Chinese Developers DaFa, Jiayuan, and Datang Booted from HKEX

MT Newswires Live10-24

DaFa Properties Group (HKG:6111), Jiayuan International Group (HKG:2768), and Datang Group (HKG:2117) will be delisted from the Hong Kong Exchange on Oct. 29, the bourse said Thursday.

The embattled property developers are facing delisting because they failed to fulfill the trading resumption guidance by the deadline set by HKEX.

Trading in the shares of DaFa and Jiayuan has been suspended since April 3, 2023, while that of Datang was halted on March 21, 2023.

The development came after DaFa got a winding-up order from the Hong Kong High Court, and rescue deals for Jiayuan and Datang fell through.

In recent years, Chinese developers have struggled to meet debt obligations amid China's tightened regulatory curbs to rein in excessive borrowing in the property sector.

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