Group 1 - The company has completed the redemption of the "22 Vanke 05" corporate bonds, with a total redemption amount of 2.9 billion yuan and interest payments made accordingly [4] - The bonds will be delisted on July 8, 2025, following the completion of the redemption process [4] - The company has exercised its redemption option and notified bondholders through multiple announcements on the Shenzhen Stock Exchange [3][4] Group 2 - The bond includes options for redemption, adjustment of coupon rates, and investor put options, providing flexibility for both the issuer and investors [2][3] - The issuer will announce whether to adjust the coupon rate or exercise the redemption option 20 trading days before the interest payment date of the third interest period [3] - Investors have the right to sell back the bonds at face value during the designated period if the issuer decides to adjust the coupon rate [3]

Core Points - Vanke Enterprise Co., Ltd. will pay interest on its publicly issued corporate bonds (Phase III, Type II) on July 8, 2025, for the period from July 8, 2024, to July 7, 2025 [2][4] - The bond has a nominal interest rate of 3.70%, with interest payments of RMB 37.00 for every 10 bonds with a face value of RMB 1,000, before tax [4][5] - Investors have the option to sell back the bonds at face value during the fifth interest period, with the buyback payment date coinciding with the interest payment date [3][4] Bond Details - The bond is identified as "22 Vanke 06" with a code of 149976, and the record date for bondholders is July 7, 2025 [2][4] - The bond will be managed by China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, which will handle the interest payment process [5] - Tax on interest income for individual bondholders is set at 20%, with withholding managed by the payment outlets [6] Additional Information - The company will announce any adjustments to the nominal interest rate 20 trading days before the fifth interest payment date [2][3] - Foreign institutional investors are exempt from corporate income tax and value-added tax on bond interest income until December 31, 2025 [6] - Contact information for inquiries includes addresses and phone numbers for relevant personnel at Vanke [6]

Core Viewpoint - Vanke A has completed the redemption of the 22 Vanke 05 corporate bonds, amounting to 2.9 billion yuan, with interest payments totaling 93.09 million yuan. The bonds will be delisted on July 8, 2025, and this redemption will not have a significant adverse impact on the company [1]. Summary by Relevant Sections - **Bond Redemption Details** - The company has successfully redeemed the 22 Vanke 05 corporate bonds [1] - The total redemption amount is 2.9 billion yuan [1] - Interest payments associated with the redemption amount to 93.09 million yuan [1] - **Future Implications** - The bonds are scheduled to be delisted on July 8, 2025 [1] - The redemption is stated to have no substantial negative impact on the company [1]

万科企业股份有限公司 关于担保进展情况的公告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：<万>2025-103 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 为满足经营需要，万科企业股份有限公司（以下简称"公司"或"万科"） 之控股子公司前期向银行申请贷款，公司之控股子公司继续通过信用保证、股权 质押、资产抵押分别为相应的贷款提供担保。 公司 2024 年度股东大会审议通过了《关于提请股东大会授权公司及控股子 公司对外提供担保的议案》，同意在授权有效期内提供的新增担保总额须不超过 人民币 1,500 亿元，有效期为自 2024 年度股东大会决议之日起至 2025 年度股东 大会决议之日止。董事会在取得股东大会授权之同时，已进一步转授权公司指定 高管人员对于单笔对外担保金额低于人民币 50 亿元进行审批，并签署相关法律 文件。 本次担保事项在上述担保额度范围内，被转授权人员已在上述授权范围内决 策同意本次担保事项，具体情况如下： 一、已有担保事项（一）进展 （一）担保事项概述 2022 年，公司之控股子公司 Lotus Re ...

万科企业股份有限公司 关于按照《香港上市规则》公布 2025 年 6 月证券变动月报表的公告 证券代码：000002、299903 证券简称：万科 A、万科 H 代 公告编号：〈万〉2025-102 二〇二五年七月四日 1 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、误导性 陈述或者重大遗漏。 根据《香港联合交易所有限公司证券上市规则》（简称"《香港上市规则》"） 13.25B 条关于披露股份发行人的证券变动月报表的要求，及《深圳证券交易所股 票上市规则》11.2.1 条关于境内外同步披露的要求，特披露万科企业股份有限公 司在香港联合交易所有限公司披露易网站（www.hkexnews.hk）刊登的《万科企 业股份有限公司截至 2025 年 6 月 30 日的月报表》，供参阅。 特此公告。 万科企业股份有限公司 董事会 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年6月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 萬科企業股份有限公司 呈交日期: 2025年7月4日 I. 法定/註冊股本變動 | 1. 股份分類 | ...

万科A：公司及控股子公司担保余额为798.71亿元 金十数据7月4日讯，万科A公告，公司之控股子公司通过信用保证、股权质押、资产抵押等方式为相应 贷款提供担保。本次担保事项在公司2024年度股东大会授权范围内，被转授权人员已在授权范围内决策 同意本次担保。公司及控股子公司担保余额为798.71亿元，占公司2024年末净资产的39.41%。本次担保 发生后，公司及控股子公司对外担保总额将为809.24亿元。 ...

