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On May 23, the reporter of the Daily Economic News learned from the national enterprise credit information publicity system that Vanke Logistics Development Co., Ltd. (hereinafter referred to as Vanke Logistics), the controlling shareholder of Vanke Enterprise Co., Ltd., pledged 26.976 billion shares of Vanke Logistics to China Merchants Bank Shenzhen Branch of the Company Limited, the registration date of equity pledge establishment is May 20, 2024.
According to the information of shareholders' investment, Vanke Enterprise Co., Ltd. subscribed 26.976 billion yuan to Vanke Logistics, holding about 81.62% of the shares. In other words, Vanke Enterprise Co., Ltd. pledged all the shares of Vanke Logistics.
Source: National Enterprise Credit Information Publicity System
The legal representative of Vanke Logistics is Zhang Xu, who is the head of Vanke Logistics. At present, Vanke's Wanwei Logistics has served more than 1600 enterprises in the world, and the scale of cold chain storage remains the first in China.
In 2023, Wanwei Logistics will achieve an operating income of 4.18 billion yuan in 2023, up 17.2% year on year, of which the operating income of high standard warehouse will be 2.3 billion yuan, up 6.3% year on year; The cold chain business income (excluding supply chain business income) was 1.88 billion yuan, up 33.9% year on year.
On March 1, Huaxia Wanwei Warehouse Logistics Closed Infrastructure REIT issued a prospectus at Shenzhen Stock Exchange, officially entering the issuance stage. The announcement shows that the assets of the REIT are Wanwei Logistics under Vanke, and the underlying assets are Foshan Nanhai Logistics Park, Shaoxing Zhuji Logistics Park and Huzhou Deqing Logistics Park. The total construction area of the three projects is 267700 square meters, with a total valuation of 1.149 billion yuan.
To sum up, Wanwei Logistics is still a stable business capable of sustainable operation and financing for Vanke. However, Wanwei Logistics is not among the three main businesses that Vanke will focus on in the future.
At the 2023 annual general meeting of shareholders on April 30, in order to reduce risks, improve fundamentals, and seek long-term healthy development, Yu Liang, Chairman of Vanke's Board of Directors, explained in detail Vanke's slimming and fitness package.
Yu Liang said that the package mainly includes two stages. The first stage is to firmly slim down, adjust the financing mode and reduce risks. Specifically, in addition to the three main businesses of comprehensive residential development, property services and rental apartments, it will exit other businesses and clear up and transfer the financial investment of non main businesses. We will resolutely and vigorously promote business office and other large asset transactions, and plan to complete 20 billion yuan annually. At the same time, actively complete the transformation of financing mode. In the second stage, Vanke will focus on its main business, refine its business, and become the industry's product benchmark and service benchmark. The package plan is not only a plan for contraction and pressure drop, but also a plan for development and progress. The first phase of slimming is to gather resources and lay the foundation for the second phase.
Recently, Vanke has received a number of bank loans, totaling more than 7.8 billion yuan, through a number of subsidiaries providing equity pledge guarantees.
At the 2023 annual performance presentation meeting at the end of March this year, Yu Liang said that Vanke's management team is determined not to lie flat, and will certainly cross this milestone. The company will increase the efforts in the inventory of living stock, real estate change and other work, and reduce the interest paying debt of more than 100 billion yuan in the next two years to ensure the company's safety.
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