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. China
  4. Shenzhen Stock Exchange
  5. Yango Group Co.,Ltd
  6. News
  7. Summary
    000671   CNE000000206

YANGO GROUP CO.,LTD

(000671)
  Report
End-of-day quote Shenzhen Stock Exchange  -  2022-11-24
2.140 CNY   +3.88%
11/13China's 'most comprehensive' rescue package for property sector lifts stocks, bonds
RE
10/27Hong Kong Court Issues Winding Up Order to Yango Group Unit
MT
10/26Yango Group Co., Ltd Reports Earnings Results for the Nine Months Ended September 30, 2022
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Greenland, Yango get state support as Beijing steps up efforts to appease irate home buyers

08/07/2022 | 10:08pm EST
Sign of Greenland Holdings Corp. Ltd. is seen on its building in Beijing

SHANGHAI (Reuters) - China's Greenland Holdings Corp said a unit has secured loans from state-owned shareholders and the parent of Yango Group signed a debt relief agreement with a state-backed bad loan company, as the government steps up efforts to aid the country's struggling real estate sector.

Amid a wave of buyers refusing to make mortgage payments on delayed housing projects, Beijing last month vowed to increase support to private developers and ensure buyers can take delivery of their homes.

Shares in Yango jumped by their daily limit of 10% in early Monday trade, while Greenland gained roughly 4%.

Chinese media also separately reported that Zhengzhou, the capital city of central Henan province, plans to set up a 10 billion yuan ($1.5 billion) fund to tackle social and financial problems.

Greenland said in a statement on Monday that a subsidiary plans to borrow a combined 3 billion yuan from two state-owned shareholders. The two-year loans, with an annual interest rate of 6%, would help maintain ample liquidity, and help the company's efforts to sure the smooth handing over of homes, it said.

China Huarong Asset Management, a major bad loan company, said in a statement that it has recently signed a framework agreement with Yanggo Longking Group to restructure its debt. Yanggo Longking is the parent of cash-strapped developer Yango Group.

The move is a concrete step by the Chinese government to defuse risks in the real estate market and reinvigorate Yango, Huarong said.

($1 = 6.7607 Chinese yuan)

(Reporting by Samuel Shen and Brenda Goh; Editing by Edwina Gibbs)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHINA HUARONG ASSET MANAGEMENT CO., LTD. 5.97% 0.355 Delayed Quote.-65.20%
GREENLAND HOLDINGS CORPORATION LIMITED 6.44% 3.14 End-of-day quote.-20.41%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.31% 7.189 Delayed Quote.13.10%
YANGO GROUP CO.,LTD 3.88% 2.14 End-of-day quote.-29.14%
All news about YANGO GROUP CO.,LTD
11/13China's 'most comprehensive' rescue package for property sector lifts stocks, bonds
RE
10/27Hong Kong Court Issues Winding Up Order to Yango Group Unit
MT
10/26Yango Group Co., Ltd Reports Earnings Results for the Nine Months Ended September 30, 2..
CI
08/30Yango Group Co., Ltd Reports Earnings Results for the Half Year Ended June 30, 2022
CI
08/24Yango Group Co., Ltd Announces Executive Appointments
CI
08/08China stocks tepid as COVID, geopolitical tensions weigh
RE
08/08China stocks tepid as COVID, geopolitical tensions weigh
RE
08/07Greenland, Yango get state support as Beijing steps up efforts to appease irate home bu..
RE
07/26Yango Group Unit Faces Winding-Up Petition
MT
07/20Over Half of Chinese Property Developers Warn of Losses in H1
MT
More news
Analyst Recommendations on YANGO GROUP CO.,LTD
More recommendations
Financials
Sales 2022 38 567 M 5 378 M 5 378 M
Net income 2022 -3 812 M -532 M -532 M
Net Debt 2022 - - -
P/E ratio 2022 -2,33x
Yield 2022 -
Capitalization 8 808 M 1 228 M 1 228 M
Capi. / Sales 2022 0,23x
Capi. / Sales 2023 0,21x
Nbr of Employees 9 848
Free-Float 50,3%
Chart YANGO GROUP CO.,LTD
Duration : Period :
Yango Group Co.,Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends YANGO GROUP CO.,LTD
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 2
Last Close Price 2,14 CNY
Average target price 2,32 CNY
Spread / Average Target 8,41%
EPS Revisions
Managers and Directors
Ni Chen VP, Chief Financial & Accounting Officer
Teng Jiao Lin Chairman
Jie Wu Chairman-Supervisory Board
Jing Dong Liu Independent Director
Xiao Ma Lu Independent Director