3 6 Ke·2025-11-27 03:57Core Viewpoint - Vanke is seeking to extend the maturity of its 2 billion yuan bond, MTN004, which is due for repayment on December 15, 2025, amid ongoing challenges in the bond market and declining stock prices [1][2]. Group 1: Bond Repayment and Meetings - Vanke has completed the repayment of 28.89 billion yuan in public debt as of the end of the third quarter, with no foreign public debt maturing before 2027 [2]. - A meeting for bondholders regarding the extension of the MTN004 bond will be held on December 10, 2025, organized by Shanghai Pudong Development Bank [1]. - The remaining balance of the MTN004 bond is 2 billion yuan, with an interest rate of 3% [1]. Group 2: Market Performance - Vanke has two domestic bonds maturing this year, including MTN004 and another bond, MTN005, which is due on December 28, with a total repayment obligation of approximately 58.71 billion yuan [2]. - Recent market performance shows a decline in several of Vanke's domestic bonds, with some dropping over 20%, triggering trading halts [2]. - Vanke's stock price has also fallen, closing at 5.89 yuan per share on November 26, marking a 10-year low and a market capitalization of only 70.27 billion yuan [2].