Summary by Futu AI
China Vanke Corporation Limited (referred to as "Vanke") announced on July 2, 2024 that, to meet its operational needs, the company applied for a loan from Bank of Communications Co., Ltd. Shenzhen Branch and had its holding subsidiary provide equity pledge or asset mortgage as collateral. The total amount of the loan is RMB 5.736 billion, with a term of 15 years. In addition, the company also signed another loan with Bank of Communications, with a total amount of RMB 945 million and the same term of 15 years. Vanke obtained authorization at the 2023 shareholder meeting to provide guarantees for its holding subsidiaries within the range of no more than RMB 150 billion. As of June 30, 2024, Vanke's total external guarantees amounted to RMB 59.179 billion, accounting for...Show More