China Vanke Co., Ltd. announced the formal execution of an accounts-receivable pledge agreement on 2 July 2026, advancing the connected transaction first disclosed on 12 June 2026.

Under the newly signed agreement, controlling subsidiary Beijing Zhongsheng Xingjian Real Estate Development Co., Ltd. has pledged receivables totaling RMB1.14 billion to Shenzhen Metro Group, the company’s substantial shareholder. The pledged assets will serve as collateral for a loan of up to the same amount—RMB1.14 billion—previously extended by Shenzhen Metro Group to China Vanke. The arrangement reflects a loan-to-value ratio of 100%.

All parties are required to complete pledge registration procedures and manage repayments in accordance with both the original loan agreement and the new pledge agreement.

The connected-transaction update does not alter other terms of the loan and remains subject to the oversight of China Vanke’s board, which currently consists of one executive director, three non-executive directors and three independent non-executive directors.