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12 stories mentioning HKG:2202Updated just now

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Asia

Fitch Upgrades China Vanke's IDR to CC

Fitch Ratings upgraded China Vanke's (HKG:2202, SHE:000002) long-term foreign- and local-currency issuer default ratings to CC from RD after completing a series of bond restructurings, according to a July 31 release from the ratings firm.The property developer's Hong Kong shares rose 2% during Monday's midday trade.The ratings firm viewed the bond restructuring series as a distressed debt exchange.Fitch also affirmed the long-term IDR of the company's subsidiary, Vanke Real Estate (Hong Kong), at CC and its senior unsecured rating outstanding senior bonds' rating at C. Its lower Recovery Rating was changed to RR6 from RR5.Both companies were rated under Fitch's Parent and Subsidiary Linkage Rating Criteria as their credit profiles reflect very high credit risk.

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Asia

China Vanke Secures Up to 519 Million Yuan Loan From Shenzhen Metro

China Vanke (HKG:2202, SHE:000002) secured a loan of up to 519 million yuan from substantial shareholder Shenzhen Metro and agreed to pledge 519 million yuan of accounts receivable as collateral, according to a Tuesday Hong Kong bourse filing.The loan carries a floating interest rate of the one-year loan prime rate minus 71 basis points, equivalent to 2.29% as of the announcement date, and matures within three years from the first drawdown.The proceeds will be used to repay outstanding bond principal and interest, as well as other designated debt obligations.Shenzhen Metro Group owns about 27.18% of China Vanke, according to the filing.

HKG:2202SHE:000002
Asia

China Vanke Warns of Wider H1 Loss

Property developer China Vanke (HKG:2202, SHE:000002) expects an attributable loss of between 12 billion yuan and 15 billion yuan in the first half of 2026, wider than 11.9 billion yuan a year prior.The forecast was mainly due to a lower scale of settlement for real estate development projects and gross profit margins, additional provisions for asset impairment, and losses by operating businesses and certain financial investments, according to a Friday filing.

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Asia

China Vanke to Redeem Portion of Onshore Bonds for Extended Maturity

China Vanke (HKG:2202, SHE:000002) said it would redeem about 40% of its 3.07% bonds due July 7 at maturity, according to a Hong Kong bourse filing Tuesday.The firm has 2 billion yuan of the on-shore notes outstanding and is redeeming a portion of the debt in exchange for extending the maturity on the remaining bonds by one year to July 7, 2027.The firm had offered the same arrangement to holders of other notes.

HKG:2202SHE:000002
Asia

China Vanke Secures Additional Borrowings From Shareholder; Redeems Portion of Onshore Bonds

China Vanke (HKG:2202, SHE:000002) said it secured a further 1.14 billion yuan in borrowings from its substantial shareholder Shenzhen Metro Group, according to a Friday filing with the Hong Kong bourse.The distressed developer will use proceeds from the three-year facility to repay public market debt and related interest obligations.Interest on the loans will be calculated on the basis of the one-year loan prime rate minus 71 basis points.The new loan agreement follows an earlier agreement in May for borrowings of up to 2.5 billion yuan.Separately, China Vanke said it will repay 863.1 million yuan of principal and interest on its 2023 third-tranche medium-term notes at maturity on June 15, including a scheduled redemption of 40% of the principal.The firm previously asked holders of the 3.07% onshore bonds to extend the debt's maturity by one year in exchange for the 40% principal repayment, Reuters reported.China Vanke made the same offer to holders of another 2 billion yuan in debt due July 7.Meanwhile, in a separate announcement, the firm said it was abandoning the public tender of Huanshan Group after it failed to receive bids for the business.The company had announced the sale of the livestock firm in April as part of efforts to exit non-core operations.China Vanke said it would continue to explore the sale of the business through other avenues.

