Vanke Enterprise (02202) issued an announcement. In order to meet business needs, the company applied for a loan from the bank, and the company's holding...
According to the Zhitong Finance App, Vanke Enterprise (02202) issued an announcement. In order to meet operating needs, the company applied for a loan from the bank. The company's holding subsidiaries separately guarantee the relevant loans by pledging the shares of the project company or pledging the project assets. In addition, some holding subsidiaries assume repayment obligations together with the company as co-borrowers.
The 2023 Annual General Meeting of Shareholders of the Company reviewed and passed the “Proposal on Requesting the Shareholders' Meeting to Authorize the Company and its Holding Subsidiaries to Provide External Guarantees”, agreeing that the company shall provide guarantees for the holding subsidiary and the bank and other financial institutions of the parent company or other holding subsidiaries. The total amount of additional guarantees provided during the authorization period shall not exceed RMB 150 billion, and is valid from the date of the resolution of the 2023 Annual General Meeting of Shareholders to the date of the 2024 Annual General Meeting of Shareholders. While obtaining authorization from the shareholders' meeting, the board of directors has further authorized the company's president to decide on a single external guarantee amount less than RMB 12.5 billion.