Caixin
Aug 09, 2022 05:12 AM
FINANCE

Embattled Developer Yango Group Expects Huarong-Led Bailout

As of June 28, Yango Group and its subsidiaries missed debt payments totaling 37.7 billion yuan ($5.6 billion)
As of June 28, Yango Group and its subsidiaries missed debt payments totaling 37.7 billion yuan ($5.6 billion)

Debt-ridden property developer Yango Group Co. (000671.SZ) surged by the daily limit of 10% on the Shenzhen stock exchange amid expectations that a state-owned bad asset manager will step in for a bailout.

Shanghai-based Yango Group has lost nearly half of its market value over the past year as it was snarled in a debt crisis. The shares closed Monday at 2.26 yuan ($0.33).

You've accessed an article available only to subscribers
VIEW OPTIONS
Share this article
Open WeChat and scan the QR code
NEWSLETTERS
Get our CX Daily, weekly Must-Read and China Green Bulletin newsletters delivered free to your inbox, bringing you China's top headlines.

We ‘ve added you to our subscriber list.

Manage subscription
PODCAST
Caixin China Biz Roundup: Rape Allegations at Acting School Spark Uproar
00:00
00:00/00:00