TOPIC

/ company

Shimao Property Holdings

People passed a Country Garden development in Foshan, China. Photo: Bloomberg

Major Chinese developers see sales uptick in September bolstered by stimulus

Analysts question sustainability of gains given uncertainty surrounding the government’s plans for future stimulus.

16 Oct 2024 - 9:09AM

Shimao’s losses widen 90% as China’s property slump shows no recovery in sight

30 Aug 2024 - 11:25AMvideocam

Shimao gets second reprieve, winning 2 weeks for debt workout

31 Jul 2024 - 6:16PM

Troubled Chinese developers face unprecedented wave of liquidation suits

A worsening macroeconomic environment is prompting offshore creditors to hasten restructuring efforts, triggering a surge in lawsuits as declining property sales erode asset values, according to industry experts.

1 Jul 2024 - 9:00AMvideocam

The property sector has been at the forefront of bond defaults in China since the introduction of Beijing’s ‘three red lines’ policy in 2020. Photo: Bloomberg

Shimao is latest developer to see sales rise since China’s property stimulus

Shimao has become the latest Chinese home builder to report higher property sales aided by Beijing’s stimulus package aimed at reviving its crisis-hit real estate sector.

7 Jun 2024 - 8:24PMvideocam

Debt-laden China Vanke sells plot of land once earmarked for HQ at huge loss

China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.

28 May 2024 - 1:19PMvideocam

Embattled Shimao faces rare winding-up petition from Chinese state-owned bank

Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

8 Apr 2024 - 12:23PMvideocam

Shimao has urged its offshore creditors to ‘carefully consider’ a restructuring plan put forward on March 25. Photo: Reuters

Shimao seeks offshore investor approval to restructure US$11.7 billion debt

The Shanghai-based firm is seeking approval from offshore creditors for a restructuring plan, according to a filing made to the Hong Kong stock exchange late on Monday, as part of its latest efforts to avoid liquidation.

25 Mar 2024 - 11:38PMvideocam

No takers for defaulted Chinese developer Shimao’s distressed asset

Investors remain bearish about China’s embattled property sector as the weakening economy and elevated default rates sours risk appetite.

5 Jul 2023 - 2:59PM

UOB sues China’s distressed developer Shimao over loan terms

Shimao, China’s 22nd biggest developer by sales in the first half, was once considered one of the country’s stronger developers, but had been trading at distressed levels in the dollar bond market for months now.

28 Jul 2022 - 3:54PM

Where are the white knights in China’s US$1.7 trillion property sector?

Anxious to avoid the civil unrest that would almost certainly follow a collapse in the housing market, local authorities are relaxing their stranglehold on the property sector. But will it be enough?

22 May 2022 - 1:22PMvideocam

China’s new home prices rise at a slower pace in April

China’s April new home prices grew at a slightly slower pace from a month earlier as lockdown kept homebuyers away.

4 May 2022 - 7:00PMvideocam

Two firms quit auditing China’s developers amid Covid-19 controls

The resignations may reignite concerns about the financial transparency and accountability of China’s highly leveraged property developers, with US$33 billion of debt maturing offshore, according to Fitch Ratings.

30 Apr 2022 - 5:00PM

Property sales at Shimao Group’s subsidiary sink 62 per cent in February

Shanghai Shimao’s slump in contracted sales piles further pressure on parent Shimao Group Holdings, which faces US$3.2 billion of debt repayments this year.

8 Mar 2022 - 4:30PM

Shimao Group Holdings faces US$3.2 billion of debt payments this year. Photo: Bloomberg

Which indebted moguls will feel the most heat at China’s ‘Two Sessions’?

Six of the 13 property chairmen attending the meetings will be representing developers that have either officially defaulted on their debts or have asked creditors for more time.

7 Mar 2022 - 6:05PM

The Great Hall of the People, venue for the National People’s Congress (NPC), in Beijing. Photo: AFP

Evergrande crisis: debt exchanges, waivers grow as stimulus hopes dashed

Zhenro and Jingrui are seeking to delay repayment on US$1.2 billion of bonds maturing in March. They are also seeking default waivers on a long list of bonds to stave off a chain of cross-default events.

