Vanke backs subsidiaries with guarantees, redeems bonds

China Vanke (SZSE:000002) has announced it is providing guarantees for bank loans to several subsidiaries to meet operating needs. The company's subsidiary, Xuzhou Wanxin Real Estate, received a loan of CNY 301 million from Bank of Communications Shenzhen, secured by a pledge of Xuzhou Wanqiao Enterprise Management Consulting’s 100% equity in Xuzhou Wanxin. Vanke also guarantees loans to Shishi Hean Logistics, with Vanke Logistics Investment pledging its 100% stake in Shishi Hean for a CNY 120 million loan from Xiamen Bank. Furthermore, Vanke’s subsidiary, Lianjiang Hongsheng Cold Chain Logistics, has received CNY 132 million also from Xiamen Bank.