Chen Bo

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Articles

China Vanke Posts First-Ever Annual Loss as Liquidity Problems Pile Up

3 weeks ago | caixinglobal.com | Chen Bo |Denise Jia

Explore the story in 3 minutes[para. 1] China Vanke Co. Ltd., once a leading real estate company in China, reported its first-ever annual loss, indicating significant challenges in China's troubled property industry. [para. 2] The company, based in Shenzhen, experienced a dramatic 506.79% decrease in net profits, resulting in a 49.48 billion-yuan loss (approximately $6.82 billion) in 2024.
Shenzhen Metro Offers Vanke a $578 Million Lifeline to Repay Debts

2 months ago | caixinglobal.com | Chen Bo |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Vanke Co. Ltd., one of China’s largest real estate developers, has secured a three-year loan of 4.2 billion yuan ($578 million) from its largest shareholder, Shenzhen Metro Group Co. Ltd., to help repay maturing debt amid mounting financial pressure. The loan carries an interest rate of 2.34% and requires Vanke to provide 6 billion yuan in collateral within three months.
Ten Executives From Shenzhen Metro Group Assume Key Roles in China Vanke

2 months ago | caixinglobal.com | Chen Bo |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Vanke Co. Ltd. has revealed in an internal announcement that 10 executives from its state-owned shareholder Shenzhen Metro Group are to assume key positions in the troubled developer’s core departments and regional companies. The move follows a takeover of Vanke’s Shenzhen Hongshuwan project by the shareholder and the replacement of Vanke’s chairman Yu Liang by Shenzhen Metro Chairman Xin Jie last month.
Ten Executives From Shenzhen Metro Group Assume Key Roles in China Vanke

2 months ago | caixinglobal.com | Chen Bo |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Vanke Co. Ltd. has revealed in an internal announcement that 10 executives from its state-owned shareholder Shenzhen Metro Group are to assume key positions in the troubled developer’s core departments and regional companies.
Shenzhen Metro Buys Out Hongshuwan Project to Ease Vanke Debt Burden

2 months ago | caixinglobal.com | Chen Bo |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x As China Vanke Co. Ltd. approaches a peak in debt repayments, its state-owned shareholder, Shenzhen Metro Group, has stepped in to acquire the Shenzhen Hongshuwan project. While the deal provides limited liquidity, it helps optimize Vanke’s financial statements and signals increased state-backing for the property developer.
Vanke Chairman Yu Liang Resigns Amid Mounting Debt Concerns

2 months ago | caixinglobal.com | Chen Bo |Han Wei

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Vanke Co. Ltd. (000002.SZ) said its chairman Yu Liang has stepped down amid a series of top leadership changes as the cash-strapped property giant grapples with mounting debts and liquidity strain. Xin Jie, the chairman of Vanke’s major state-owned shareholder Shenzhen Metro, will take over as chairman.
Vanke Chairman Yu Liang Resigns Amid Mounting Debt Concerns

2 months ago | caixinglobal.com | Chen Bo |Han Wei

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Vanke Co. Ltd. (000002.SZ) said its chairman Yu Liang has stepped down amid a series of top leadership changes as the cash-strapped property giant grapples with mounting debts and liquidity strain. Xin Jie, the chairman of Vanke’s major state-owned shareholder Shenzhen Metro, will take over as chairman.
Vanke CEO’s Unclear Whereabouts Sparks Questions Over Indebted Developer's Future

Jan 17, 2025 | caixinglobal.com | Chen Bo |Ding Yi

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x Questions about the whereabouts of a China Vanke Co. Ltd. executive with financial know-how has once again cast a spotlight on the Shenzhen-based property giant as it struggles to repay its mounting debts. On Thursday, the Economic Observer, a Chinese financial news outlet, quoted multiple sources as saying that Vanke CEO and President Zhu Jiusheng has been taken away by police.
Bad-Debt Manager Cinda Sets up $2.7 Billion Fund to Help Revitalize Property Sector

Jan 10, 2025 | caixinglobal.com | Chen Bo |Han Wei

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Cinda Asset Management Co. Ltd., the state-owned bad asset manager, is launching a 20-billion-yuan ($2.7 billion) fund with its affiliates to come to the aid of struggling real estate developers and rescue projects threatened by the property downturn.
Hand Back Your Bonuses and Commissions, Evergrande’s Ex-Employees Told

Nov 27, 2024 | caixinglobal.com | Chen Bo |Denise Jia

00:00/00:00 您的浏览器不支持 audio 标签。 Listen to this article 1x China Evergrande Group has demanded that current and former managers return part of their salaries and bonuses. Employees at its wealth management arm are to return commissions tied to the unit’s wealth management products. The monies must be received by Saturday Nov. 30, a move likely to address the funding gaps in Evergrande Wealth’s repayment obligations, according to a person close to the company.