Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. Shimao Group Holdings Limited
  6. News
  7. Summary
    813   KYG810431042

SHIMAO GROUP HOLDINGS LIMITED

(813)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-03-31 am EDT
4.420 HKD   -2.21%
11/10Shimao Group Holdings Logs Over $1.1 billion in October Contracted Sales
MT
11/10Shimao Group Holdings Limited Reports Unaudited Group Contracted Sales Results for the Month and Ten Months Ended 31 October 2022
CI
11/01Innovent Biologics Records $151 Million in Q3 Revenue
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies
Days
:
Hours
:
Minutes
:
Seconds

Homebuyers threaten to stop paying mortgagees for unfinished projects - reports

07/13/2022 | 04:46am EST
FILE PHOTO: A general view of residential buildings in Hong Kong

HONG KONG (Reuters) - A growing number of homebuyer groups across the country wrote to local regulators and banks that they will stop repaying mortgages as a protest against unfinished developments, local media reported.

According to real estate news outlet Leju, as of Tuesday afternoon such letters have been issued for at least 14 developments involving 46,000 homebuyers and 35 billion yuan ($5.21 billion) worth of properties.

In separate report on Wednesday, Leju cited an unverified list of 84 developments circulating online.

The homebuyers, who bought the properties in pre-sales many years ago, were not able to take them over many months after the scheduled dates as the developers failed to make progress or complete the construction.

Many of these developments are in lower-tier cities and owned by distressed developers including China Evergrande Group, China Aoyuan Group, Sinic Holdings and Shimao Group.

Evergrande declined to comment. Aoyuan, Sinic and Shimao did not respond to Reuters' request for comment.

In the letters posted online, the homebuyer groups blamed local commercial banks for improperly granting mortgage loans to developers and insufficient oversight of the escrow accounts, resulting in misuse of funds and construction suspension by developers.

The letters added the homebuyers will cease mortgage payments unless developers and commercial banks take action to resume construction.

The news deepened worries over the debt crisis in the sector, further dragging down the property shares listed in Hong Kong on Wednesday. Country Garden and CIFI Holdings closed down over 8% and 13%, respectively.

($1 = 6.7201 Chinese yuan renminbi)

(Reporting by Clare Jim; Editing by Tomasz Janowski)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA AOYUAN GROUP LIMITED 0.00% 1.18 Delayed Quote.-16.31%
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
CIFI HOLDINGS (GROUP) CO. LTD. -4.00% 1.2 Delayed Quote.-72.72%
COUNTRY GARDEN HOLDINGS CO. LTD. -4.92% 2.9 Delayed Quote.-57.80%
LEJU HOLDINGS LIMITED 4.29% 1.46 Delayed Quote.-83.86%
SHIMAO GROUP HOLDINGS LIMITED -2.21% 4.42 Delayed Quote.-13.33%
SINIC HOLDINGS (GROUP) COMPANY LIMITED -87.01% 0.5 Delayed Quote.-87.80%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.01% 7.14374 Delayed Quote.12.40%
All news about SHIMAO GROUP HOLDINGS LIMITED
11/10Shimao Group Holdings Logs Over $1.1 billion in October Contracted Sales
MT
11/10Shimao Group Holdings Limited Reports Unaudited Group Contracted Sales Results for the ..
CI
11/01Innovent Biologics Records $151 Million in Q3 Revenue
MT
10/14Shimao Group Logs $9 Billion in January-September Contracted Sales
MT
10/14Shimao Group Holdings Limited Announces Unaudited Group Contracted Sales Results for th..
CI
10/14Analysis-Chinese property developers on tenterhooks ahead of Communist Party Congress
RE
10/14Shimao Group to Offload 45% of Nanjing, China Mixed-Use Project for $244 Million
MT
10/06Shimao Group Secures $1.3 Billion Bank Loan
MT
10/03Shimao hires firms to conduct independent probes amid restructuring push
RE
09/19Shimao Group Holdings Limited(SEHK:813) dropped from ..
CI
More news
Analyst Recommendations on SHIMAO GROUP HOLDINGS LIMITED
More recommendations
Financials
Sales 2021 138 B 21 742 M 21 742 M
Net income 2021 10 044 M 1 584 M 1 584 M
Net Debt 2021 96 292 M 15 188 M 15 188 M
P/E ratio 2021 1,33x
Yield 2021 17,4%
Capitalization 13 576 M 2 147 M 2 141 M
EV / Sales 2021 0,80x
EV / Sales 2022 0,84x
Nbr of Employees 30 418
Free-Float 36,1%
Chart SHIMAO GROUP HOLDINGS LIMITED
Duration : Period :
Shimao Group Holdings Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 8
Last Close Price 3,58 CNY
Average target price 4,80 CNY
Spread / Average Target 34,0%
EPS Revisions
Managers and Directors
Sai Tan Hui Vice Chairman & President
Wing Mau Hui Chairman
Hong Bing Lyu Independent Non-Executive Director
Ching Kam Lam Independent Non-Executive Director
Tze Wa Fung Independent Non-Executive Director