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Vanke Enterprise provided a guarantee for Dingtai and the company to apply for a loan of 600 million yuan from the Bank of Communications
Vanke Enterprise (02202) announced that in order to meet business needs, the company's wholly-owned subsidiary Xiamen Dingtaihe Investment Co., Ltd. (hereinafter referred to as “Dingtaihe Company”) applied for a bank loan of RMB 600 million from the Shenzhen branch of Bank of Communications Co., Ltd., for a period of not more than 15 years. Xiamen Vanke Enterprise Co., Ltd., a wholly-owned subsidiary of the company, uses 100% of Dingtai and the company's shares to provide a corresponding pledge guarantee for the aforementioned loan; at the same time, the company provides joint and several liability guarantees for the aforementioned loan matters.
Poly Development (600048.SH) topped the sales performance rankings of Chinese real estate companies for the first 5 months before the China Index Research Institute released
On May 31, the China Index Research Institute released the sales performance ranking of Chinese real estate companies from January to May 2024.
[Hong Kong Stock Connect] According to reports, Vanke (02202) is having in-depth discussions with major domestic banks on loans of about RMB 50 billion
Jinwu Financial News | According to reports, Vanke (02202) is conducting in-depth negotiations with major domestic banks on loans of about 50 billion yuan (same below), which will be used to repay bonds and other debts. Sources said that the loan will be secured by real estate assets worth about 80 billion to 90 billion yuan, and is part of Vanke's total asset package of about 130 billion yuan. Sources said that about 6 to 7 banks plan to participate in this loan, including China Construction Bank (00939) and Ping An Bank. According to reports, banks are still choosing collateral for this loan.
Jefferies: Reiterates Linzhan Real Estate Fund's “Buy” Rating Target Price to HK$42
According to a research report released by Jefferies, the target price of the Lingzhan Real Estate Fund (00823) was slightly raised by 2.43%, from HK$41 to HK$42. It is expected that the 2025 financial allocation per unit (DPU) will increase by 1%-2%, mainly benefiting from the acquisition of Qibao Vanke Plaza. Although the rent renewal adjustment rate is still expected to be a low number of units, the rating reaffirms “purchase.” The bank expects that Lingzhan is confident of keeping borrowing costs below 4% (around 3.78% in FY2024). The company will consider various options to control capital costs, such as expanding RMB debt. The company's management's guidelines indicate that rent renewal for fiscal year 2025
Changes in Hong Kong stocks | Domestic housing stocks are collectively declining, and the property market is still in the adjustment stage. The effects of the new deal are expected to catalyze real estate vitality
Domestic housing stocks declined collectively. As of press release, Sunac China (01918) fell 6.04% to HK$1.4; Shimao Group (00813) fell 4.72% to HK$1.02; and Vanke Enterprise (02202) fell 4.2% to HK$5.48.
Open Source Securities: Inventory pressure still exists in the property market, and subsequent financing progress is still worth paying attention to
According to incomplete statistics from Open Source Securities, as of May 28, 2024, 14 provinces (including Shenzhen, Shanghai, and Guangzhou) have introduced “trade-in” policies for commercial housing. Among them, Jiangsu, Shandong, and Zhejiang have implemented the most cities. In terms of urban energy levels, first-tier cities Shenzhen, Shanghai, and Guangzhou have successively implemented “trade-in” policies, and third-tier cities have implemented more “trade-in” policies.
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