Vanke shareholder Shenzhen Metro says Xin Jie no longer serves as chairman

Shenzhen Metro, the biggest shareholder and a major financial backer of troubled property developer China Vanke (2202), said in a filing on Wednesday that Xin Jie no longer served as its chairman.

• The public transit operator did not provide any explanation for the personnel change, and said the chairman position had not been filled yet.
• Xin resigned as chairman of Vanke in October last year.
• State-owned Shenzhen Metro reported a net loss of 37.51 billion yuan for 2025, widening from the 33.57 billion yuan loss for the previous year, a separate filing to the Shenzhen Stock Exchange showed on Wednesday.
• Shenzhen Metro said in the filing that its 2025 loss was mainly due to Vanke's losses, which led the state-owned firm to book investment and impairment losses.
• Vanke posted a net loss of about 88.6 billion yuan for 2025 and 6.0 billion yuan for the first quarter.

Reuters

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