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Two More Mainland-Listed Firms Default on Bonds

Two listed domestic companies have defaulted on bonds worth more than 700 million yuan, bringing the total number of Chinese mainland companies that have defaulted on bonds this year to 10. Photo: VCG
Two listed domestic companies have defaulted on bonds worth more than 700 million yuan, bringing the total number of Chinese mainland companies that have defaulted on bonds this year to 10. Photo: VCG

Two mainland-listed companies have defaulted on 748 million yuan ($118 million) of bonds as the tightening regulatory environment continues to trip up firms.

Shenzhen-listed Kaidi Ecological and Environmental Technology Co. Ltd., a biomass power generation company, defaulted on 657 million yuan in bonds, while Shanghai-listed China Security & Fire Co., an electronic security products provider, defaulted on 91 million yuan in debt in the past week. The two companies still have a combined 3.9 billion yuan in outstanding bonds.

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