万科再“借钱”

Core Viewpoint - Vanke A has been actively borrowing from its largest shareholder, Shenzhen Metro Group, to repay bond principal and interest, indicating a reliance on shareholder support for liquidity management [1][2]. Group 1: Borrowing Activities - On July 3, Vanke A announced a borrowing request of up to 6.249 billion yuan from Shenzhen Metro Group to repay bond principal and interest, with a borrowing term of no more than 3 years and an interest rate linked to the 1-year Loan Prime Rate (LPR) minus 66 basis points [1]. - Since February 10, Vanke A has borrowed nearly 12 billion yuan from Shenzhen Metro Group, with specific amounts of 2.8 billion yuan, 4.2 billion yuan, 3.3 billion yuan, and 1.552 billion yuan allocated for similar repayment purposes [2]. Group 2: Project Activation and Sales - Since the beginning of 2023, Vanke has revitalized 61 projects with a saleable value of approximately 73.3 billion yuan, contributing to new sales of 21.2 billion yuan over the past two years, with 11.1 billion yuan expected in 2024 [3]. - The company is leveraging government support policies to acquire existing land and properties through special bonds, with 15 projects already included in the municipal list for resource activation [3].