Today, Vanke suffered a double whammy in terms of stock debt.

As of press release, Vanke's A-share price fell 5.13% to 7.58 yuan/share, reaching a new low, with a total market value of 90.43 billion yuan. Hong Kong stock Vanke fell 3.63%.

In the domestic bond market, “200,000 Ke 08” and “200,000 Ke 04” all fell by more than 4%, while “200,000 Ke 06,” “220,000 Ke 06,” and “210,000 Ke 04” fell by more than 3%.

Regarding today's market performance, Vanke staff recently stated that the company's recently announced results fell short of expectations, and the cancellation of annual dividends and public opinion concerns affected market performance, butThe company has plans for debt repayment, and management also said that each debt will have some corresponding measures to repay it.

The staff also revealed thatShenzhen's state-owned assets and Shenzhen Railway Group, the majority shareholder, also have some support for the company. Some have already been implemented, and some are still being discussed.

Executives taken away for investigation due to personal reasons

Today, there is news that Xiao Jin, general manager of Vanke Jinan Company, was taken away for investigation by Shandong police 48 hours ago.

Subsequently, Jinan Vanke responded that Xiao Jin was taken away for investigation due to personal reasons.

Jinan Vanke also said that the company is operating normally, and Jin Yabin took over as the general manager of the Jinan company. Investigations are still ongoing, so please refer to the information disclosed by the relevant government departments.

According to data, it has been 15 years since Xiao Jin joined Vanke in 2009. He is considered an old employee of Vanke. He has also achieved impressive results for Vanke before.

The investigation also sparked widespread speculation in the market.

On April 1, Vanke's cooperative shareholder in Yantai, Yantai Bairun Real Estate issued a public document accusing executives led by Yu Liang of using Vanke to misappropriate funds, issue usury loans, tax evasion, and money laundering.

However, Xiao Jin is also an executive in the Shandong region. After being taken away for investigation, he sparked a series of associations.

In response, Vanke previously stated that the content posted by Yantai Bairun Real Estate was seriously untrue. The dispute between Yantai Vanke and the local partner has now entered the judicial process. I believe the law will make a fair judgment.

Try to “stay alive”

As the real estate industry continues to be sluggish, many housing enterprises are facing a liquidity crisis, and Vanke's situation is not optimistic.

In 2023, Vanke achieved revenue of 465.74 billion yuan and net profit of 12.16 billion yuan to mother. Performance was lower than expected, and Vanke canceled annual dividends.

Regarding the question of whether Vanke is confident of “surviving”, which the outside world is highly concerned about,Yu Liang, chairman of Vanke's board of directors, said that if we never lie flat, we will definitely cross this phased threshold.

He said,Vanke will step up efforts to revitalize stocks, change real estate, etc., and reduce interest payment debt by 100 billion yuan over the next two years to ensure company safety.

Meanwhile, eight Vanke company executives voluntarily relinquished their 2023 bonuses, and Chairman of the Board of Directors Yu Liang, CEO Zhu Jiusheng, and Supervisory Board Chairman unfrozen voluntary salary cuts to 10,000 yuan per month before tax.