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China Vanke Co., Ltd. (2202.HK)

5.240

-0.090

(-1.69%)

At close: 4:08:05 PM GMT+8

China Vanke's Hong Kong unit sees strong sales in Tai Po project despite mortgage concerns

China Vanke has sold nearly three quarters of the more than 200 units on offer at its Le Mont project on the first day of sales, despite earlier reports indicating that some Hong Kong banks were refusing to extend mortgages to prospective buyers. By 5pm on Saturday, 162 of the 228 available flats at the new Tai Po residential project developed by Vanke Hong Kong, wholly owned by China Vanke, had been sold, said Sammy Po Siu-ming, CEO of Midland Realty's residential division. The flats - ranging

South China Morning Post last month

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Some Hong Kong banks refuse mortgages for China Vanke's Le Mont project in Tai Po

Some banks in Hong Kong are not extending mortgages for China Vanke's Le Mont project due to be launched in Tai Po, another setback for the embattled mainland Chinese developer battling a liquidity crisis. Standard Chartered, one of the city's three currency-issuing banks, and Chong Hing Bank were not accepting mortgage requests from potential homebuyers at Le Mont, according to property agents. Standard Chartered declined to comment. Chong Hing Bank said in a statement that it mainly considers

South China Morning Post last month

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Struggling Chinese builder Vanke turns to state managers to ‘stop the decline’

A team of executives from one of China’s biggest public transport operators has a new mission: propping up the latest vulnerable developer in...

PREMIUM
Financial Times 2 months ago

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China Stocks Rise Despite Tariffs and Property Woes. Will It Last?

The iShares China Large-Cap ETF is up 11.4% and Alibaba Group, a proxy for Chinese stocks for U.S. investors, is up 43%.

Barrons.com 2 months ago

BABA

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China Vanke gets $383 million loan from state shareholder

Cash-strapped China Vanke said its major shareholder, state-owned Shenzhen Metro, is giving it a 2.8 billion yuan ($383.12 million) loan, in a sign the government is stepping up efforts to stabilise the property developer. Vanke, in return, will pledge 211.5 million shares, or 18.3%, of its listed property services unit, Onewo Inc, as collateral, the company said in a filing late on Monday. The loan is the first liquidity support from Shenzhen Metro after a senior management reshuffle in Vanke last month that increased state oversight and intervention to contain any non-repayment risks.

Reuters 2 months ago

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China Vanke's shares jump on fresh state support, management reshuffle

HONG KONG (Reuters) -A management reshuffle at China Vanke that reinforced government support sent the developer's shares higher on Tuesday, as investors cheered the removal of near-term default risks and hoped it would bring some stability to the struggling property sector. Analysts cautioned, however, that it remained to be seen to what extent the local government of Shenzhen is planning to help Vanke ease its financial stress, and said if its liquidity problems persist even after the state support, it could further hamper homebuyer confidence. China Vanke, one of the best-known property company names in China and currently around a third owned by state-owned Shenzhen Metro, announced on Monday that Chairman Yu Liang and CEO Zhu Jiusheng have stepped down, as it forecast a record $6.2 billion net loss for 2024.

Reuters 3 months ago

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FirstFT: Breakthrough by China’s DeepSeek sparks market rout

Good morning. In today’s newsletter: DeepSeek’s breakthrough sparks tech sell-offVanke’s crisis reignites fears for China’s property sector India...

PREMIUM
Financial Times 3 months ago

TSLA

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Vanke’s woes reignite fears for China’s property sector

Leading Chinese property developer Vanke has forecast a $6.2bn annual loss and announced the sudden resignation of its top leadership, reigniting...

PREMIUM
Financial Times 3 months ago

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Vanke's No. 1 investor installs chairman in ailing developer to guide its way out of debt

Embattled builder China Vanke, once the second-largest Chinese developer by sales, reshuffled its management while forecasting a record US$6.2 billion net loss for 2024 as it struggles to get out from under US$4.9 billion in debt maturing this year. The company named a chairman with a state-linked background, sending positive signals about its ability to pay its debts after a bond sell-off triggered ratings downgrades from Fitch Ratings and S&P Global a week ago. The news boosted prices of Vanke

South China Morning Post 3 months ago

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China Vanke's CEO, chairman resign as $6.2 billion forecast loss deepens concerns

HONG KONG (Reuters) -Property developer China Vanke said on Monday its chairman Yu Liang and CEO Zhu Jiusheng stepped down as it forecast a record $6.2 billion net loss for 2024, as concerns over the company's liquidity deepen. Xin Jie, the chairman of its major state-owned shareholder Shenzhen Metro, will become Vanke's chairman, signalling increased state oversight on expectations that the government would step in to contain non-repayment risks as the developer faces several debt maturity deadlines this year. Yu will remain at the company as executive vice president, while three others from Shenzhen state-owned firms will join in the same role.

Reuters 3 months ago

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China's Vanke in talks to sell logistics firm stake to GIC, source says

Indebted property developer China Vanke Co Ltd is in advanced talks to sell a controlling stake in VX Logistics to Singaporean sovereign wealth fund GIC, a person with knowledge of the matter said. Vanke and GIC declined to comment. State-backed Vanke has been trying to sell a number of assets, including its stakes in cold chain logistics firm VX, logistics platform GLP and property management unit Onewo, to ease liquidity pressure, sources said last week.

Reuters 3 months ago

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Vanke woes to test limits of China's property sector revival efforts

HONG KONG (Reuters) -After numerous measures to resolve a liquidity crisis in the property market in recent years, Beijing is expected to end up dusting off an old playbook and step in directly to stabilise a state-backed developer seen as a bellwether for the sector. With the crisis in the sector entering its fifth year, concerns about the financial health of China Vanke pose fresh challenges for the authorities, who have so far avoided the moral hazard of bailing out a debt-laden developer. Vanke's crisis came into focus last Thursday after a state media report alleged that its CEO had been detained and that it could be subject to a takeover or reorganisation.

