Group 1 - The company has completed the redemption of the "22 Vanke 05" corporate bonds, with a total redemption amount of 2.9 billion yuan and interest payments made accordingly [4] - The bonds will be delisted on July 8, 2025, following the completion of the redemption process [4] - The company has exercised its redemption option and notified bondholders through multiple announcements on the Shenzhen Stock Exchange [3][4] Group 2 - The bond includes options for redemption, adjustment of coupon rates, and investor put options, providing flexibility for both the issuer and investors [2][3] - The issuer will announce whether to adjust the coupon rate or exercise the redemption option 20 trading days before the interest payment date of the third interest period [3] - Investors have the right to sell back the bonds at face value during the designated period if the issuer decides to adjust the coupon rate [3]

Core Viewpoint - Vanke A has completed the redemption of the 22 Vanke 05 corporate bonds, amounting to 2.9 billion yuan, with interest payments totaling 93.09 million yuan. The bonds will be delisted on July 8, 2025, and this redemption will not have a significant adverse impact on the company [1]. Summary by Relevant Sections - **Bond Redemption Details** - The company has successfully redeemed the 22 Vanke 05 corporate bonds [1] - The total redemption amount is 2.9 billion yuan [1] - Interest payments associated with the redemption amount to 93.09 million yuan [1] - **Future Implications** - The bonds are scheduled to be delisted on July 8, 2025 [1] - The redemption is stated to have no substantial negative impact on the company [1]

Group 1 - The company has decided to exercise the redemption option for the "22 Vanke 05" corporate bonds, redeeming all bonds registered on the redemption registration date [3] - The redemption registration date and interest payment date are set for July 7, 2025, with the redemption and delisting occurring on the same day [5] - The coupon rate for the bonds is 3.21%, with interest payments of RMB 32.10 per 10 bonds (including tax) [6] Group 2 - Investors who purchased the "22 Vanke 05" bonds on July 7, 2025, will receive the principal and interest from the redemption, while those who sold the bonds on the same day will not [4] - The company will announce whether to exercise the redemption option 20 trading days before the interest payment date of the third interest period [1] - The company will also announce whether to adjust the coupon rate for the last two years of the bond's term 20 trading days before the interest payment date [2]