China Vanke Co., Ltd. (referred to as "Vanke") announced on July 19, 2024, that in order to meet the operational needs of the company and its holding subsidiaries, it has applied for and obtained loans from banks and provided guarantees for the relevant loans through equity pledge, asset mortgage, and guarantee. According to the authorization of the company's 2023 shareholders' meeting, the new total guarantee amount does not exceed RMB 150 billion. The CEO of the company has agreed to the guarantee matters based on the authorized decision-making. Among them, Guangdong Xinghua Industrial Co., Ltd. obtained a loan of 1 billion yuan from Bank of Communications for a term of 15 years. It was guaranteed by equity pledge provided by Zhuhai Wan Houda Mei...Show More

China Vanke Co., Ltd. (referred to as "Vanke") announced on July 19, 2024, that in order to meet the operational needs of the company and its holding subsidiaries, it has applied for and obtained loans from banks and provided guarantees for the relevant loans through equity pledge, asset mortgage, and guarantee. According to the authorization of the company's 2023 shareholders' meeting, the new total guarantee amount does not exceed RMB 150 billion. The CEO of the company has agreed to the guarantee matters based on the authorized decision-making. Among them, Guangdong Xinghua Industrial Co., Ltd. obtained a loan of 1 billion yuan from Bank of Communications for a term of 15 years. It was guaranteed by equity pledge provided by Zhuhai Wan Houda Mei Enterprise Management Co., Ltd. and joint and several liability guarantee provided by Vanke. In addition, Vanke applied to Bank of China for and completed a loan withdrawal of 2.79 billion yuan, for a term of 7 years, secured by mortgage provided by six holding subsidiaries of the Times Series. As of June 30, 2024, Vanke's total external guarantee amount was 80.677 billion yuan, accounting for 32.17% of the company's audited attributable net assets to shareholders of the listed company at the end of 2023. Vanke stated that this guarantee will help meet the company's business development needs, the risk is controllable, and there is no situation that harms the interests of the company and shareholders.