Listed Real Estate Asia, KT Capital Group

Jacob Cheng

Listed Real Estate Asia

KT Capital Group

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

Principal investments and advisory firm

Thematic (Sector/Industry)

<ul>
<li>The formal delisting of China Evergrande will have an impact on its stakeholders, including the equity investors, creditors as well as Chinese homebuyers</li>
<li>There is a shift of government attitude from “intervention” to “stabilization”.  It is challenging for other developers who are facing liquidity crisis, e.g. China South City also suspend trading</li>
<li>For trade ideas, we recommend investors stick with SOE (e.g. COLI) with no bankrupty risk to bet on Chinese property recovery and short private stressed developers (e.g. Country Garden)</li>
</ul>


The formal delisting of China Evergrande will have an impact on its stakeholders, including the equity investors, creditors as well as Chinese homebuyers
There is a shift of government attitude from “intervention” to “stabilization”.  It is challenging for other developers who are facing liquidity crisis, e.g. China South City also suspend trading
For trade ideas, we recommend investors stick with SOE (e.g. COLI) with no bankrupty risk to bet on Chinese property recovery and short private stressed developers (e.g. Country Garden)


China Property: The Implication of Evergrande's De-Listing

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

Macroeconomics

<ul>
<li>This is a quick note with the results of Real Estate Foresight's annual <a href="https://www.smartkarma.com/insights/china-property-in-hindsight-on-2024-and-draw-the-line-2025" target="_blank" rel="noopener">'Draw the Line' survey</a>, which focused on China's new home sales for 2025</li>
<li>Responses concentrate in the -5% to -10% range but vary from -20% to +20%, vs -14% actual for 2024</li>
<li>Jan-Feb 2025 actual figure published mid-March by NBS shows an improvement from -14% to -12% (12 months rolling vs prior 12 months)</li>
</ul>


This is a quick note with the results of Real Estate Foresight's annual 'Draw the Line' survey, which focused on China's new home sales for 2025
Responses concentrate in the -5% to -10% range but vary from -20% to +20%, vs -14% actual for 2024
Jan-Feb 2025 actual figure published mid-March by NBS shows an improvement from -14% to -12% (12 months rolling vs prior 12 months)


China Property: 2025 "Draw The Line" Forecasts for New Home Sales - Results

<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 summarize 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 summarize the information; See direct links to the sources


China Property Developers In Distress - Weekly News & Announcements Tracker | Feb 21- 27, 2025

China Property Developers In Distress - Weekly News & Announcements Tracker | Jan 31- Feb 6, 2025

<ul>
<li>We've been tracking the data on approved financing for the <a href="https://www.smartkarma.com/insights/china-property-the-red-hot-whitelists" target="_blank" rel="noopener">projects on the 'whitelist'</a> for over a year now, considering it a major factor in addressing the 'sold-not-completed' problem</li>
<li>New data released in January shows the approved loans for the 'whitelist' projects exceeded the target in 2024</li>
<li>There was a big acceleration in approvals in Q4 2024</li>
</ul>


We've been tracking the data on approved financing for the projects on the 'whitelist' for over a year now, considering it a major factor in addressing the 'sold-not-completed' problem
New data released in January shows the approved loans for the 'whitelist' projects exceeded the target in 2024
There was a big acceleration in approvals in Q4 2024


China Housing: Progress On The "Whitelist" Project Financing Approvals

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.

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Country Garden Holdings (2007 HK)

China Property: The Implication of Evergrande's De-Listing

Evergrande's de-listing has an impact on stakeholders including equity investors, creditors and Chinese homebuyers. There might be a ripple...

Jacob Cheng

China Property: 2025 "Draw The Line" Forecasts for New Home Sales - Results

This is a quick note with the results of Real Estate Foresight's annual 'Draw the Line' survey, which focused on China's new home sales for 2025.

Robert Ciemniak

China Property Developers In Distress - Weekly News & Announcements Tracker | Feb 21- 27, 2025

This note is a weekly (Feb 21-27, 2025, select weeks on SK) curated selection of Chinese news articles and company announcements focused on...

Robert Ciemniak

China Property Developers In Distress - Weekly News & Announcements Tracker | Jan 31- Feb 6, 2025

This note is a weekly (Jan 31 - Feb 6, 2025; select weeks on SK) curated selection of Chinese news articles and company announcements focused on...

Robert Ciemniak

China Housing: Progress On The "Whitelist" Project Financing Approvals

China Housing: New data released in January shows the approved loans for the 'whitelist' projects exceeded the target in 2024.

Robert Ciemniak

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)