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CHINASOUTHCITY Ordered by Hong Kong High Court for Liquidation
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CHINASOUTHCITY (01668.HK) was ordered this morning (11th) by the Hong Kong High Court to be liquidated, becoming the largest Chinese real estate company by asset size to be liquidated in Hong Kong since EVERGRANDE (03333.HK). CHINASOUTHCITY's restructuring plan failed to gain sufficient creditor support after months of negotiations. The liquidation application for the company was filed by Citigroup in January 2025, which was the trustee of the company's US dollar bonds. According to CHINASOUTHCITY's annual report, the company's total liabilities approximated HKD60.9 billion as of the end of 2024. CHINASOUTHCITY last stood at HKD0.107, down 1.83%, with a trading volume of 2.204 million shares, involving HKD239,700. AASTOCKS Financial News Website: www.aastocks.com |
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