25 Feb 2022 - 9:14AMvideocam

Shimao seeks buyers for some 40 projects valued at over US$12 billion

Shimao Group Holdings is seeking buyers for nearly 40 projects to shore up liquidity, as 20 billion yuan (US$3.1 billion) of bond repayments loom this year.

14 Feb 2022 - 7:35PM

Is China’s financial lifeline strong enough for indebted developers?

Beijing may be preparing to loosen some of its restrictive measures that have constrained borrowing by property developers, but the beleaguered housing sector could face more pain in the coming months as sentiment remains challenged.

5 Feb 2022 - 10:00AMvideocam

China’s indebted developers get a break from rate cuts and easing

Lower loans rate gives developers much-needed relief, while a cheaper mortgage rate attracts buyers and rekindles transactions in a property market that has gone into deep freeze after five years of clampdown.

20 Jan 2022 - 6:52PM

China drafts rules to give developers more access to escrow funds

The new rules would help developers meet debt obligations, pay suppliers and finance operations by letting them use the funds in escrow that are controlled by municipal governments with no central oversight.

20 Jan 2022 - 1:31AMvideocam

World’s priciest office tower gets broken up again as debts loom

Shimao is seen as one of China’s more conservative borrowers, in a property industry where most developers rely on bank loans to finance their land purchases and constructions, amid a tight cap on prices and sales.

18 Jan 2022 - 7:27PM

Exterior view of The Center building in Hong Kong’s Central area on 2 November 2017. Photo: Nora Tam

Shimao Group’s Shanghai unit defaults on US$101m project loan

The start of 2022 has been turbulent for Chinese developers as mountains of debt come to maturity, adding to their financial woes.

7 Jan 2022 - 4:05PMvideocam

Shimao Group’s share price plunged as much as 17 per cent on Friday morning. Photo: Shutterstock

Australian co-working firm exits Hong Kong, closes The Center location

Melbourne-headquartered Victory closed its 25,000 sq ft space on the 76th floor of The Center last week.

22 Dec 2020 - 1:29PMvideocam

China’s home builders turn to ‘butler’ services to boost revenue

As the threat of Covid-19 infection keeps more people indoors, indebted developers are increasingly relying on the so-called butler services of their property management units to bring in some much-needed cash.

4 Nov 2020 - 11:25AMvideocam

History, location to benefit Ningxia as New Silk Road comes to town

A stop on the ancient Silk Road, the tiny province in northern China aims to once again become an important link with Middle Eastern economies.

25 Apr 2019 - 9:57PM

China’s Ningxia Hui autonomous region was one of the country’s smallest economies last year, and will benefit from Beijing’s Belt and Road Initiative. Photo: Xinhua

Shimao heir apparent ditches cookie cutter for landmark buildings

After turning an abandoned quarry in Shanghai into the InterContinental Shanghai Wonderland Hotel, Jason Hui Sai-tan has set his sights on what is expected to be China’s tallest building, a 700-metre office tower in Shenzhen.

7 Apr 2019 - 9:32PM

The InterContinental Shanghai Wonderland Hotel. Between its launch on November 20, 2018 and end of last year, the hotel generated 32 million yuan in revenue. Photo: Xinhua

Nervous Hong Kong homebuyers forfeit deposits to get out of deals

Buyers are starting to have second thoughts on flats, which some analysts say could signal a turn of sentiment in a market that has become used to ever-growing prices, cheap loans and stiff competition for tight supply

17 Aug 2018 - 11:28PM

Owners of world's priciest office tower say new tenants will pay even more

New owners of The Center say they want new tenants who will pay higher rents when global investment bank Goldman Sachs’ lease expires in December.

5 Apr 2018 - 11:23PM

Help preserve 120 years of quality journalism.

SUPPORT NOW

Shimao Property Holdings

Shimao Property is a Chinese real estate group with a portfolio of residential, commercial and hotel properties. As of August 2012, it had approximately 70 projects at different stages of development in more than 34 cities, including Beijing, Shanghai and Guangzhou.

Chairman / President

Hui Wing Mau

CEO / Managing Director

Jason Hui Sai-tan

CFO / Finance Director

Pan Dongliang

Industry

Real Estate

Website

shimaogroup.com

Headquarters address

39/F, Tower 1, China Central Place, 81 Jianguo Road, Chaoyang District, Beijing, China

Stock Code

SEHK:0813

Year founded

2001

last updated:

30 September, 2024