Reuters 3 months ago

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China Vanke has no plans to extend bonds amid market slump, REDD reports

Vanke's onshore bond prices have been volatile in the past few weeks over concerns about its ability to make maturity payments this year following a prolonged property market slump. The state-backed developer has a total of $3.4 billion worth of public bonds, which are mostly onshore debt except one dollar bond - maturing this year. REDD reported on Thursday that China Vanke briefed investors on the matter after online rumours that it was considering bond extensions.

Reuters 3 months ago

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China stimulus draws investors back to offshore bonds of troubled property sector

Some Chinese and global institutional investors are revisiting Chinese property bonds, betting on an improvement in outlook as the government accelerates efforts to boost economic growth and revive a property sector in the throes of a debt crisis. Investors began returning after the announcement on Tuesday of the most aggressive stimulus measures since the pandemic, mostly targeting the property sector and triggering a rally in the offshore bonds of property developers. Credit investment specialist Beijing G Capital Private Fund Management Center placed orders worth "a few dozens of millions of yuan" to buy property bonds for the first time in several months, said its chairman, Li Gen.

Reuters 7 months ago

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China's home de-stocking push to bring developers little cheer

HONG KONG/BEIJING (Reuters) -China's efforts to clear massive inventory by turning unsold homes into affordable housing are unlikely to help cash-strapped developers due to the programme's limited size and potentially low prices, analysts and developers say. As part of a support package for the crisis-hit property sector, Beijing announced last month a plan for a 300 billion yuan ($41 billion) lending facility, which could result in 500 billion worth of bank financing for local state-owned enterprises (SOEs) to purchase completed and unsold homes. Chinese banks are expected to extend cheaper loans to SOEs via the facility, backed by the central bank, to help them buy the homes from developers at "reasonable prices" to turn into affordable housing.

Reuters 10 months ago

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China Vanke sells Shenzhen land plot at loss-making reserve price

HONG KONG and BENGALURU (Reuters) -Embattled Chinese property developer China Vanke said on Monday it had completed the sale of a plot of land in Shenzhen for 2.24 billion yuan ($309.23 million), more than 27% below the price it paid for the block nearly seven years ago. The company is working to raise funds after saying last month it is facing short-term liquidity pressure, one of many companies to have been caught up in a broad-based cash crunch in China's crisis-hit real estate sector. Vanke's largest shareholder, state-owned Shenzhen Metro, and Shenzhen Baishuo Yinghai Investment jointly bought the plot at the reserve price, according to an online filing uploaded to a trading center in Shenzhen on Monday.

Reuters 11 months ago

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China Vanke units guarantee US$1.1 billion in loans for troubled developer after Fitch Ratings downgrade

Troubled property developer China Vanke will receive a 7.8 billion yuan (US$1.1 billion) lifeline in the form of bank loans guaranteed by its subsidiaries, a day after the company had its credit rating cut. Shenzhen Yili Real Estate Development provided a guarantee for a 4.49 billion yuan loan, while Shenzhen Zhongke Wanxin Industrial offered a guarantee for a 3.29 billion yuan borrowing, Vanke said in a Friday stock exchange filing. The loan arrangement came after Fitch Ratings on Thursday down

South China Morning Post 11 months ago

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China Vanke granted $2.8 billion onshore syndicated loan facility

Cash-strapped major property developer China Vanke said on Thursday it had received a 20 billion yuan ($2.76 billion) syndicated loan facility and it would continue to push forward other financing to boost its liquidity. It was unclear whether this new syndicated loan facility, led by China Merchants Bank according to Vanke in a statement on Thursday, is part of the 80 billion yuan target or separate from it. Half of the 20 billion yuan facility - the largest to the real estate sector since 2020 - has been transferred to Vanke, a person with direct knowledge of the matter said, and the loan was pledged to shares in VX Logistics, a integrated logistics service provider under Vanke.

Reuters 11 months ago

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Performance Overview

Return	2202.HK	SSE Composite Index (000001.SS)
YTD	-0.76%	-0.29%
1-Year	+11.25%	+5.95%
3-Year	-66.01%	+11.25%

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China Vanke Co., Ltd. (2202.HK)

China Vanke's Hong Kong unit sees strong sales in Tai Po project despite mortgage concerns

Some Hong Kong banks refuse mortgages for China Vanke's Le Mont project in Tai Po

Struggling Chinese builder Vanke turns to state managers to ‘stop the decline’

China Stocks Rise Despite Tariffs and Property Woes. Will It Last?

China Vanke gets $383 million loan from state shareholder

China Vanke's shares jump on fresh state support, management reshuffle

FirstFT: Breakthrough by China’s DeepSeek sparks market rout

Vanke’s woes reignite fears for China’s property sector

Vanke's No. 1 investor installs chairman in ailing developer to guide its way out of debt

China Vanke's CEO, chairman resign as $6.2 billion forecast loss deepens concerns

China's Vanke in talks to sell logistics firm stake to GIC, source says

Vanke woes to test limits of China's property sector revival efforts

China Vanke has no plans to extend bonds amid market slump, REDD reports

China stimulus draws investors back to offshore bonds of troubled property sector

China's home de-stocking push to bring developers little cheer

China Vanke sells Shenzhen land plot at loss-making reserve price

China Vanke units guarantee US$1.1 billion in loans for troubled developer after Fitch Ratings downgrade

China Vanke granted $2.8 billion onshore syndicated loan facility

Performance Overview