HK Stock Market Move | CHINA VANKE (02202) Soars Over 17% in the Afternoon, Recently Obtaining a Loan of up to 28 Billion Yuan from Shenzhen Metro Group

CHINA VANKE (02202) soared more than 17% in the afternoon, rising 16.18% to HKD 6.32 as of press time, with a turnover of HKD 11.69 billion. On the news front, on February 10th, Vanke announced that it had obtained a loan of no more than RMB 2.8 billion from major shareholder Shenzhen Metro Group. The announcement stated that CHINA VANKE will provide RMB 4 billion worth of ONEWO stocks as collateral, with a collateralization rate of 70%. The loan will be used to repay the principal and interest of the company's bonds issued in the public market. Zheng Huaiwu, Director of Research at Galaxy International Securities in China and Hong Kong, pointed out that the loan action by Shenzhen Metro Group was one of the potential measures expected by the bank and the market. Due to Shenzhen Metro Group's background as a central enterprise and strong financial strength, he believes that direct participation in Vanke's operation will help address the liquidity issue and restore confidence in Vanke's projects among homebuyers.