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on the evening of september 4, vanke issued an announcement disclosing relevant information regarding its controlling subsidiary's guarantee for bank loan matters.

the announcement shows that the specific guarantee items include two loans. the first loan was provided by ping an bank co., ltd. shenzhen branch, with a principal of 3.5 billion yuan, a current loan balance of 2.946 billion yuan, and a term of 3 years. vanke's holding subsidiaries provided pledges, mortgages and guarantees for the relevant loans. in addition, some holding subsidiaries, as co-borrowers, will bear repayment obligations together with vanke.

the second loan was provided by a consortium led by the shenzhen branch of bank of communications co., ltd., with a principal of rmb 7.98 billion and a current loan balance of rmb 1.6 billion. the term is 5 years and the guarantee is a pledge. shenzhen vanke mangrove bay real estate development co., ltd., a subsidiary of vanke holdings, provided the corresponding pledge guarantee with its 100% equity interest in shenzhen vanke nanyuan real estate development co., ltd.

after this guarantee occurs, vanke's total external guarantees will be 101.228 billion yuan, accounting for 40.36% of the company's audited net assets attributable to shareholders of listed companies at the end of 2023.

since the beginning of this year, under the "slimming and strengthening" package plan, vanke has accelerated the cleanup and transfer of non-core financial investments, and has gradually transferred commercial and office assets through bulk transactions and reits, continuously recovering funds for the company to enhance market confidence in the company.

on august 21, vanke issued an announcement stating that its two wholly-owned subsidiaries, beijing vanke enterprise co., ltd. and beijing vanke huitong real estate co., ltd., will transfer their equity and debt claims in beijing wanjin real estate development co., ltd. to jiaxing dongfu zhengqi investment partnership (limited partnership) for a consideration of 2 billion yuan.

data shows that as of june 30, 2024, vanke's total assets were 1,422.819 billion yuan, total liabilities were 1,037.762 billion yuan, and net assets were 385.057 billion yuan. in addition, in the first half of 2024, vanke's operating income was 142.78 billion yuan, a year-on-year decrease of 28.9%; the net profit attributable to shareholders of the listed company was a loss of 9.85 billion yuan. the main reasons for the performance loss include the decline in the settlement scale and gross profit margin of the development business, the provision of impairment, and the loss of some non-core financial investments.

however, it is worth mentioning that vanke has made every effort to collect sales proceeds, achieving a collection rate of over 100%. the net operating cash flow in the second quarter has improved significantly compared with the first quarter, achieving a positive cash flow of 4.2 billion yuan, and there is no overseas public debt this year. in addition, vanke has achieved breakthroughs in multiple reits, commercial reits have been listed, and logistics and rental residential reits have also entered the application process; the capabilities of the three main businesses continue to improve, and the sales of comprehensive residential business remain in the first echelon of the industry, with 74,000 houses delivered with high quality.