China Vanke, a state-backed company, is experiencing short-term liquidity pressure and operational difficulty. However, the company has prepared plans to stabilize its business and reduce debt. It has the support of Shenzhen's state assets regulator and its largest shareholder, state-owned Shenzhen Metro. Vanke's shares and dollar bonds have declined after losing its investment-grade status and facing investigations.
HONG KONG - State-backed China Vanke said it is facing short-term liquidity pressure and operational difficulty , but added that it has prepared"a basket of plans" to stabilise its business and cut debt.
Vanke has the support of Shenzhen's state assets regulator as well as its largest shareholder, state-owned Shenzhen Metro, after reporting its situation to them, it also said in a filing that summarised comments made by the company in a meeting with analysts on Sunday.
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China Vanke Liquidity Pressure Operational Difficulty Debt Shenzhen State Assets Regulator Shenzhen Metro Investment-Grade Status Investigations
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