<div id="readability-page-1"><div> By Jiahui Huang <pre></pre> Shares of China Vanke rose, after the state-backed property developer disclosed four new proposals for delaying the repayment period for its overdue bonds. Its Hong Kong-listed shares rose 6.9% to 3.59 Hong Kong dollars, equivalent to 46 U.S. cents, on Thursday afternoon, while its Shenzhen-listed shares were up 3.4%. Hong Kong's benchmark Hang Seng Index was down 0.2%, and the Shenzhen Composite Index was down 0.1%. Vanke's gains came after the company issued two statements on Shanghai Clearing House on Thursday regarding two medium-term notes. Both statements said that it will hold a meeting with bondholders on Wednesday to discuss extensions for repaying the bonds. An earlier proposal was rejected by bondholders. In the statements, Vanke proposed four plans to delay repayment. All of the plans involve extensions to different extents. One proposal seeks bondholders' approval to delay the repayment for 12 months. Another plan promises to pay bondholders 100,000 yuan, equivalent to $14,339, per account and repay 40% of the remaining principal before Jan. 28, while seeking a yearlong extension for the repayment of the remaining 60%. &#34;We think the options are more varied this time, but most choices still require material delay in principal payment by one year,&#34; Morningstar equity analyst Jeff Zhang said, adding that the outcome of negotiations with bondholders remains highly uncertain as most creditors are likely to push back and demand a higher amount of principal repayment within the next three months. &#34;Vanke is trying to get more time and delay the restructuring,&#34; said William Wu of Daiwa Securities. &#34;Vanke is losing its bellwether status in the industry.&#34; As one of China's largest real-estate companies, the company used to be considered an outlier among property developers that have undergone restructuring or liquidation since the yearslong downturn in China's property sector began. China Vanke's executive vice president resigned after reaching retirement age last week. Vanke's potential default is less significant compared with the systemic shocks in 2021, HSBC Global Research analysts wrote in a recent note. The company's market share in China shrank to 1.7% last year from 3.4% in 2021, they added. &#34;Overall, without meaningful improvement in property sales and liquidity, we expect Vanke to essentially default and seek holistic debt restructuring in 2026,&#34; Morningstar's Zhang said. <pre></pre> Write to Jiahui Huang at jiahui.huang@wsj.com <pre></pre> (END) Dow Jones Newswires January 15, 2026 03:23 ET (08:23 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

萬科企業

萬科A

萬科企業的股價上漲了 6.9%，因為該公司提出了四項新計劃以延遲逾期債券的償還。這些提案包括延長 12 個月和對債券持有人的部分支付。分析師對談判表示不確定，預計如果房地產銷售沒有改善，到 2026 年可能會出現違約和重組。萬科的市場份額顯著下降，公司在行業中的地位正在喪失。由於債券持有人的談判定於週三進行，情況仍然不穩定

萬科企業的股票因新的延遲債券償還提案而上漲