​万科：郁亮辞职！

Group 1 - Vanke's personnel changes have attracted market attention, with Yu Liang announcing his retirement effective January 8, 2026, and will no longer hold any position in the company after resigning as a director and executive vice president [1] - Yu Liang joined Vanke in 1990 and became general manager of Shenzhen Vanke Financial Consulting Co., Ltd. in 1993, later taking over as general manager (president) in 2001, marking the full implementation of the professional manager system at Vanke [1] - On January 27 of the previous year, Yu Liang had already applied to resign from the position of chairman of the board while continuing as a director and executive vice president [1] Group 2 - Vanke's two medium-term note creditor meetings are scheduled for January 21, just a week before the grace period ends on January 28, to discuss bond extension matters [2] - If Vanke can reach an agreement with creditors or pay the principal and interest during the grace period, the bonds may avoid default risk [2] - Vanke's stock price rose nearly 3.5% on January 8, with reports indicating that the company has reached an agreement with domestic lenders, including China Bank, to adjust quarterly interest payments to annual payments, with some interest payments deferred until September 2026 [2] - For Q3 2025, Vanke reported revenue of 56.065 billion yuan, a year-on-year decline of 27.3%, and a net loss of 16.069 billion yuan, attributed to reduced settlement scale in development business, low gross margins, and asset disposals below book value [2] - The significant decline in the area of real estate development settlements has further weakened cash flow generation capabilities [2]