China Vanke Faces Turmoil as Leadership Steps Down Amid Record Loss Forecast
China Vanke, one of the nation’s prominent property developers, announced that its Chairman, Yu Liang, and CEO, Zhu Jiusheng, have stepped down as the company projected a record $6.2 billion net loss for 2024. The announcement has heightened concerns about the company's liquidity, which has been under increasing scrutiny. Yu...