China Vanke secures CNY 3bn loan from Shenzhen Metro

China Vanke [SZSE:000002] announced that it will receive a loan of up to CNY 3 billion from its largest shareholder, Shenzhen Metro Group. The funds are earmarked for repaying principal and interest on publicly issued bonds, along with other designated loan interest approved by Shenzhen Metro. The loan term will not exceed 36 months, with interest calculated at the one-year Loan Prime Rate (LPR) minus 66 basis points, currently at 2.34%. Shenzhen Metro Group currently holds 27.18% of China Vanke's shares, and this transaction has been exempted from requiring a shareholder's meeting by the Shenzhen Stock Exchange. Independent directors have approved the related-party transaction, noting that the borrowing terms are fair and aligned with market conditions.