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Sunac China Holdings ( (HK:1918) ) has issued an update.
Sunac China Holdings Limited announced the receipt of a winding-up petition filed by China Cinda (HK) Asset Management Co., Limited due to non-repayment of a US$30 million loan. The petition could lead to other creditors demanding accelerated payments or enforcement actions. However, Sunac believes the petition will not significantly affect its operations at this stage. The company plans to oppose the petition vigorously but warns shareholders about potential complications regarding share transfers during the winding-up proceedings.
More about Sunac China Holdings
Sunac China Holdings Limited is a property development company incorporated in the Cayman Islands. The company, along with its subsidiaries, is involved in real estate projects across China, focusing on residential and commercial properties.
YTD Price Performance: -2.22%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $2.09B
Learn more about 1918 stock on TipRanks’ Stock Analysis page.
