Meltdown Seen Across Chinese Property Dollar Bonds after Evergrande and Fantasia Incidents
Chinese real estate developers’ dollar bonds saw carnage yesterday after Fantasia’s default. What started as a drop in investor sentiment towards the sector beginning with the systemic impact of Evergrande, has now translated into a domino-effect with most...
Golden Wheel Reports 89% Drop in H1 Gross Profits
Chinese developer Golden Wheel Tiandi reported an 89% YoY drop in gross profits to RMB 13.3mn ($2.06mn) for 1H2021 with its gross margins falling massively from 29.1% to a mere 1.1%. The company attributed the poor results to its gross loss generated from the sale of...
Other Chinese Developers’ Dollar Bonds Move Further Lower
Dollar bonds of Chinese HY developers dropped again yesterday. Besides Evergrande, Fantasia and Sunac, those of Kaisa, Greenland Holdings, Golden Wheel Tiandi and Xinyuan Real Estate fell 3-4% as concerns over the property market continues to weigh on these bonds....
