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

Thematic (Sector/Industry)

<ul>
<li>A weekly 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 sources</li>
</ul>


A weekly 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 sources


China Property Developers In Distress - Weekly News & Announcements Tracker | Dec 15-21, 2023

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

Equity Bottom-Up

Dalian Wanda Commercial Properties / Equity Bottom-Up

<ul>
<li>Cash-strapped developer Dalian Wanda Group Co. Ltd. can breathe a temporary sigh of relief having reached an agreement with investors to avoid an immediate repayment of more than 40 billion yuan ($5.6 billion) for an unfulfilled flotation of its property management unit.</li>
<li>Wanda faced having to repay a group of investors their 38-billion-yuan investments plus interest under a 2021 agreement if the developer failed to list its light-asset unit, Zhuhai Wanda Commercial Management Group Co. Ltd., by the end of this year.</li>
<li>As Zhuhai Wanda’s listing plan failed despite <a href="https://www.caixinglobal.com/2023-06-30/wanda-unit-files-fourth-hong-kong-ipo-application-102070706.html" target="_blank" rel="noopener">four attempts</a>, the repayment obligation became a ticking time bomb hanging over the company, which is struggling with capital drains amid plunging sales.</li>
</ul>


Cash-strapped developer Dalian Wanda Group Co. Ltd. can breathe a temporary sigh of relief having reached an agreement with investors to avoid an immediate repayment of more than 40 billion yuan ($5.6 billion) for an unfulfilled flotation of its property management unit.
Wanda faced having to repay a group of investors their 38-billion-yuan investments plus interest under a 2021 agreement if the developer failed to list its light-asset unit, Zhuhai Wanda Commercial Management Group Co. Ltd., by the end of this year.
As Zhuhai Wanda’s listing plan failed despite four attempts, the repayment obligation became a ticking time bomb hanging over the company, which is struggling with capital drains amid plunging sales.


Wanda Reaches Deal with Investors to Avoid $5.6 Billion Immediate Repayment 

Cross Asset Strategy

<ul><li>Hydrogen / In Depth: In China, hydrogen’s star rises</li><li>China-Vietnam /: China, Vietnam leaders agree to strengthen ties as Xi makes official visit</li><li>Meeting /: China’s top leadership pledges strong focus on growth next year</li></ul>

Hydrogen / In Depth: In China, hydrogen’s star risesChina-Vietnam /: China, Vietnam leaders agree to strengthen ties as Xi makes official visitMeeting /: China’s top leadership pledges strong focus on growth next year

CX Daily: In China, Hydrogen’s Star Rises 

External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Credit

Dalian Wanda Commercial Properties / Credit

<ul><li>Dalian Wanda Commercial Management (DWCM) signed a new investment agreement with pre-IPO investors of Zhuhai Wanda Commercial Management (ZWCM) to reinvest the proceeds from the redemption of pre-IPO investments in ZWCM.</li><li>We estimate that the put for pre-IPO investment would be cRMB46bn.</li><li>The development is in line with our expectation that DWCM can avoid the sizeable cash flow for the redemption of pre-IPO investments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Dalian Wanda Commercial Management (DWCM) signed a new investment agreement with pre-IPO investors of Zhuhai Wanda Commercial Management (ZWCM) to reinvest the proceeds from the redemption of pre-IPO investments in ZWCM.We estimate that the put for pre-IPO investment would be cRMB46bn.The development is in line with our expectation that DWCM can avoid the sizeable cash flow for the redemption of pre-IPO investments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DALWAN: First takes on the settlement of pre-IPO investments

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Internet / In Depth: China’s internet content kings struggle to keep users payingHong Kong /: Hong Kong remains key in finance, innovation, city’s leader saysAMEX /: American Express doubles down for majority stake in China bank card clearing business

CX Daily: China’s Internet Content Kings Struggle to Keep Users Paying 

China

Dalian Wanda Commercial Management Group Co., Ltd. operates as a commercial property developer, owner, and operator. The Company develops and manages mixed-use property projects including retail, office, hotel, residential, restaurant, entertainment, and other projects. Dalian Wanda Commercial Management Group conducts businesses in China.

Dalian Wanda Commercial Properties (1567411D HK)

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Dalian Wanda Commercial Properties (1567411D HK)

China Property Developers In Distress - Weekly News & Announcements Tracker | Dec 15-21, 2023

A weekly (Dec 15-21, 2023) curated selection of Chinese news articles and company announcements focused on developers in distress

Robert Ciemniak

Wanda Reaches Deal with Investors to Avoid $5.6 Billion Immediate Repayment

Cash-strapped developer Dalian Wanda Group Co. Ltd. can breathe a temporary sigh of relief having reached an agreement with investors to avoid an...

Caixin Global

CX Daily: In China, Hydrogen’s Star Rises

Hydrogen / In Depth: In China, hydrogen’s star rises In the quest for cleaner energy sources, hydrogen’s star is rising. China is just one of a...

Caixin Global

DALWAN: First takes on the settlement of pre-IPO investments

The development is in line with our expectation that DWCM can avoid the sizeable cash flow for the redemption of pre-IPO investments.

CMB International

CX Daily: China’s Internet Content Kings Struggle to Keep Users Paying

Internet / In Depth: China’s internet content kings struggle to keep users paying China’s internet content industry has finally cultivated its...

Caixin Global

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)