COUNTRY GARDEN WKN: A0MNX4 ISIN: KYG245241032 Kürzel: DZJ Forum: Aktien Thema: Hauptdiskussion

The Massive Scale of China’s Property Sector: The risks that follow as China’s largest real estate company wavers near default. Country Garden has 108.7 billion yuan of debt due in the next 12 months. Country Garden’s risk of default rings alarm bells because of its size; It was the sector’s largest company by attributable sales, 356.9 billion yuan in 2022. It has 3,121 projects at different development stages across Mainland China, both commercial and residential. https://www.reuters.com/graphics/CHINA-PROPERTY/SCALE/znpnzjdqapl/

Contagation spreads: "EC World REIT is in hot water. Its liquidity troubles led the REIT manager to call for a voluntary trading halt of its units. With financial issues mounting, the situation looks rather bleak for unit holders who are now left with no way to offload the units." https://thesmartinvestor.com.sg/what-we-can-learn-from-ec-world-reits-troubles/

China property: accelerating meltdown threatens other markets. A dollar bond of Country Garden, previously one of the safest large developers, fell below 10 cents on the dollar https://www.ft.com/content/790ceab3-3169-445f-aade-733daa50bb07

Traders Brace For China's Property Slump To Drag For Years. A multi-year property downturn looks increasingly likely as a raft of rescue measures have fallen flat. Disappointing home sales in China’s largest cities suggest policy supports have failed to turn around buyer sentiment. New home sales for the first two weeks of September in tier-one cities fell from August’s levels. https://www.zerohedge.com/markets/traders-brace-chinas-property-slump-drag-years

China property crisis holds Singapore, Hong Kong REITs back Asia's real estate shares suffer doldrums as investors tread cautiously https://asia.nikkei.com/Spotlight/Market-Spotlight/China-property-crisis-holds-Singapore-Hong-Kong-REITs-back

China's Country Garden woes raise fears of REIT defaults - J.P.Morgan https://www.reuters.com/markets/asia/jpm-warns-higher-risk-chinese-reits-after-country-gardens-troubles-2023-08-14/

Real estate concerns hit Chinese shares https://www.investing.com/news/stock-market-news/asian-stocks-dip-china-slides-on-property-market-jitters-3181294

Even China's 1.4 billion population can't fill all its vacant homes, former official says https://www.reuters.com/world/china/even-chinas-14-bln-population-cant-fill-all-its-vacant-homes-former-official-2023-09-23/

China Evergrande scraps creditor meetings in risk to US$20 billion debt restructuring as homes sales sag, lawsuits snowball. Troubled developer has cancelled meetings scheduled for September 25 and 26, citing weaker than expected sales and need to reassess restructuring terms. https://www.scmp.com/business/china-business/article/3235561/china-evergrande-scraps-creditor-meetings-risk-us20-billion-debt-restructuring-homes-sales-sag

China property crisis: Country Garden faces reckoning as sluggish economy, bets on smaller cities unravel. Beleaguered Country Garden faces US$14.9 billion in debt maturity in the next year, as it tries to avoid becoming latest Chinese developer to default. https://www.scmp.com/business/china-business/article/3235418/china-property-crisis-country-garden-faces-reckoning-sluggish-economy-bets-smaller-cities-unravel

Moody's: Ongoing real estate sector weakness raises credit risks for banks in China and Vietnam https://www.moodys.com/

EPRA Emerging Markets Report: "The free float market cap of the FTSE EPRA Nareit China Emerging Markets Index stood at EUR 44.8 billion at the end of June 2023, a decrease of over EUR 10 billion (y-o-y). This could be explained by China’s persistent property crisis, which has affected many of the constituents in the region." https://prodapp.epra.com/media/Emerging_Report_-_2023_Final_1692604722323.pdf

Miese Stimmung am Markt: "China meiden": Chinas Immosektor beschleunigt die Abkopplung vom Rest der Welt https://www.boersennews.de/nachrichten/artikel/miese-stimmung-am-markt-china-meiden-chinas-immosektor-beschleunigt-die-abkopplung-vom-rest-der-welt/4215651/

Warum Chinas größter Immobilienkonzern mit seinen Plänen für eine 100-Milliarden-Tropenstadt scheitert https://www.businessinsider.de/wirtschaft/chinas-groesster-immobilienkonzern-scheitert-mit-100-milliarden-planstadt/

Country Garden Leaves Bondholders in Dark as Interest Unpaid https://www.bloomberg.com/news/articles/2023-09-19/country-garden-wins-approval-to-extend-yuan-bond-with-sweetener

Chinas Immobilienträume platzen: Finale in Forest City https://www.faz.net/aktuell/wirtschaft/unternehmen/chinas-immobilientraeume-platzen-der-niedergang-von-forest-city-19183296.html