On July 2, Sunac China rose 6.45% in regular trading, trading at HKD 0.66 per share, with turnover of HKD 51.07 million.

On the news front, Sunac China announced on June 30 that its zero-coupon Mandatory Convertible Bond 1, issued in December last year, matured on June 23. The remaining outstanding principal of approximately USD 2.533 billion has been fully mandatorily converted into company shares, bringing the outstanding principal to zero. Approximately 2.906 billion new shares were issued upon conversion. The company also disclosed that Mandatory Convertible Bond 2, with a principal of USD 2.4 billion, will begin its conversion period in June next year and mature for mandatory conversion in June 2028. Additionally, the company reached loan extensions totaling approximately RMB 1.1 billion during the period.

The broader Real Estate Development sector rallied in tandem, with China Vanke up 5.66%, China Resources Land up 4.67%, and China Overseas up 4.23%, providing further sentiment support.

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