareholders and the President of the company has agreed to this guarantee in accordance with the authorized decision. As of May 31, 2024, the total amount of external guarantees provided...Show More