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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.

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Credit

Dalian Wanda Commercial Properties / Credit

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The property management unit of Dalian Wanda Group Co. wants to push back the maturity of a $600 million bond by nearly a year, highlighting the property conglomerate’s deepening liquidity crunch.
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Dalian Wanda Commercial Management Group Co. said Tuesday that it is seeking to delay the payment on the 7.25% note by 11 months due to liquidity pressures.
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The 10-year dollar-denominated notes, issued by its subsidiary Wanda Properties International Co., are set to mature on Jan. 29, 2024, Wanda Commercial, the guarantor of the bond, said in a filing to the Hong Kong stock exchange.
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The property management unit of Dalian Wanda Group Co. wants to push back the maturity of a $600 million bond by nearly a year, highlighting the property conglomerate’s deepening liquidity crunch.


Dalian Wanda Commercial Management Group Co. said Tuesday that it is seeking to delay the payment on the 7.25% note by 11 months due to liquidity pressures.


The 10-year dollar-denominated notes, issued by its subsidiary Wanda Properties International Co., are set to mature on Jan. 29, 2024, Wanda Commercial, the guarantor of the bond, said in a filing to the Hong Kong stock exchange.



Wanda Unit Seeks Extension for $600 Million Dollar Bonds 

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 | Nov 17-23, 2023

Cross Asset Strategy

<ul><li>Bonds / : Five things to know about China’s unusual sovereign bond issue</li><li>Students /: U.S. draws fewer Chinese students, report says</li><li>Wanda /: Wanda unit seeks extension for $600 million dollar bonds</li></ul>

Bonds / : Five things to know about China’s unusual sovereign bond issueStudents /: U.S. draws fewer Chinese students, report saysWanda /: Wanda unit seeks extension for $600 million dollar bonds

CX Daily: Five Things to Know About China’s Unusual Sovereign Bond Issue 

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.</li>
<li>In the IPO space, <a href="https://www.smartkarma.com/entities/wuxi-xdc-cayman-inc" target="_blank" data-smartkarma-citation="entities:39917:1" rel="noopener">WuXi XDC</a> ended up doing well, as expected. Now <a href="https://www.smartkarma.com/entities/tata-technologies" target="_blank" data-smartkarma-citation="entities:23700:1" rel="noopener">Tata Technologies </a>will be another one to watch.</li>
<li>The placements continued to flow in this week as well, with both Australia and Japan deals coming relatively thick and fast, at least by 2023's pace.</li>
</ul>


Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
In the IPO space, WuXi XDC ended up doing well, as expected. Now Tata Technologies will be another one to watch.
The placements continued to flow in this week as well, with both Australia and Japan deals coming relatively thick and fast, at least by 2023's pace.


ECM Weekly (19th Nov 2023)- Asahi, Ajinomoto, Steadfast, Karoon, Wuxi, Ecopro, Zeekr, Tata Tech

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.

<ul><li>Subsequent to the withdrawal from property developments in 2020, Dalian Wanda Commercial Management (DWCM) is more of a commercial property investor with growing recurring rental income from its expanding IP portfolio.</li><li>In 1H23, recurring income from investment property leasing and management accounted for 91% of DWCM’s revenue.</li><li>Hence, its operating performance has been more resilient than that of developers.</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.

Subsequent to the withdrawal from property developments in 2020, Dalian Wanda Commercial Management (DWCM) is more of a commercial property investor with growing recurring rental income from its expanding IP portfolio.In 1H23, recurring income from investment property leasing and management accounted for 91% of DWCM’s revenue.Hence, its operating performance has been more resilient than that of developers.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.

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)

Wanda Unit Seeks Extension for $600 Million Dollar Bonds

The property management unit of Dalian Wanda Group Co. wants to push back the maturity of a $600 million bond by nearly a year, highlighting the...

Caixin Global

China Property Developers In Distress - Weekly News & Announcements Tracker | Nov 17-23, 2023

A weekly (Nov 16-23) curated selection of Chinese news articles and company announcements focused on developers in distress

Robert Ciemniak

CX Daily: Five Things to Know About China’s Unusual Sovereign Bond Issue

Bonds / Five things to know about China’s unusual sovereign bond issue The Chinese government took a rare and unexpected decision in October to...

Caixin Global

ECM Weekly (19th Nov 2023)- Asahi, Ajinomoto, Steadfast, Karoon, Wuxi, Ecopro, Zeekr, Tata Tech

Aequitas Research puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.

Sumeet Singh

DALWAN: Another Reality Check

In 1H23, recurring income from investment property leasing and management accounted for 91% of DWCM’s revenue. Subsequent to the withdrawal from...

CMB International

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52-week Range

Market Cap (USDm)

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