Vanke appoints new chairman, assures bond payments

Citic Securities Company Limited, acting as trustee manager for China Vanke Company Limited's corporate bonds, has released a report detailing a change in Vanke's chairman and legal representative. On October 12, 2025, the 20th session of Vanke's board of directors approved the election of Mr. Huang Liping as the new chairman, succeeding Mr. Xin Jie, who resigned due to personal reasons. Mr. Huang Liping will also assume the role of the company's legal representative.

The report confirms that as of the announcement date, all of Vanke's outstanding bonds are servicing interest and principal payments normally, with no delays or defaults. Citic Securities states that this leadership change has no direct material adverse effect on Vanke's solvency. The trustee manager will continue to closely monitor Vanke's bond principal and interest payments and any other matters significantly impacting bondholders' interests.

This report, issued on October 14, 2025, covers various Vanke corporate bonds issued between 2020 and 2023. Investors are advised to exercise independent judgment regarding these developments.