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15 Apr China property: Beijing needs US$2.1 trillion to revive sector as rescue plans have not been good enough, Goldman says

Posted at 11:30h in Asia

China’s housing market has further room to weaken as efforts to revive the sector have not gone far enough to arrest a three-year slump, according to Goldman Sachs. The government may need to spend more than 15 trillion yuan (US$2.1 trillion) to fix the problems...

29 Mar China Vanke boss acknowledges ‘pressure’ as 2023 profits slump amid liquidity distress rumours

Posted at 04:33h in Asia

Net profit came in at 12.16 billion yuan (US$1.7 billion) versus 22.68 billion yuan in the same period of 2022, according to a filing by Vanke made to the Hong Kong stock exchange on Thursday night.Core profit, which excludes the impact of foreign exchange and...

25 Mar Embattled Chinese developer Shimao seeks offshore investors’ approval to restructure US$11.7 billion debt

Posted at 15:10h in Asia

Embattled Chinese property developer Shimao Group Holdings is seeking to restructure offshore debt worth US$11.7 billion.The Shanghai-based firm is seeking approval from offshore creditors for a restructuring plan, according to a filing made to the Hong Kong stock exchange late on Monday, as part of...

22 Mar Chinese developer Longfor’s 50% profit slump reflects the poor state of housing market

Posted at 10:57h in Asia

Chinese property giant Longfor Group reported a near 50 per cent slump in net profit for last year, while revenue from home sales plunged because of the sluggish housing market.Net profit came in at 12.85 billion yuan (US$1.8 billion) in 2023, compared with 24.36 billion...

19 Mar Debt-stricken Sino-Ocean warns of hefty losses amid plunge in home sales as turnaround eludes Chinese developers

Posted at 08:07h in Asia

Debt-stricken Chinese developer Sino-Ocean Group said it is likely to report another year of hefty losses in 2023 as home sales in mainland China plunged, signalling no immediate turnaround in the nation’s three-year industry slump.The firm expects to incur a loss of 20 billion yuan...

05 Mar Country Garden reports major slump in China home sales, triggering fresh alarm for creditors amid debt restructuring

Posted at 04:30h in Asia

Country Garden Holdings said home sales plunged last month to a multi-year low, raising fresh alarm about its financial distress even as the mainland Chinese developer fends off hostile creditors in Hong Kong and seeks forbearance on more than US$10 billion in offshore debt.The firm,...

15 Jan Distressed Chinese builder Logan aims to cut leverage by US$3 billion as some creditors consent to US$8 billion debt workout plan

Posted at 00:00h in Asia

Distressed Chinese developer Logan Group has pledged to trim its debt level to align with the size of its business, after winning approval from some offshore creditors and its controlling owner to reorganise almost US$8 billion of debts.The Shenzhen-based developer aims to reduce its...

Chinese developer Tag

15 Apr China property: Beijing needs US$2.1 trillion to revive sector as rescue plans have not been good enough, Goldman says

29 Mar China Vanke boss acknowledges ‘pressure’ as 2023 profits slump amid liquidity distress rumours

25 Mar Embattled Chinese developer Shimao seeks offshore investors’ approval to restructure US$11.7 billion debt

22 Mar Chinese developer Longfor’s 50% profit slump reflects the poor state of housing market

19 Mar Debt-stricken Sino-Ocean warns of hefty losses amid plunge in home sales as turnaround eludes Chinese developers

05 Mar Country Garden reports major slump in China home sales, triggering fresh alarm for creditors amid debt restructuring

15 Jan Distressed Chinese builder Logan aims to cut leverage by US$3 billion as some creditors consent to US$8 billion debt workout plan

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