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source: securities daily

on september 24, vanke disclosed the progress of new guarantees and existing guarantees due to financing.

in terms of new secured financing, vanke applied for a loan of rmb 2.2 billion from icbc for a term of 3 years, and has completed the withdrawal. the current loan balance is rmb 1.237 billion. vanke's holding subsidiaries tianjin wanlan and tianjin jinyong have provided joint and several liability guarantees. in addition, vanke applied for a loan of rmb 1 billion from china merchants bank, and has completed the withdrawal. the current loan balance is rmb 340 million, with a term of 4 years. vanke's holding subsidiary yancheng vanke provided joint and several liability guarantees for the aforementioned loans.

in terms of the progress of existing guarantees, vanke previously applied for a loan of rmb 1 billion from icbc, and shenzhen wanzhong yuhong, a wholly-owned subsidiary of vanke, provided corresponding mortgage guarantees with its real estate assets. vanke has completed the withdrawal, and the current loan balance is rmb 390 million, with a total term of 5.5 years. according to the communication between vanke and icbc, in addition to the aforementioned mortgage guarantee, its holding subsidiary suzhou fujiang provided corresponding pledge guarantees with the income rights under the 70% equity of suzhou wanyu it holds.

after the latest guarantee occurs, vanke's total external guarantees will reach 100.836 billion yuan, accounting for 40.21% of the company's audited net assets attributable to shareholders of listed companies at the end of 2023.