Xin Lang Cai Jing·2025-08-06 01:49Core Viewpoint - Vanke A has received a loan of up to 1.681 billion yuan from its largest shareholder, Shenzhen Metro Group, to repay bond principal and interest, reflecting strong support from the major shareholder [1][2]. Group 1: Loan Details - Shenzhen Metro Group has provided a total of 24.369 billion yuan in loans to Vanke this year, marking the eighth loan transaction [2]. - The loan interest rate is based on the one-year Loan Prime Rate (LPR) minus 66 basis points, currently at 2.34%, which is lower than the rates from financial institutions [1][2]. - The loan term is set for a maximum of three years, aimed at supporting Vanke's debt repayment [1]. Group 2: Financial Performance - Vanke successfully repaid approximately 16.49 billion yuan in public debt in the first half of the year and has no foreign public debt due before 2027 [2]. - The company reported a sales revenue of 69.1 billion yuan in the first half of the year, with over 45,000 units delivered and a collection rate exceeding 100% [2]. - However, Vanke anticipates a net loss of 10 to 12 billion yuan for the first half of 2025, primarily due to a decline in project settlement scale and low gross margins [2]. Group 3: Shareholder Support - Shenzhen Metro Group holds a 27.18% stake in Vanke, reinforcing its position as the largest shareholder [1]. - The recent loans are part of a series of financial arrangements made by Shenzhen Metro Group to support Vanke since the 2024 annual shareholder meeting [2].