业内人士：万科两次祭出“缓兵之计”，其意图或在于“时间换空间”

Core Viewpoint - Vanke's recent attempts to extend its debt instruments have been unsuccessful, raising concerns about its ability to convince creditors despite having substantial assets [1] Group 1: Debt Extension Attempts - On December 22, Vanke's 2 billion yuan medium-term note extension was rejected by creditors [1] - On December 26, another extension proposal for 3.7 billion yuan ("22 Vanke MTN005") also failed to gain creditor approval [1] Group 2: Underlying Issues - The core issue lies in Vanke's extensive cooperative development model, which complicates its financial situation [1] - Creditors indicated that Vanke's explanation during meetings highlighted that a significant portion of its consolidated assets cannot be directly used to enhance the creditworthiness of the group's headquarters debt [1] Group 3: Strategic Intentions - Industry analysts believe Vanke's repeated attempts to delay debt obligations may be a strategy to "buy time" [1] - The company is likely aiming to accelerate asset sales to improve cash flow and create opportunities for debt restructuring negotiations with creditors [1]