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Asia

Market Chatter: China Vanke Offers to Repay Some Principal on Onshore Bonds In Exchange for Extending Maturity

China Vanke (HKG:2202, SHE:000002) is asking holders of some of its onshore medium-term notes to extend the bonds' maturity by one year, offering to repay part of the principal upfront in return, Reuters reported Tuesday.The distressed developer has offered to repay 40% of the principal if holders of two 2 billion yuan bonds due on June 15 and July 7 push maturity forward, the report said, citing sources. The notes offer coupons of 3.07% each.Two other corporate bonds due or puttable in July are also subject to the same proposal, Reuters reported.The company has scheduled a meeting with bondholders on June 5 with a voting deadline of June 9.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

HKG:2202SHE:000002
Asia

Fitch Downgrades China Vanke to RD

Fitch Ratings downgraded China Vanke's (SHE:000002, HKG:2202) issuer default ratings to RD from CC following the recent completion of an onshore bond restructuring, according to a Monday news release.The property developer restructured 2 billion yuan in bonds initially due May 12, repaying 40% of the principal and extending the maturity date of the remaining 60% by one year.The rating agency viewed the restructuring as a distressed debt exchange. It expected further debt restructuring or missed payments in the coming weeks due to the company's restricted cash balance.China Vanke will have 11 billion yuan in capital market debt maturing from May to December.

HKG:2202SHE:000002
Asia

China Vanke to Repay Portion of 2 Billion Yuan Bond

China Vanke (HKG:2202, SHE:000002) said the repayment for a portion of a 2 billion yuan bond plus interest is due on Tuesday, according to a Hong Kong bourse filing.The total amount to be paid is 864.2 million yuan.The 3.10% bond was launched on May 12, 2023, and has a three-year term.Agricultural Bank of China (SHA:601288, HKG:1288) and Ping An Bank (SHE:000001) serve as the issuance's leading underwriters.

HKG:1288HKG:2202SHA:601288SHE:000001SHE:000002
International

Market Chatter: China's Corporate Profits Decline for Third Straight Year in 2025

Net profit of 5,400 listed Chinese nonfinancial firms fell 2% to 2.54 trillion yuan in 2025, marking the third consecutive annual decline, Nikkei Asia reported Thursday.Loss-making companies surged to 1,458, or 27% of the total, nearly 100 more than the previous record in 2024, according to the report. By comparison, only 2% of Tokyo's prime market-listed companies are unprofitable.Real estate developer China Vanke's (HKG:2202, SHE:000002) net loss widened 80% to 88.5 billion yuan. Of 108 property developers, 59 posted losses, Nikkei Asia wrote.Retailers also struggled as weak housing markets dampened consumer sentiment, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Shanghai Composite^SZSEHKG:2202SHE:000002
Asia

China Vanke's Loss Narrows 5% in Q1

China Vanke (HKG:2202, SHE:000002) posted a net loss attributable to equity shareholders of 5.95 billion yuan for the first quarter, narrowing 4.7% from a loss of 6.25 billion yuan a year earlier, according to a Wednesday Hong Kong bourse filing.Shares of the developer were down over 1% in Thursday afternoon trade.Loss per share came in at 0.4989 yuan from 0.5268 yuan a year earlier.Revenue fell 24% to 28.9 billion yuan from 38 billion yuan in the prior-year period.

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Asia

China Vanke Wins Shareholder Approval to Extend Repayment for 2 Billion Yuan Bond

China Vanke Co (HKG:2202, SHE:000002) said shareholders approved a proposal to adjust repayment terms for its 2 billion yuan medium-term notes due April 2026, according to a Tuesday Hong Kong bourse filing.Under the revised arrangement, consenting shareholders will receive 100,000 yuan per account at maturity, along with 40% of the principal and accrued interest.The remaining principal will be extended by one year to April 23, 2027.The notes carry a coupon rate of 3.11%, which will remain unchanged during the extension period, with interest to be paid together with the deferred principal.The developer said it will provide a pledge over project receivables as credit enhancement for the extended portion.

HKG:2202SHE:000002
Asia

Beijing Oriental Yuhong Waterproof Approves Debt Restructuring Plan

Beijing Oriental Yuhong Waterproof Technology's (SHE:002271) said its board of directors approved the proposal for debt restructuring, according to a Friday disclosure on the Shenzhen bourse.Under the plan, 352.4 million yuan is the amount for debt restructuring as creditor and 129.4 million yuan is for debt restructuring as debtor.The company will accept real estate assets to offset receivables and it will use assets to repay its debt.The company's creditors include China Vanke's (HKG:2202, SHE:000002) subsidiaries.The waterproofing system provider's shares slipped over 1% during the midday trade.

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