China Vanke Co., Ltd. on 21 July 2026 signed a connected-transaction loan agreement with substantial shareholder Shenzhen Metro Group, obtaining credit facilities of up to RMB519.00 million.

The three-year facility carries a floating rate set at the one-year LPR minus 71 basis points, equal to 2.29% at signing. Drawdowns are permitted until 31 July 2026, and repayments—covering both principal and interest—must be made from collections of designated accounts receivable or no later than three years after first drawdown.

To secure the loan, China Vanke will pledge accounts receivable totalling RMB519.00 million from its controlled subsidiary Hainan Wanjun, producing a 100% loan-to-value ratio. Should collections fall short, the borrower must repay the shortfall in cash or furnish additional collateral acceptable to Shenzhen Metro Group.

Proceeds are earmarked for the repayment of existing on-market bonds and other lender-approved debt interest, aligning with China Vanke’s near-term liquidity needs.

Shenzhen Metro Group holds approximately 27.18% of China Vanke’s issued share capital. Aggregated with a RMB1.14 billion loan extended by the same lender in June 2026, the latest transaction exceeds the 0.1% but remains below the 5% connected-transaction threshold under Hong Kong Listing Rule 14A.81. Consequently, the deal requires announcement but is exempt from circular, independent financial advice and independent shareholder approval.

China Vanke’s Board approved the arrangement on 20 July 2026; interested directors abstained from voting. The Board states the terms were negotiated at arm’s length and are on normal or better commercial terms, viewing the transaction as beneficial to the company and all shareholders.