China Vanke Co., Ltd. released an overseas regulatory announcement on June 28, 2024, detailing changes to the company's board of directors and a report on entrusted management of corporate bonds (in fiscal 2023). The report noted that China Vanke faced pressure from the real estate market in fiscal 2023, with revenue of CNY 465.74 billion, a year-on-year decrease of 7.6%, and a net income attributable to shareholders of the listed company of CNY 12.16 billion, a year-on-year decrease of 46.4%. The company paid the principal and interest of the outstanding bonds on time and in full during the reporting period, and its debt repayment willingness remained normal. CITIC Securities Co., Ltd., the entrusted manager, has continuously monitored China Vanke's credit status, debt...Show More

China Vanke Co., Ltd. released an overseas regulatory announcement on June 28, 2024, detailing changes to the company's board of directors and a report on entrusted management of corporate bonds (in fiscal 2023). The report noted that China Vanke faced pressure from the real estate market in fiscal 2023, with revenue of CNY 465.74 billion, a year-on-year decrease of 7.6%, and a net income attributable to shareholders of the listed company of CNY 12.16 billion, a year-on-year decrease of 46.4%. The company paid the principal and interest of the outstanding bonds on time and in full during the reporting period, and its debt repayment willingness remained normal. CITIC Securities Co., Ltd., the entrusted manager, has continuously monitored China Vanke's credit status, debt repayment ability, use of raised funds, payment of corporate bond principal and interest, and implementation of debt repayment guarantee measures, as well as urged China Vanke to fulfill its obligations. China Vanke has promised to strictly use the funds raised from this bond issuance in accordance with the purpose stipulated in the prospectus and has not found any violation of the commitment to use raised funds.