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, 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 ($5.49 billion) 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.

($1 = 6.8360 Chinese ‌yuan renminbi)

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