Vanke's New Management Team Finalized

On July 31, CHINA VANKE held its First Extraordinary General Meeting of 2026, which reviewed and approved proposals for the re-election of the board of directors. Huang Liping, Huang Yu, Lei Jiangsong, Xu Enli, Yao Fei, and Zhu Zhiqiang were elected as non-independent directors of the 21st Board of Directors, while Huang Yaying, Liao Zibin, Wang Weiguo, and Yang Zhao were elected as independent directors of the 21st Board of Directors. During the meeting, when discussing the company's performance, Vanke's management stated that controlling and reducing losses is one of the company's core operational objectives for the year. Phased progress has been made in the first half of the year in areas such as categorized project strategies, lean operations, and expense control. However, influenced by multiple factors, short-term pressure to control losses remains substantial. The company will make every effort to promote the gradual improvement and recovery of operational performance.

The announcement indicated that Xu Enli was elected as the company's Chairman, and Huang Yu was reappointed as the company's President. The executive vice presidents and the board secretary remain the same team in place since early 2025, maintaining the overall stability of the management team.

It is understood that members of Vanke's new board generally possess experience in corporate management and capital markets, with diverse and complementary professional backgrounds. Newly elected Chairman Xu Enli has long been engaged in corporate management, with many years of deep involvement in the real estate sector. He has served as the head of companies listed on both the A-share and Hong Kong stock markets, possessing extensive experience in large-scale enterprise management, real estate business operations, and capital markets. His partnership with President Huang Yu aligns with Vanke's corporate characteristics and the needs of the current situation, facilitating the continued advancement of risk resolution and development.

At the shareholders' meeting, Huang Liping stated that this re-election would further strengthen the professional composition and capabilities of the board. The new board faces severe risks and challenges and will effectively fulfill its role in "setting strategy, making decisions, and preventing risks," uniting efforts to overcome difficulties together.

Regarding the company's progress in the first half of the year and its work plan for the second half, Vanke's management stated that, with support from various parties, the company has achieved phased progress in ensuring stable production and operations and resolving debt risks. However, Vanke's current operating environment remains severe, and the task of resolving risks is arduous. In the next stage, the company will continue to firmly implement its primary responsibility, coordinating short-term risk mitigation with long-term operational optimization, and fully promoting the implementation of various operational tasks. Meanwhile, regarding debt, the company will actively explore diversified market-based solutions, flexibly advancing debt optimization based on actual conditions to safeguard the long-term interests of all parties.

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