Vanke Elects New Board at 2026 EGM; Xu Enli Appointed Chairman
Vanke held its first extraordinary general meeting of 2026 on July 31, electing a new 21st board and appointing Xu Enli as chairman, succeeding Huang Liping, who remains a director. Huang Yu was reappointed president. The meeting also set next-phase priorities, including loss reduction, asset revitalization and debt management. In the first half of 2026, Vanke delivered about 23,000 homes with a handover acceptance rate above 90%, revitalized over RMB 15 billion in inventory value, and mitigated risk on 10 public bonds. Controlling losses remains a core 2026 objective.
On July 31, Vanke held its first extraordinary general meeting of 2026, approving resolutions on board renewal and electing the 21st board of directors. Huang Liping, Huang Yu, Lei Jiangsong, Xu Enli, Yao Fei and Zhu Zhiqiang were elected non-independent directors; Huang Yaying, Liao Zibin, Wang Weiguo and Yang Zhao were elected independent directors. At the new board's first meeting held the same day, Xu Enli was elected chairman and Huang Yu was reappointed president. Huang Liping stepped down as chairman but remained on the 21st board.
On the new board, apart from Huang Liping and Huang Yu, Lei Jiangsong is a party committee member and deputy general manager of Shenzhen Metro Group; Yao Fei is a party committee member and deputy general manager of Shenzhen Investment Holdings; and Zhu Zhiqiang is deputy party secretary, director and general manager of Shenzhen Capital Operations Group. All three companies are institutions within Shenzhen's state-owned assets system. Vanke's executive vice presidents and board secretary remain the same incumbents in place since early 2025: executive vice presidents Li Feng, Hua Cui and Li Gang, executive vice president and chief financial officer Han Huihua, and board secretary Tian Jun.
New chairman Xu Enli, 51, holds a master's degree in management and the title of senior engineer. From 2020 to 2024, he served as a party committee member and deputy general manager of Shum Yip Group, concurrently serving as party secretary and chairman of Shum Yip Land and Shum Yip Commercial Management. From November 2024 to July 2026, he was party secretary and chairman of Shenzhen Expressway Group, and joined Vanke in early July 2026. New president Huang Yu took up his post at the same time; he previously served as deputy director of the Office of the Financial Committee of the Shenzhen Municipal Party Committee and deputy director of the Municipal Local Financial Administration. Before the board renewal, Huang Liping had already assumed the roles of party secretary and chairman of Shenzhen Metro Group.
Controlling and reducing losses remain a core operating objective for 2026. In the first half of 2026, Vanke's development business delivered approximately 23,000 homes, with an overall handover acceptance rate above 90% during the concentrated delivery period. Through various measures, it revitalized inventory value exceeding RMB 15 billion, and 10 public bonds completed risk mitigation through partial repayment combined with extension arrangements.
Vanke set out its next-stage work directions at the shareholders' meeting: on the operating side, optimize asset structure and quality and improve city and project layouts by revitalizing existing assets; on the debt side, focus on stabilizing existing financing, orderly mitigate maturing repayment pressure, explore diversified market-based solutions, and advance debt optimization in light of actual conditions.