Movement Alert|Sunac China Falls 6.67% in Regular Trading, Chongqing A-ONE Project Auction Failure Compounds Ongoing Debt Default Pressure

Market Focus07-13

On July 13, Sunac China fell 6.67% in regular trading, trading at HKD 0.57/share, with turnover of HKD 51.28 million.

On the news front, the Chongqing A-ONE project, once planned as the tallest building in Chongqing, failed at auction with a starting price of approximately RMB 2.002 billion. Despite attracting over 5,000 views, no bids were placed, undermining market confidence in the company's asset disposal and debt resolution progress. Additionally, a subsidiary defaulted on a RMB 3 million bank loan, while the company itself added a new dishonesty record. These developments compound previously disclosed overdue debts totaling approximately RMB 686 million and two major lawsuits involving approximately RMB 4.057 billion that have entered the execution stage, with courts ordering the freezing of bank deposits or seizure of equivalent assets.

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