CHINA VANKE Gets RMB1.5B Guaranteed Loan From BANKCOMM

　　CHINA VANKE (02202.HK) +0.060 (+1.235%) Short selling $19.13M; Ratio 10.639% (000002.SZ) +0.080 (+1.144%) announced that in order to meet its operational needs, it has applied for a bank loan from BANKCOMM (03328.HK) +0.020 (+0.326%) Short selling $25.29M; Ratio 30.249% Shenzhen Branch and completed a drawdown of RMB1.5 billion, with a 10-year loan term.

　　Shenzhen Vanke Development (literal translation of “深圳市萬科發展”), a wholly-owned subsidiary of VANKE, intends to pledge 100% of its equity interest in Shenzhen Senmao Land (literal translation of “深圳森懋置地”) as a guarantee for the loan.

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　　As of the end of May, the balance of VANKE's guarantee amounted to RMB44.685 billion, accounting for 17.82% of the unaudited net assets attributable to shareholders at the end of last year. Among them, VANKE and its controlling subsidiaries provided guarantees for other controlling subsidiaries amounting to RMB44.503 billion, and provided guarantees for associates and joint ventures amounting to RMB182 million.

　　VANKE has previously obtained guaranteed loans from a number of banks, including a 3-year loan of RMB690 million from BANK OF CHINA (03988.HK) 0.000 (0.000%) Short selling $441.38M; Ratio 43.117% Shenzhen Branch, and three loans totalling RMB2.2 billion from ABC (01288.HK) +0.040 (+1.187%) Short selling $74.45M; Ratio 23.782% Shenzhen Branch, all with a 3-year maturity.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-24 16:25.) (A Shares quote is delayed for at least 15 mins.)

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