China Vanke received a loan from its major shareholder Shenzhen Metro Group with a principal amount of up to 22 billion yuan
China Vanke has signed a loan framework agreement with its major shareholder, Shenzhen Metro Group, which will provide up to 22 billion yuan in loans. The loan will be used to repay the principal and interest of various debts issued by the company in the public market. The company has established an independent board committee and appointed independent financial advisors to ensure the fairness and reasonableness of the transaction terms, in line with the overall interests of the company and its shareholders
According to the announcement from China Vanke (02202), on November 2, 2025, the company entered into a loan framework agreement with its major shareholder, Shenzhen Metro Group. Under this agreement, Shenzhen Metro Group agrees to provide the company with a total principal amount of up to RMB 22 billion in loans, mainly covering: (i) the unsecured credit loans that Shenzhen Metro Group has provided to the company under the designated agreement prior to the effective date; and (ii) the secured loans that Shenzhen Metro Group will provide to the company on or after the effective date in accordance with the terms and conditions of the loan framework agreement.
The proceeds from the loans will be used to repay and settle the principal and accrued interest of various debts issued by the company in the public market, as well as the accrued interest on designated loans agreed upon by Shenzhen Metro Group.
The company has established an independent board committee to provide opinions to independent shareholders on whether the terms of the transactions proposed under the loan framework agreement (including the proposed annual cap and the provision of asset collateral) are fair and reasonable, entered into on normal commercial terms in the ordinary and usual course of business, and whether they are in the overall interests of the company and its shareholders.
An independent financial advisor has been appointed to provide opinions to the independent board committee and independent shareholders on whether the terms of the loan framework agreement (including the proposed annual cap and the provision of asset collateral) are fair and reasonable, entered into on normal commercial terms in the ordinary and usual course of business, and in the overall interests of the company and its shareholders
