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The latest announcement is out from Modern Land (China) Co., Ltd. ( (HK:1107) ).
Modern Land (China) has disclosed that a Beijing court has issued an enforcement ruling involving a creditor dispute tied to land held by Hebei Tongfu Yuanlv Real Estate, for which subsidiary Modern Green is a joint and several guarantor. After a failed online auction of the Hebei land parcel, the court ordered the property, valued at RMB205 million, to be transferred to creditor Shijiazhuang Guangyao Jinheng Real Estate in settlement of principal debt.
The title transfer will be executed by the creditor via the relevant registration authorities, with Modern Land only cooperating procedurally and not controlling the timing. The ruling will reduce the indebtedness of the enforced parties, including Modern Green, by RMB205 million, and the group is still assessing the full financial and accounting impact of the transaction on its consolidated statements, pledging further updates under Hong Kong listing rules.
More about Modern Land (China) Co., Ltd.
Modern Land (China) Co., Limited is a Cayman Islands-incorporated property developer listed in Hong Kong that operates through subsidiaries such as Modern Green Development. The group focuses on real estate development and related property assets in mainland China, including projects in Hebei Province and other urban markets.
YTD Price Performance: -7.14%
Average Trading Volume: 11,035,124
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$36.33M
See more insights into 1107 stock on TipRanks’ Stock Analysis page.