Property developer China Aoyuan saw its dollar bonds fall around 3% yesterday. While no particular news has come out, its dollar bonds have been trending lower since late March when its results were announced. Revenues were short of expectations by 7% at CNY68bn ($10.4bn). Analysts estimate revenues at CNY87.4bn ($13.3bn) in 2021, which would show a 29% increase YoY. Bloomberg reports that an emailed statement from Aoyuan’s IR department said that the company isn’t “aware of any reason that might lead to the decline in bond prices.”
China Aoyuan’s Dollar Bonds Trend Lower
