Xin Lang Cai Jing·2025-09-19 01:21Core Viewpoint - Vanke has initiated its largest organizational restructuring in recent years, transitioning from a three-tier management system to a two-tier system, which includes 16 regional companies directly managed by headquarters [1][4][6]. Company Restructuring - The restructuring eliminates the original development and operation headquarters, moving from a "5+2+2" structure to 16 regional companies, thus breaking a nearly 20-year-old three-tier management system [1][4]. - The new structure consists of three main components: the group headquarters, regional companies, and business units, enhancing operational efficiency and responsiveness to market changes [4][6]. Management Team Changes - The restructuring is accompanied by a reshuffle of the core management team, with deep-rooted executives from the Shenzhen Metro Group maintaining key positions, ensuring strategic decision-making remains centralized [8][9]. - New appointments include Han Huihua as the financial head and Bu Lingqiu as the financial supervisor, establishing a dual-core financial management system [8]. Industry Context - Vanke's restructuring is part of a broader trend among leading real estate companies, with 14 out of 65 monitored firms making 19 adjustments this year, indicating a shift towards a two-tier management model [10][11]. - The adjustments reflect a transition from aggressive expansion to a focus on existing assets, aiming to improve cash flow management and investment decision-making [11].