China Vanke Co., Ltd. (000002.SZ) announced on August 13 that its subsidiaries Hainan Wan Juyingtong Enterprise Management Co., Ltd., Shenzhen Wanke Development Co., Ltd., and Citic Goldstone Fund Management Co., Ltd. (referred to as "Citic Goldstone," one of the general partners), Citic Securities Investment Co., Ltd. (one of the limited partners), and Taikang Life Insurance Co., Ltd. (one of the limited partners) signed the "Wanxin Goldstone (Nanjing) Business Investment Partnership Enterprise (Limited Partnership) Limited Partnership Agreement," and jointly invested in the establishment of the "Wanxin Goldstone (Nanjing) Commercial Investment Partnership Enterprise (Limited Partnership)" (referred to as the "Citic Vanke Consumer Infrastructure Fund"). The fund has a fundraising scale of RMB 2.234 billion, mainly used to acquire the assets of two of the company's subsidiaries, Beijing Jiugong Vanke Plaza and Shenzhen Longgang Vanke Plaza, which are mainly held by the two subsidiaries, as well as operating property loans and other liabilities. The fund will hire Citic Goldstone as the executive affairs partner to take charge of investment management and operation of the fund.
The company's subsidiary Wan Juyingtong has subscribed RMB 10 million and Shenzhen Wanke has subscribed RMB 1,242.157 million, with a total proportion of 56.05% in Citic Vanke Consumer Infrastructure Fund. The company has the right to transfer no more than 36.05% of the subscribed shares to subsequent investors in accordance with the limited partnership agreement. The participation of the company's subsidiaries in Citic Vanke Consumer Infrastructure Fund is an important measure to implement the company's "package plan," which will help the company focus on its main business, streamline and improve, and build a future-oriented, strategic, and sustainable asset securitization platform.