(Yicai) June 17 -- Shares of China Vanke fell after the troubled property developer said it secured CNY4.1 billion (USD565 million) from Postal Savings Bank of China, which was the seventh bank loan it got in less than one month.

Vanke [SHE: 000002] was trading down 3 percent at CNY7.70 (USD1.06) as of lunch break in Shenzhen today.

The loan is divided into two tranches, the Shenzhen-based company announced on June 14. The first one is a three-year loan with a CNY1.6 billion principle issued to Vanke with the rights of a project owned by its unit in Xuzhou as pledges. The second one is a three-year loan with a CNY2.5 billion principle issued to Vanke with the rights of a project under construction owned by its unit in Xi'an as pledges.

Vanke's total value of the pledges is about CNY48.8 billion (USD6.7 billion), accounting for nearly 20 percent of the company's unaudited net assets at the end of last year.

On May 10, Vanke announced it got a three-year CNY1.3 billion from PSBC. Three days later, the firm said it had applied for loans totaling CNY7.3 billion from Bank of China, Agricultural Bank of China, and Bank of Beijing. On May 20, it got a CNY1.2 billion loan from BOC.

Moreover, Vanke said on May 23 that it had obtained a syndicated loan worth CNY20 billion from financial institutions such as China Merchants Bank, marking the largest single loan for a Chinese real estate developer since 2020.

Vanke's liabilities totaled CNY1.1 trillion (USD151.8 billion) as of Dec. 31, according to its latest annual report. Interest-bearing liabilities due within one year amounted to CNY62.4 billion, accounting for almost 20 percent of the total.

Chairman Yu Liang said during a shareholder meeting on April 30 that the firm would withdraw from non-core businesses to focus on its three key areas: developing new homes, rental housing, and property management. Vanke's other businesses include hospitality, logistics, and warehousing, according to its website.

Editor: Futura Costaglione