Shimao

Economy 02/24/22, 17:00

According to Bloomberg, Shimao's dollar notes declined Thursday as the Chinese property developer's failure to make some trust payments, and its credit rating downgraded. Shimao's 4.75% notes due on July 3 lost 8.3 cents on the dollar to 56 cents.Last week, Shimao Group failed to negotiate an agreement to extend repayments ...

Economy 01/26/22, 12:43

Shanghai-based property developer Shimao is putting 34 projects on sale to deal with the liquidity crunch. The company went into default earlier this month on a loan after failing to make a 645 million yuan ($101 million) payment. Among the latest bid 26.7% of its stakes was in the Guangzhou Asian ...

China 12/22/21, 15:33

Shimao Group, a giant Chinese real estate group, has sold their stakes in a major project named Victoria Harbor in Hong Kong, according to Epoch Times. The deal was paid in cash, with an estimated loss of nearly $90 million.  Shimao Group is ranked 13th among China's real estate businesses with largest ...

China 12/18/21, 15:42

A company with more significant problems than Evergrande has come to the forefront. Media outlets quoted industry insiders saying that the Shanghai Shimao Group's crisis was worse than Evergrande's default. According to Bloomberg, although Shimao Group's balance sheet is less than one-third of Evergrande and its sales rank only at 13th among Chinese ...