Financial sector veteran, KT Capital Group

Fern Wang

Financial sector veteran

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

Equity Bottom-Up

Country Garden Holdings / Equity Bottom-Up

<ul>
<li>Country Garden’s offshore debt default is happening. Its time to investor to revisit their position as restructuring is looming.</li>
<li>Investors may not have any access to Country Garden’s onshore assets under its current offshore issuance structure.</li>
<li>Evergrande’s offshore debt issuing structure could be more favourable compared to that of Country Garden in bankruptcy, depending on how the court interprets its Keepwell agreement.</li>
</ul>


Country Garden’s offshore debt default is happening. Its time to investor to revisit their position as restructuring is looming.
Investors may not have any access to Country Garden’s onshore assets under its current offshore issuance structure.
Evergrande’s offshore debt issuing structure could be more favourable compared to that of Country Garden in bankruptcy, depending on how the court interprets its Keepwell agreement.


Country Garden’s Offshore Debt Issuance Structure May Be Less Favorable than that of Evergrande

Co-Founder & CEO, Newmark Risk

Nicholas Pezolano

Co-Founder & CEO

Option analytics for institutional investors

Newmark Risk

Fin-tech company focused on providing option derived analytics for institutional investors.

We handle the complexity of options data so you don't have to.

- Data and Analytics available all in one place so you can focus on Strategy Development
- Custom Solutions for your data and/or portfolio needs
- Advisory services to lend our expertise

Knowledge is something that was meant to be shared and we provide insights to our clients and to the community via posting about our research findings.

Equity Derivatives

Country Garden Holdings / Equity Derivatives

<ul>
<li>Top Hong Kong Stock Exchange listed covered call candidates for the month of March.</li>
<li>The top 10 provide an average ~6.9% premium with a potential ~9.8% upside P&amp;L if exercised.</li>
<li>Investors with a neutral 1-month view on the underlying can seek to generate income.</li>
</ul>


Top Hong Kong Stock Exchange listed covered call candidates for the month of March.
The top 10 provide an average ~6.9% premium with a potential ~9.8% upside P&amp;L if exercised.
Investors with a neutral 1-month view on the underlying can seek to generate income.


EQD | Hong Kong March 2026 Monthly Covered Call Report

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

Thematic (Sector/Industry)

<ul><li>Blackstone has closed a substantial $6.3 billion life sciences fund, marking a significant investment.</li><li>DWS has acquired a Central Sydney office building for $105 million, highlighting APAC real estate activity.</li><li>Adele Tan has been appointed as the new Chief Executive of Singapore's Urban Redevelopment Authority.</li></ul>

Blackstone has closed a substantial $6.3 billion life sciences fund, marking a significant investment.DWS has acquired a Central Sydney office building for $105 million, highlighting APAC real estate activity.Adele Tan has been appointed as the new Chief Executive of Singapore's Urban Redevelopment Authority.

Asia Real Estate Tracker (31-Mar-2026): Blackstone closes $6.3B life sciences fund; APAC updates.

Founder-CEO & Chief Analyst, Real Estate Foresight

Robert Ciemniak

Founder-CEO & Chief Analyst

Real Estate Foresight

Since 2012, REF has been helping investors with market research, project due diligence, and strategy development. This has ranged from detailed assessments and estimates on distressed developers' project portfolios to market due diligence on specific projects to macro-level questions linked to demand for commodities. The unique combination of the housing markets and developer data from data partner China Index Academy in Beijing, primary research, and technology-powered alternative data collection from public sources result in a valuable content set used in REF analytics and reports.

