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Shimao Property Holdings ( (HK:0813) ) has shared an update.
Shimao Group Holdings Limited has announced significant steps to improve its financial position following a disclaimer of opinion regarding its going concern status in the 2024 annual report. The company has implemented an offshore debt restructuring scheme, sanctioned by the High Court of Hong Kong, expected to discharge approximately US$11.5 billion in debt by August 2025. Additionally, Shimao has extended onshore loans worth RMB9.3 billion and is accelerating property sales, achieving RMB11.202 billion in contracted sales by May 2025. These measures, alongside financial support from local government initiatives, aim to stabilize Shimao’s operations and ensure sustainable business conditions.
The most recent analyst rating on (HK:0813) stock is a Sell with a HK$0.25 price target. To see the full list of analyst forecasts on Shimao Property Holdings stock, see the HK:0813 Stock Forecast page.
More about Shimao Property Holdings
Shimao Group Holdings Limited is a prominent real estate development company, primarily engaged in property development, property investment, and hotel operations. The company focuses on the Chinese market, offering residential, commercial, and hotel properties.
Average Trading Volume: 8,346,968
Technical Sentiment Signal: Sell
Current Market Cap: HK$2.92B
Find detailed analytics on 0813 stock on TipRanks’ Stock Analysis page.