Shang Hai Zheng Quan Bao·2025-11-26 15:53Core Points - Vanke is planning to negotiate with bondholders regarding the extension of its 2022 fourth phase medium-term notes (referred to as "22 Vanke MTN004") due to cash flow pressures [1] - The bond has an outstanding balance of 2 billion yuan, with an interest rate of 3%, and the principal repayment date is set for December 15, 2025 [1] - A bondholder meeting is scheduled for December 10, 2025, to discuss the extension and other related matters, which will be decided by a vote from the bondholders [1] Summary by Sections - Bond Details - The outstanding balance of the bond is 2 billion yuan - The interest rate for the current interest period is 3% - The principal repayment date is December 15, 2025 [1] - Meeting Information - The bondholder meeting will be convened by Shanghai Pudong Development Bank - The meeting will follow the regulations of the interbank bond market for non-financial corporate debt financing tools [1] - Cash Flow Situation - Vanke is facing cash flow pressure due to industry funding conditions - The company aims to avoid default by negotiating a repayment plan with bondholders [1]