by Amruth Sundarkumar | Sep 22, 2022 | China, Financial Institutions
China’s big-4 asset management companies (AMCs) were downgraded by S&P upon challenging operating conditions due to China’s economic slowdown, market volatility and property sector troubles. Due to this S&P sees weakened earnings prospects. The...
by Amruth Sundarkumar | Aug 30, 2022 | China, Corporates
China’s state-owned distressed debt managers China Huarong and China Cinda posted muted earnings for 1H 2022 on rising credit impairments and the crisis in the real estate sector. Huarong reported a loss of RMB 18.9bn ($2.7bn) vs. a profit of RMB 158.3mn ($22.9mn) in...
by Amruth Sundarkumar | Jun 9, 2021 | China
China Great Wall AMC’s VP Hu Xiaogang is being probed on suspicion of corruption according to the anti-corruption watchdog Central Commission for Discipline Inspection. China Great Wall is one among four of China’s large distressed-debt asset managers. Mr. Hu was a...
by Amruth Sundarkumar | Jun 3, 2021 | China
Bonds of Chinese bad-debt asset management companies (AMCs) China Huarong Asset Management Co (CHAMC), China Cinda Asset Management Co, China Orient Asset Management Co and Great Wall Asset Management dropped further on Wednesday. Ever since Huarong’s delay in filing...
