Yida China Discloses New Loan Default as Cross-Default Pressure Mounts

Yida China Holdings Ltd. ( (HK:3639) ) has issued an announcement.

Yida China Holdings has disclosed that an indirect wholly owned unit, Yida Development, has breached a debt restructuring agreement with the Export-Import Bank of China Liaoning Branch by failing to pay the latest principal and interest installment on a RMB102.6 million loan. The loan, carrying 4% interest and maturing in November 2028, is secured by mortgages and guarantees over multiple Dalian properties and related proceeds, and remains outstanding at about RMB102.2 million.

The company also provided an update on a separate Bohai Trust loan, noting that, despite regulator-backed talks on extension and risk resolution, Gaoji Company and Bohai Bank have not reached a solution after the loan’s maturity. Yida revealed that cross-defaults tied to various overdue borrowings total roughly RMB4.223 billion within a wider pool of overdue and immediately repayable debt, and the board is still assessing the financial impact while continuing negotiations on extensions.

The most recent analyst rating on (HK:3639) stock is a Hold with a HK$0.07 price target. To see the full list of analyst forecasts on Yida China Holdings Ltd. stock, see the HK:3639 Stock Forecast page.

More about Yida China Holdings Ltd.

Yida China Holdings Limited is a mainland China-focused property developer engaged in real estate development and related businesses through various subsidiaries. The group holds commercial and residential assets in cities such as Dalian, with projects that generate both sales proceeds and rental income, and it relies significantly on bank and trust financing for its capital needs.

YTD Price Performance: 11.11%

Average Trading Volume: 1,032,823

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$129.2M

Learn more about 3639 stock on TipRanks’ Stock Analysis page.