China Vanke granted $866 million loan from state-owned shareholder

Onewo

03/07/2025 09:55

BEIJING, July 3 (Reuters) - Property developer China Vanke's 000002.SZ biggest shareholder, state-owned Shenzhen Metro, will provide a loan of up to 6.2 billion yuan ($865.78 million) and has agreed to extend existing loans totalling 890 million yuan, it said on Thursday.

China Vanke said in a filing to the Shenzhen stock exchange that it will pledge equity in its property management service unit Onewo Inc 2602.HK as collateral for existing loans of 1.6 billion yuan.

($1 = 7.1612 Chinese yuan renminbi)

 (Reporting by Ethan Wang, Yukun Zhang and Ryan Woo
Editing by David Goodman
)

 ((Ethan.Wang@thomsonreuters.com;))