The chairman, president and secretary of the board of Vanke resigned collectively. Wang Shi responded: The national team came to the rescue.

On January 27, Vanke issued an announcement announcing a major personnel adjustment in the core positions of the company's management. Yu Liang, the Chairman of the Board, Zhu Jiusheng, the President, and Zhu Xu, the Secretary of the Board, collectively resigned. The specific situations are as follows:

1. Due to work adjustment reasons, Mr. Yu Liang applied to resign as the Chairman of the Board of the company. After resigning from the above position, Mr. Yu Liang will continue to serve as a director of the company and hold the position of Executive Vice President.

2. Due to health reasons, Mr. Zhu Jiusheng applied to resign as a director of the company, a member of the Board's Investment and Decision-Making Committee, the President, the Chief Executive Officer, and the Authorized Representative. After resigning, Mr. Zhu Jiusheng will no longer hold any position in the company.

3. Due to work adjustment reasons, Ms. Zhu Xu applied to resign as the Secretary of the Board, the Company Secretary, and the Authorized Representative. After resigning from the above positions, Ms. Zhu Xu will still work in the company and be in contact with the Long-Term Rental Apartment Division.

The Vanke Board of Directors elected Xin Jie as the new Chairman of the Board, and the Executive Vice Presidents are Yu Liang, Li Feng, Hua Cui, and Li Gang, while Tian Jun takes over as the Secretary of the Board.

At the same time, Vanke released the 2024 annual performance forecast, expecting a loss of approximately 45 billion yuan attributable to shareholders of the listed company, and a net profit after deducting non-recurring profits and losses is expected to be a loss of approximately 41 billion yuan, ushering in the largest annual loss in history.

Vanke stated that during the reporting period, the settlement profit of the real estate development business mainly corresponds to the projects sold in 2022 and 2023, as well as the existing houses and quasi-existing house inventories digested in 2024. Most of these projects are land acquired before 2022, with a high land acquisition cost, and the sales situation and gross profit margin are lower than the investment expectations, resulting in a significant reduction in the total settlement gross profit during the reporting period. The company deeply apologizes for the performance loss and will go all out to promote operational improvement.

Some industry insiders believe that the above-mentioned major personnel adjustment is a sign that Shenzhen Metro Group is beginning to take over Vanke.

Xin Jie, the new Chairman of the Vanke Board, is also the current Chairman and Party Secretary of Shenzhen Metro Group Co., Ltd., and the Chairman and a member of the Investment and Decision-Making Committee of Vanke Enterprise Co., Ltd.

Xin Jie, born in 1966, once worked in Shenzhen Foreign Trade Group and Shenzhen Great Wall Property Management Company; in August 1998, he entered Shenzhen Changsheng Industrial Development Co., Ltd. and served as the deputy manager; in December 2004, he served as the deputy general manager of Shenzhen Great Wall Investment Holdings Co., Ltd.; from October 2009 to September 2017, he successively served as the director, general manager, and deputy Party Secretary, and the chairman and Party Secretary of Shenzhen Tianjian (Group) Co., Ltd.; in September 2017, he entered Shenzhen Metro Group Co., Ltd. and has served as the chairman and Party Secretary to date. After Shenzhen Metro Group became a major shareholder of Vanke, in November 2021, Xin Jie became a director of the Vanke Board, and in October 2023, he became the Vice Chairman of the Vanke Board.

Tian Jun, the new Secretary of the Board, also has a working background in Shenzhen Metro Group. Tian Jun, born in 1970, has successively served as a financial analyst of Ping An Insurance (Group) Company of China, the executive secretary of the Group Investment Management Committee, the executive secretary of the Group Financial Management Committee, and important positions such as senior executives of Ping An Asset Management, Ping An Life Insurance, Ping An Securities, Ping An Fund, Ping An Huitong Investment, and Qianhai Settlement. In July 2017, he served as a full-time external director of Shenye Group, Shenzhen Metro Group, and Kunpeng Capital. Since May 2023, he has served as a full-time external director of Shenzhen State-owned Duty-Free Group. Since June 2024, he has served as a full-time external director of Shenzhen Investment Holdings Co., Ltd. and Shenzhen Innovation Investment Group Co., Ltd.

After the incident, Wang Shi, the former Chairman and founder of Vanke, reposted a message in his Moments with the caption: "The national team comes to the rescue!"

Message in Wang Shi's Moments

In the article of Shenzhen TV's Shenshi News, the viewpoint of a person in charge is quoted: Although Vanke encounters liquidity difficulties, it still possesses a considerable amount of high-quality assets. As the major shareholder, the Metro Group will exert its own advantages to support the newly formed management team in coordinating resource elements, mobilizing all forces, and promoting the sustainable, healthy, and stable development of Vanke.