China Vanke Co.,Ltd. has once again changed its leadership during a challenging period for the company.

On the morning of October 13th, China Vanke Co.,Ltd. issued an announcement confirming the appointment of Huang Liping as the new chairman. The board of directors agreed to elect Huang Liping as chairman of the 20th board of directors, with his term running from the date of board approval until the expiration of the 20th board term. Huang was also elected as the company's legal representative.

Born in 1968, Huang Liping earned his Bachelor's degree in Engineering from Tongji University in 1991 and his Master's degree in Engineering from the same institution in 1994. He currently holds the title of professor-level senior engineer.

According to public information, since 1994, Huang Liping has served in various positions at Shenzhen Engineering Investigation & Geotechnical Engineering Company, including engineer, deputy chief engineer, and chief engineer, accumulating early experience in the engineering and technology field.

In 1999, Huang joined Shenzhen Metro Group, gradually advancing from business supervisor and deeply participating in the construction and management of Shenzhen's rail transit lines. In August 2014, he began serving as deputy general manager and party committee member of Shenzhen Metro Group. Four years later, he was transferred to serve as deputy party secretary, director, and general manager of Shenzhen Talent Housing Group Co., Ltd., expanding his management experience in housing security projects.

In February 2021, Huang returned to Shenzhen Metro Group as deputy party secretary, director, and general manager, comprehensively overseeing the group's daily operations and management. Additionally, in June of the same year, Huang joined China Vanke as a group director, was re-elected as a non-independent director the following year, and also serves as a member of the audit committee.

The market was not surprised by Huang Liping's appointment.

Several days earlier, media reports emerged claiming that Xin Jie, who was serving as party secretary and chairman of Shenzhen Metro Group and chairman of China Vanke Group, had lost contact. Related reports indicated that he was taken away during a meeting in Shenzhen on September 18th.

The announcement also addressed Xin Jie's situation, stating that China Vanke's board of directors received Xin Jie's written resignation letter on October 12th. "Due to personal reasons, Xin Jie applied to resign from his positions as company director and chairman, and will no longer hold any position in the company after his resignation."

From his arrival to departure, Xin Jie held the top position at China Vanke for less than 9 months.

In January this year, Shenzhen Metro Group fully took control of China Vanke, leading to changes in the latter's core management team. Xin Jie was elected as China Vanke's board chairman, and among the four newly appointed executive vice presidents, except for Yu Liang, the other three positions were filled by external candidates.

At that time, China Vanke explained these personnel changes in an announcement, stating: "Due to the significant loss amount in the 2024 performance forecast, the group encountered phased liquidity difficulties. To effectively resolve risks and protect the interests of homebuyers, creditors, and investors, the board decided to strengthen the group's operational and management capabilities, utilize the resource advantages of major shareholder Shenzhen Metro Group Limited and other parties, further focus on core business, accelerate financing model transformation, and better promote the group's steady operation and sustainable development."

Subsequently, China Vanke launched a series of reform measures.

After the leadership team with state-owned background led by Xin Jie took office, Shenzhen Metro Group's support for China Vanke became increasingly direct, shifting from taking over projects to providing direct loans for repaying maturing debts.

According to media statistics, since the first loan provision on February 10th, Shenzhen Metro Group has successively provided nearly 26 billion yuan in shareholder loans to China Vanke, with interest rates as low as 2.34%, to support China Vanke in repaying maturing debts. Half-year report data shows that China Vanke fully honored all public debt payments in the first half of the year, with no overseas public debt maturing before 2027.

Additionally, in September this year, China Vanke's official website updated its organizational structure and management team chart, marking the official implementation of the long-prepared organizational restructuring.

The new structure formed a new framework of "Group Headquarters, Regional Companies, and Business Divisions." The group headquarters consists of 13 functional departments including the Board Office, Group Office/Party Affairs Department, Investment Development Center, and Audit and Supervision Center. The business divisions encompass eight diversified businesses including property management, commercial and hotel, long-term rental apartments, and logistics.

Moreover, China Vanke's original Development and Operations Headquarters was completely dissolved, transitioning from the "5+2+2" structure (5 regional companies, 2 general companies, 2 directly managed companies) to 16 regional companies directly managed by headquarters, shifting from the traditional three-tier structure to two-tier control with more centralized management decisions at headquarters.

In the first half of this year, China Vanke achieved revenue of 105.3 billion yuan, with comprehensive residential business sales revenue approaching 70 billion yuan, and multiple projects achieving over 90% sell-through rates upon launch. During the reporting period, China Vanke generated nearly 10 billion yuan through inventory optimization and new capacity additions, with asset monetization bringing in nearly 6 billion yuan in cash flow. Since 2023, the company has monetized approximately 78.5 billion yuan in asset value, cumulatively achieving over 20 billion yuan in additional sales.

After the leadership change, China Vanke's main work direction remains unchanged. Industry insiders point out that the new chairman, being appointed from existing board members who are familiar with company operations, is conducive to work continuity and stability. Individual management adjustments will not affect the enterprise's reform and risk mitigation process.