万科企业股份有限公司 2022 年面向专业投资者公开发行 公司债券（第三期）（品种二）2025 年付息公告 证券代码： 证券简称： 000002、299903、149976 万科 A、万科 H 代、22 万科 06 公告编号：〈万〉2025-100 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 重要提示： 债券简称：22 万科 06 债券代码：149976 债权登记日：2025 年 7 月 7 日 付息日：2025 年 7 月 8 日 计息期间：2024 年 7 月 8 日至 2025 年 7 月 7 日 万科企业股份有限公司 2022 年面向专业投资者公开发行公司债券（第三期） （品种二）将于 2025 年 7 月 8 日支付自 2024 年 7 月 8 日至 2025 年 7 月 7 日期 间的利息。为保证付息工作的顺利进行，现将有关事项公告如下： 一、本期债券的基本情况 1．发行人：万科企业股份有限公司（以下简称"发行人"或"本公司"）。 2．债券名称：万科企业股份有限公司 2022 年面向专业投资者公开发行公司 债券（第三期）（品种二）（以下简称"本期债 ...

万科企业股份有限公司 关于"22 万科 05"公司债券付息、赎回结果暨摘牌公告 证券代码：000002、299903、149975 证券简称：万科 A、万科 H 代、22 万科 05 公告编号：〈万〉2025-101 本公司及董事会全体成员保证公告内容的真实、准确和完整，对公告的虚假记载、 误导性陈述或者重大遗漏负连带责任。 重要提示： 1．债券代码：149975。 2．债券简称：22万科05。 3．赎回登记日：2025年7月7日。 4．赎回资金到账日：2025年7月8日。 5．赎回价格：人民币103.21元/张（含当期利息，且当期利息含 税）。 6．债券赎回比例：100%。 7．摘牌日: 2025年7月8日。 一、"22万科05"公司债券的基本情况 1．发行主体：万科企业股份有限公司。 2．债券名称：万科企业股份有限公司 2022 年面向专业投资者公 开发行公司债券（第三期）（品种一）。 3．债券简称：22 万科 05。 4．债券代码：149975。 1 5．债券余额：29 亿元。 6．债券期限：本期债券期限为 5 年期，附第 3 年末发行人赎回 选择权、调整票面利率选择权、投资者回售选择权。 7．当前票面 ...

Core Viewpoint - Vanke A's major shareholder, Shenzhen Metro Group, is providing a loan of up to 6.249 billion yuan and extending an existing loan of 890 million yuan, indicating a systematic support mechanism for the company amid financial challenges [1][3]. Group 1: Loan Details - The new loan of up to 6.249 billion yuan is intended for repaying public market bond principal and interest, with a term of 3 years and an interest rate of 2.34%, significantly lower than the average financing cost for real estate companies [2]. - The existing loan of 890 million yuan has been extended to the end of 2025, and an additional 1.551 billion yuan loan requires a 70% equity pledge of Wanwu Cloud Space Technology [2]. Group 2: Support Model Analysis - The cumulative support from Shenzhen Metro Group for Vanke in 2025 exceeds 21.8 billion yuan, marking a shift from emergency assistance to a systematic rescue approach [3]. - All loans are specifically allocated for repaying public market bonds, addressing imminent debt repayment peaks [3]. Group 3: Financial Risk Assessment - The pledged shares of Wanwu Cloud are valued at 10.2 billion yuan, which is 45% of its market value, indicating vulnerability if the stock price declines significantly [4]. - The trend of short-term debt is highlighted, with approximately 30% of Vanke's domestic bonds due within one year, creating a mismatch with the 3-year loan term [4]. Group 4: Market Signals and Implications - The ongoing financial support from Shenzhen Metro Group signals confidence in Vanke's stability, alleviating immediate liquidity concerns [6]. - However, the reliance on borrowing to repay existing debts rather than for project development raises concerns about Vanke's sales recovery and operational viability [6]. Group 5: Conclusion and Future Considerations - The loan from Shenzhen Metro Group is part of a broader strategy to address Vanke's liquidity issues, but several critical points need attention, including the nearing pledge ceiling of Wanwu Cloud shares and the necessity for sales recovery in the latter half of 2025 [7].

Group 1 - The total sales amount of the top 100 real estate companies in the first half of 2025 was 1,836.41 billion yuan, a year-on-year decrease of 11.8%, with the decline rate expanding by 1 percentage point compared to the first five months of the year [1] - In June alone, the sales amount of the top 100 real estate companies decreased by 18.5% year-on-year, with the decline rate increasing by 1.2 percentage points compared to May [1] - The top three companies by total sales were Poly Developments, Greentown China, and China Overseas Property, with sales amounts of 145.2 billion yuan, 122.1 billion yuan, and 120.14 billion yuan respectively [1][2] Group 2 - The contribution rate of sales from first-tier cities increased significantly, with 40.0% of sales coming from these cities, a year-on-year increase of 9.0 percentage points [3] - The top three cities contributing to sales in the first half of 2025 were Shanghai, Beijing, and Guangzhou, with contribution rates of 16.9%, 10.6%, and 9.0% respectively [4] - Shanghai's sales contribution rate increased by 4.5 percentage points compared to the same period in 2024, marking the largest increase among the top 10 cities [4] Group 3 - The total land acquisition amount for the top 100 companies in the first half of 2025 was 506.55 billion yuan, a year-on-year increase of 33.3% [5] - The top three companies by new land value added were Poly Developments, Greentown China, and China Jinmao, with new land values of 89.9 billion yuan, 83.1 billion yuan, and 74.9 billion yuan respectively [5] - The average premium rate for land sales in 300 cities exceeded 10%, showing a significant increase compared to the same period last year [6] Group 4 - The main players in land acquisition were state-owned enterprises, with eight out of the top ten land acquirers being state-owned [5][7] - Core cities such as Beijing, Shanghai, and Chengdu saw intense competition for quality land, while many third and fourth-tier cities continued to see land sold at base prices [6] - The Yangtze River Delta region led the four major city clusters in land acquisition, with the top ten companies in this region acquiring land worth 147 billion yuan [6]