China Vanke gains on 2.8 bln-yuan loan from state-owned shareholder

Onewo

11/02/2025 05:09

** Hong Kong shares of China Vanke  2202.HK  climb 2.4% to
HK$5.58; set for fourth consecutive session of gains
    ** Cash-strapped property developer's major state-owned
shareholder Shenzhen Metro extending a 2.8 bln yuan ($383 mln)
loan in a sign that Beijing is boosting efforts to stabilise co
    ** Vanke will in return pledge 211.5 mln shares, or 18.3%,
of its property services unit Onewo  2602.HK  as collateral
    ** Onewo snaps three straight sessions of gains to ease 1.1%
    ** In separate filing, Vanke says it will repay on time the
3 bln yuan-notes maturing on February 16
    ** Shenzhen stock  000002.SZ  slips 1.5%
    ** Last year co's Hong Kong and Shenzhen shares dropped
26.7% and 30.6%, respectively

($1 = 7.3066 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))