Investors' Risk Appetite for China's Distressed Developers Is Rising -- Market Talk

Dow Jones

Aug 15

0929 GMT - Investors' risk appetite for China's distressed developers has risen, HSBC analysts say in a research note. "Some investors have gone down the quality ladder and are pondering opportunities in the distressed universe" on potential turnaround and debt restructuring progress, analysts say. However, HSBC is mindful of potential risks tied to mandatory convertible bonds as a major component of debt restructuring proposals, as the bonds could lead to significant share dilution. HSBC likes China Resources Land and C&D International Investment Group. The analysts say that further catalysts, such as a possible margin recovery in the coming 1H results and any acquisition of prime land sites, would drive a rerating. (sherry.qin@wsj.com)

(END) Dow Jones Newswires

August 15, 2025 05:29 ET (09:29 GMT)

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However, HSBC is mindful of potential risks tied to mandatory convertible bonds as a major component of debt restructuring proposals, as the bonds could lead to significant share dilution. HSBC likes China Resources Land and C&amp;D International Investment Group. The analysts say that further catalysts, such as a possible margin recovery in the coming 1H results and any acquisition of prime land sites, would drive a rerating. (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  August 15, 2025 05:29 ET (09:29 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Investors' Risk Appetite for China's Distressed Developers Is Rising -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nInvestors' Risk Appetite for China's Distressed Developers Is Rising -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-08-15 17:29</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0929 GMT - Investors' risk appetite for China's distressed developers has risen, <a href=\"https://laohu8.com/S/HSBC\">HSBC</a> analysts say in a research note. \"Some investors have gone down the quality ladder and are pondering opportunities in the distressed universe\" on potential turnaround and debt restructuring progress, analysts say. However, HSBC is mindful of potential risks tied to mandatory convertible bonds as a major component of debt restructuring proposals, as the bonds could lead to significant share dilution. HSBC likes China Resources Land and C&amp;D International Investment Group. The analysts say that further catalysts, such as a possible margin recovery in the coming 1H results and any acquisition of prime land sites, would drive a rerating. (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  August 15, 2025 05:29 ET (09:29 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":"LU1880383366.USD","symbol_name":"东方汇理中国股票基金 A2 (C)","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2559913137","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2559913137","pubTimestamp":1755250140,"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":"0929 GMT - Investors' risk appetite for China's distressed developers has risen, HSBC analysts say in a research note. \"Some investors have gone down the quality ladder and are pondering opportunities in the distressed universe\" on potential turnaround and debt restructuring progress, analysts say. However, HSBC is mindful of potential risks tied to mandatory convertible bonds as a major component of debt restructuring proposals, as the bonds could lead to significant share dilution. HSBC likes China Resources Land and C&D International Investment Group. The analysts say that further catalysts, such as a possible margin recovery in the coming 1H results and any acquisition of prime land sites, would drive a rerating. 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However, HSBC is mindful of potential risks tied to mandatory convertible bonds as a major component of debt restructuring proposals, as the bonds could lead to significant share dilution. HSBC likes China Resources Land and C&D International Investment Group. The analysts say that further catalysts, such as a possible margin recovery in the coming 1H results and any acquisition of prime land sites, would drive a rerating. (sherry.qin@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  August 15, 2025 05:29 ET (09:29 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":"1","news_tag":"economic","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}