On October 12, SUNAC fell 5.6% in regular trading, trading at HK$0.595/share, with turnover of HK$97.23 million.

The decline was driven by news that a Hong Kong court issued a registration order over a guarantee contract dispute between Beijing Oriental Yuhong Waterproof Technology and SUNAC Chairman Sun Hongbin. Under the order, Sun Hongbin must bear joint and several guarantee liability for the principal of RMB 310 million and related fund occupation fees owed by SUNAC Real Estate Group to Oriental Yuhong. SUNAC stated that Sun Hongbin is seeking legal advice and reserves the right to apply to set aside the registration, while the parties are negotiating a settlement. The board believes the order will not have a material adverse impact on group operations, but market sentiment remained cautious amid broader weakness in Chinese property stocks.

SUNAC Holdings Limited is principally engaged in property development. The company operates through property development, cultural tourism city construction and operation, property management, and other segments, mainly in the domestic market.

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