Predictive Analytics for China Property

<ul>
<li>This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress</li>
<li>We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market</li>
<li>We do not verify the underlying data or provide any opinion; we only select and summarise the information. See direct links to the sources</li>
</ul>


This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress
We look for their deals, updates, specific project progress news ('local signals'), as well as relevant local research commentaries about the market
We do not verify the underlying data or provide any opinion; we only select and summarise the information. See direct links to the sources


China Property Developers In Distress - Weekly News & Announcements Tracker | Feb 12-26, 2026

Macroeconomics

<ul>
<li>We review the 2025 'draw the line' group forecasts for new home sales in China vs what happened, and put it in the context of the past forecasts.</li>
<li>The 'wisdom of crowds' worked well in the end, but the 'path' to year-end was off most of the year.</li>
<li>You can now join this year's <a href="https://ref.kubrosearch.com/drawkits/" target="_blank" rel="noopener">'Draw the Line 2026'</a> for new home sales, part of Real Estate Foresight's 14th Annual China Property Outlook.</li>
</ul>


We review the 2025 'draw the line' group forecasts for new home sales in China vs what happened, and put it in the context of the past forecasts.
The 'wisdom of crowds' worked well in the end, but the 'path' to year-end was off most of the year.
You can now join this year's 'Draw the Line 2026' for new home sales, part of Real Estate Foresight's 14th Annual China Property Outlook.


China Property Predictions: In Hindsight On 2025 And "Draw The Line" 2026

China

Country Garden Holdings is a major real estate development company primarily engaged in property development, construction, property investment, property management, and hotel operations. The company offers a diverse portfolio including residential projects, commercial properties, and integrated urban developments. It was founded in 1992 and is headquartered in Foshan, China.

Price Gauge
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Country Garden Holdings (2007 HK)

Country Garden’s Offshore Debt Issuance Structure May Be Less Favorable than that of Evergrande

All other things equal, Country Garden's offshore debt issuance structure is less favorable than that of Evergrande's. The existence of a Keepwell...

Fern Wang

EQD | Hong Kong March 2026 Monthly Covered Call Report

March's top covered call candidates on the Hong Kong Stock Exchange offer a 6.9% premium and potential 9.8% upside if exercised, allowing...

Nicholas Pezolano

Asia Real Estate Tracker (31-Mar-2026): Blackstone closes $6.3B life sciences fund; APAC updates.

Blackstone closed a $6.3B life sciences fund, DWS acquired a Sydney office for $105M, ESR is selling a Shanghai office at a discount, and Adele Tan...

Asia Real Estate Tracker

China Property Developers In Distress - Weekly News & Announcements Tracker | Feb 12-26, 2026

This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress.

Robert Ciemniak

China Property Predictions: In Hindsight On 2025 And "Draw The Line" 2026

We review the 2025 'draw the line' group forecasts for new home sales in China vs what happened, and put it in the context of the past forecasts.

Robert Ciemniak

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Country Garden’s Offshore Debt Issuance Structure May Be Less Favorable than that of Evergrande

All other things equal, Country Garden's offshore debt issuance structure is less favorable than that of Evergrande's. The existence of a Keepwell...

Fern Wang

EQD | Hong Kong March 2026 Monthly Covered Call Report

​March's top covered call candidates on the Hong Kong Stock Exchange offer a 6.9% premium and potential 9.8% upside if exercised, allowing...

Nicholas Pezolano

Asia Real Estate Tracker (31-Mar-2026): Blackstone closes $6.3B life sciences fund; APAC updates.

Blackstone closed a $6.3B life sciences fund, DWS acquired a Sydney office for $105M, ESR is selling a Shanghai office at a discount, and Adele Tan...

Asia Real Estate Tracker

China Property Developers In Distress - Weekly News & Announcements Tracker | Feb 12-26, 2026

This note is a weekly (select weeks on SK) curated selection of Chinese news articles and company announcements focused on developers in distress.

Robert Ciemniak

China Property Predictions: In Hindsight On 2025 And "Draw The Line" 2026

We review the 2025 'draw the line' group forecasts for new home sales in China vs what happened, and put it in the context of the past forecasts.

Robert Ciemniak

March's top covered call candidates on the Hong Kong Stock Exchange offer a 6.9% premium and potential 9.8% upside if exercised, allowing...