Vanke secures 1.666 bn yuan loan from Shenzhen Metro Group

China Vanke has secured a loan of up to 1.666 billion yuan from Shenzhen Metro Group, its largest shareholder with a 27.18% stake. This shareholder loan, intended to repay principal and interest on Vanke’s publicly issued bonds, has a term not exceeding three years, with a floating interest rate set at 66 basis points below the one-year Loan Prime Rate (LPR), currently 2.34%.

The transaction was approved by Vanke's twentieth board of directors at its twenty-eighth meeting on November 10, 2025, with associated directors recusing themselves. The board's independent directors also approved the loan, confirming its market-based interest rate is lower than Vanke's current borrowing costs from financial institutions and serves the best interests of the company and its shareholders.

This loan follows previous financing arrangements from Shenzhen Metro Group, which has cumulatively provided 291.3 billion yuan in loans to Vanke, excluding this current transaction. These arrangements include additional loans and extensions totaling over 130 billion yuan since the 2024 annual general meeting.