Equity Analyst

Steve Zhou, CFA

Over 13 years of professional experience covering mainly Asian consumer companies in sell-side and buy-side.

Equity Bottom-Up

Sunac Services Holdings / Equity Bottom-Up

<ul>
<li>On September 21, a debt restructuring agreement was reached with debt holders of Sunac China, in which part of the agreement included Sunac Services shares.</li>
<li>The debt restructuring for Sunac China should provide a positive feedback loop to the sentiment and fundamentals of Sunac Services.</li>
<li>The core property management business (86% of sales) grew 8% yoy in 1H23, with total gross floor area growing by 12% yoy. </li>
</ul>


On September 21, a debt restructuring agreement was reached with debt holders of Sunac China, in which part of the agreement included Sunac Services shares.
The debt restructuring for Sunac China should provide a positive feedback loop to the sentiment and fundamentals of Sunac Services.
The core property management business (86% of sales) grew 8% yoy in 1H23, with total gross floor area growing by 12% yoy. 


Sunac Services (1516 HK):  Positive Development From Debt Restructuring Of Parent Company