Core Viewpoint - Vanke has successfully sold all of its A-share treasury stocks within three working days, indicating a strategic move to address cash flow pressures and maintain shareholder value [1][2]. Group 1: Stock Sale Details - Vanke announced the completion of the sale of 72,955,992 A-share treasury stocks, which represents 0.61% of the company's total share capital, with total proceeds amounting to 479 million yuan (before transaction fees) [1][2]. - The sale occurred between June 10 and June 12, 2025, with a highest transaction price of 6.72 yuan per share, a lowest price of 6.48 yuan per share, and an average price of 6.57 yuan per share [1]. - The average daily trading volume of Vanke's A-shares in the twenty trading days prior to the sale announcement was 12,626,750 shares, and the maximum number of shares sold on June 11 was 30,100,000, which is less than 25% of the average daily volume [1]. Group 2: Background and Rationale - The treasury stocks were originally repurchased in 2022 to maintain company value and protect shareholder interests, with the repurchase completed by June 30, 2022 [2]. - The decision to sell the treasury stocks was made on April 29, 2025, as part of a plan to recover cash flow, with the sale period set from May 27, 2025, to July 2, 2025 [2]. - Analysts suggest that Vanke is facing significant cash flow pressures, prompting the decision to liquidate part of its stock holdings [2]. Group 3: Financial Support and Pressure - Vanke has received multiple loans from its largest shareholder, Shenzhen Metro Group, totaling up to 30 billion yuan, indicating ongoing financial and operational pressures [3]. - The loans provided by Shenzhen Metro Group throughout the year include amounts of 28 billion yuan, 42 billion yuan, 33 billion yuan, and 15.52 billion yuan, reflecting a pattern of financial support [3].