The state steps in to shield China Vanke from debt crunch
Default risks have receded at the embattled property developer after a state-backed support effort, but business recovery is still a long way off Key Takeaways: The head of the firm’s…
Country Garden’s debt restructure hinges on stabilizing property market
The debt-laden developer released two long-overdue financial reports last week after detailing a clearly defined debt restructuring plan Key Takeaways: Country Garden revealed it lost 12.84 billion yuan in the…
BRIEF: Two Country Garden directors resign from its board
Struggling property developer Country Garden Holdings Co. Ltd. (2007.HK) announced on Sunday that Su Baiyuan resigned from its board as an executive director on Nov. 1 due to job changes,…
BRIEF: Country Garden to sell remaining Zhuhai Wanda stake
After selling back 1.49% of Zhuhai Wanda's shares to Dalian Wanda last month, struggling property developer Country Garden Services Holdings Co. Ltd. (6098.HK) announced on Tuesday that it would sell…
Dalian Wanda digs its way out of rubble of failed property management IPO
The former real estate titan is negotiating new terms with pre-IPO investors after its Zhuhai Wanda property management unit missed a 2023 deadline to list in Hong Kong Key Takeaways:…
BRIEF: Country Garden’s sales plunge 57%, auditor resigns
Country Garden Holdings (2007.HK) disclosed on Thursday that its monthly contracted sales for August declined 57% year-on-year to 3.43 billion yuan ($483 million), with a gross floor area of about…
After earlier brushes with death, Greentown rebuilds with a stronger foundation
Despite falling sales in the first four months of the year, the property developer’s revenue was still much higher than many of its struggling rivals Key Takeaways: Greentown China reported…
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