Group 1 - The core point of the article is that Vanke has proposed a new extension plan for its maturing medium-term notes (MTN) worth 2 billion, which includes changes in interest payment and credit enhancement commitments, as well as a new proposal to extend the grace period [2][3] - The extension plan proposes to postpone the principal repayment by 12 months, with the new repayment date set for December 15, 2026, at which point the full principal of the MTN will be repaid [2] - The interest payment plan includes a provision to pay the 60 million due interest by December 22, 2025, within the grace period, with unpaid principal accruing interest at a rate of 3.00% during the grace period [2][3] Group 2 - The new proposal also includes an extension of the grace period for principal and interest repayment from the original 5 working days to 30 trading days, with the grace period ending on January 28, 2026 [3] - If the principal and interest are fully paid during the grace period, it will not constitute a default by the issuer, and no penalties or overdue interest will accrue [3] - Vanke's other medium-term note, MTN005, with a balance of 3.7 billion and a coupon rate of 3%, will have its extension meeting on December 22 [4]