CHINA VANKE (02202) rose more than 6% in afternoon trading. As of the time of writing, the stock was up 4.31% at HK$3.63, with a turnover of HK$252 million. On the news front, a proposal to extend the maturity of a Vanke bond, "21 Vanke 02," with a remaining balance of 1.1 billion yuan, by one year has been approved. Analysts pointed out that this is the first successfully implemented proposal in Vanke's current round of negotiations for multiple bond extensions, marking a crucial opportunity for the company to gain valuable breathing room amid its liquidity crisis. An industry insider indicated that the approval of the one-year extension for "21 Vanke 02" sets a precedent, potentially increasing the likelihood of approval for the extension proposals currently under negotiation for Vanke's two other bonds, "22 Vanke MTN004" and "22 Vanke MTN005."