Vanke receives financial aid, pledges Onewo shares

China Vanke Co. (HKEX:2202) announced it has entered into a connected transaction with its substantial shareholder, Shenzhen Metro Group, involving financial assistance and asset collateral. The company received a loan of up to RMB4.2 billion from Shenzhen Metro Group in February 2025, and to supplement this, Vanke will provide asset collateral in the form of pledged Onewo Inc. shares. The asset collateral is at a 70% loan-to-value ratio, capped at RMB6 billion. Vanke expects to pledge 311,676,242 Onewo shares, roughly 27% of Onewo's total issued share capital. The loan proceeds will be used to repay existing debts. The deal is subject to independent shareholder approval at an upcoming general meeting.