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<ul><li>A handful of debt-encumbered Chinese real estate developers have postponed publishing their 2021 annual reports, blaming disruptions from a recent wave of Covid-19 cases that hit China.</li><li>Sunac China Holdings Ltd., the country’s third largest developer by sales, said it could not complete audit procedures on time due to restrictions on personal movement that resulted from the recent Covid flare-ups, according to a Monday<a href="https://www.sunac.com.cn/upload/file/2022-03-21/9d39d143-efb5-49e3-8a84-8ef8f1d57818.pdf" target="_blank" rel="noopener"> exchange filing</a>.</li><li>A suspension of express delivery services coupled with Covid-19 containment measures that closed down offices and quarantined workers in several cities left some Sunac subsidiaries unable to finalize the necessary documents for its report, the filing said.</li></ul>

A handful of debt-encumbered Chinese real estate developers have postponed publishing their 2021 annual reports, blaming disruptions from a recent wave of Covid-19 cases that hit China.Sunac China Holdings Ltd., the country’s third largest developer by sales, said it could not complete audit procedures on time due to restrictions on personal movement that resulted from the recent Covid flare-ups, according to a Monday exchange filing.A suspension of express delivery services coupled with Covid-19 containment measures that closed down offices and quarantined workers in several cities left some Sunac subsidiaries unable to finalize the necessary documents for its report, the filing said.

Debt-Wracked Chinese Developers Delay 2021 Financial Reports

Hong Kong

Ronshine China Holdings Limited is a property developer in the PRC, focusing on the development of residential properties in cities in the Western Taiwan Strait s Economic Zone and selected first- and second-tier cities.

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Ronshine China Holdings (3301 HK)

Debt-Wracked Chinese Developers Delay 2021 Financial Reports

A handful of debt-encumbered Chinese real estate developers have postponed publishing their 2021 annual reports, blaming disruptions from a recent...

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