Vanke (02202.HK) (000002.SZ) announced that in order to meet operational needs, it has applied for a bank loan from Bank of Communications (3328.HK) Shenzhen Branch and completed the withdrawal of 1.5 billion yuan RMB (same below). The loan has a term of ten years, and Vanke's wholly-owned subsidiary, Shenzhen Vanke Development, plans to pledge the 100% equity of Shenzhen Senmao Zhidi held by the company as collateral for the loan.

As of the end of May, Vanke's guarantee balance was 44.685 billion yuan, accounting for 17.82% of the company's audited attributable net assets to shareholders of the listed company at the end of last year. Among them, Vanke and its holding subsidiaries provided a guarantee balance of 44.503 billion yuan to other holding subsidiaries, and Vanke and its holding subsidiaries provided a guarantee balance of 182 million yuan to joint ventures and partnerships.

Vanke has previously obtained guarantee loans from multiple banks, including a loan of 690 million yuan applied by Vanke to Bank of China (03988.HK) Shenzhen Branch for a three-year period, and three loans totaling 2.2 billion yuan applied by Vanke to Agricultural Bank of China (01288.HK) Shenzhen Branch, with a term of three years for all of them.