Group 1 - Guangdong Province has issued a guideline prohibiting the registration of "small property houses" and other illegal constructions, effective from August 4, 2025, which aims to promote the purchase of legitimate properties and regulate the real estate market [1] - Shandong Binzhou is collecting existing commercial housing to convert into affordable housing, which is expected to optimize the supply-demand structure in the real estate market and help companies reduce inventory [2] - Vanke has pledged 117 million shares of its subsidiary, Wanwu Cloud, to Shenzhen Metro Group as collateral for a loan, reflecting the company's strategy to stabilize its cash flow amid current market conditions [3] Group 2 - Times China has disclosed a debt restructuring plan involving approximately $2.9 billion, with over 85.67% of creditors agreeing to the plan, which could alleviate financial pressure and serve as a model for other distressed real estate companies [4] - The CEO of Zhuhai Wanda Commercial Management, Xiao Guangrui, has resigned, and the company has appointed new leadership, indicating a potential shift in strategic direction following recent management changes [5]