Distressed Chinese Developers Moving Closer to Reset -- Market Talk

Dow Jones

2025/09/25

0356 GMT - Distressed Chinese developers are moving closer to a reset following progress in restructuring, according to HSBC analysts. They think the balance sheets and liquidity situations of defaulted developers such as Agile, Country Garden and Shimao will improve materially once their debt restructurings are completed. However, the companies' shares risk dilution due to their mandatory convertible bonds, they note. These distressed developers are now focused on recapitalizing and monetizing inventory, as the peak of housing delivery obligations has passed, the analysts say. Meanwhile, China's leading developers are positioned to monetize their land banks upon launching their high-end projects acquired earlier this year, they add. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

September 24, 2025 23:56 ET (03:56 GMT)

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They think the balance sheets and liquidity situations of defaulted developers such as Agile, <a href=\"https://laohu8.com/S/CTRYF\">Country Garden</a> and Shimao will improve materially once their debt restructurings are completed. However, the companies' shares risk dilution due to their mandatory convertible bonds, they note. These distressed developers are now focused on recapitalizing and monetizing inventory, as the peak of housing delivery obligations has passed, the analysts say. Meanwhile, China's leading developers are positioned to monetize their land banks upon launching their high-end projects acquired earlier this year, they add. (sherry.qin@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 24, 2025 23:56 ET (03:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1589","symbol_name":"北水核心资产","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2570905121","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2570905121","pubTimestamp":1758772560,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0356 GMT - Distressed Chinese developers are moving closer to a reset following progress in restructuring, according to HSBC analysts. They think the balance sheets and liquidity situations of defaulted developers such as Agile, Country Garden and Shimao will improve materially once their debt restructurings are completed. However, the companies' shares risk dilution due to their mandatory convertible bonds, they note. These distressed developers are now focused on recapitalizing and monetizing inventory, as the peak of housing delivery obligations has passed, the analysts say. Meanwhile, China's leading developers are positioned to monetize their land banks upon launching their high-end projects acquired earlier this year, they add. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1589":"北水核心资产","BK1610":"ETF&股票定投概念","BK1507":"粤港澳大湾区","02007":"碧桂园","BK1240":"房地产开发","03383":"雅居乐集团","BK1555":"内房股","BK1521":"挪威政府全球养老基金持仓","00813":"世茂集团"},"translate_title":"陷入困境的中国开发商距离重置又近了一步——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"02007":0.9,"00813":0.9,"03383":0.9},"content_text":"0356 GMT - Distressed Chinese developers are moving closer to a reset following progress in restructuring, according to HSBC analysts. They think the balance sheets and liquidity situations of defaulted developers such as Agile, Country Garden and Shimao will improve materially once their debt restructurings are completed. However, the companies' shares risk dilution due to their mandatory convertible bonds, they note. These distressed developers are now focused on recapitalizing and monetizing inventory, as the peak of housing delivery obligations has passed, the analysts say. Meanwhile, China's leading developers are positioned to monetize their land banks upon launching their high-end projects acquired earlier this year, they add. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 24, 2025 23:56 ET (03:56 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}