On January 15th, the executive director, president, and chief executive officer of the Chinese real estate giant Vanke Group, Zhu Jiusheng, was taken away by the police.
Numerous sources informed journalists from Economic Observer Network of the above information on January 16th.
The media reporter tried calling Zhu Jiusheng’s mobile phone multiple times, but no one answered; they also sent text messages to inquire, but received no response. The reporter also tried contacting Vanke’s Board Secretary, Zhu Xu, who did not answer the phone or reply to messages.
The reporter even called Vanke’s headquarters office phone and, as per the staff’s request, sent an interview letter to the company’s media interview mailbox, but received no reply by the time of publishing.
Public information indicates that Zhu Jiusheng was born in 1969 and joined Vanke in 2012.
From 2012 to 2015, Zhu Jiusheng served as the Senior Vice President of Vanke, from 2016 to January 2018, he was the Chairman and General Manager of the joint venture company Shenzhen Pengding Chuangying Financial Information Service Co., Ltd. From January 31, 2018, he has been serving as the President and CEO of Vanke.
According to Vanke’s 2023 annual report, Zhu Jiusheng also serves as a non-executive director of E-House (China) Enterprise Holdings Limited; he has also served as a non-executive director of Huishang Bank Co., Ltd., an independent non-executive director of Lvjing (China) Real Estate Investment Co., Ltd., and a director of Shenzhen Kendal (Group) Co., Ltd.
On January 3rd, Vanke announced that for the full year of 2024, the company achieved a cumulative contracted sales area of 18.107 million square meters, a significant decrease of 26.57% year-on-year; the contracted sales amount was 246.02 billion yuan, a decrease of 34.59% year-on-year.
In addition, Vanke’s third-quarter report for 2024 showed that from January to September 2024, the revenue was 77.116 billion yuan, a decrease of 24.25% year-on-year; the net profit decreased by 231.73% year-on-year, leading to a loss of 8.09 billion yuan.