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The latest announcement is out from Yida China Holdings Ltd. ( (HK:3639) ).
Yida China Holdings Ltd. has disclosed a breach of a loan agreement involving its subsidiary, Dalian Shengbei, which has failed to repay a loan due since October 2021. The breach has led to overdue interests and triggered cross-defaults amounting to RMB5.681 billion, raising concerns about the company’s financial stability and necessitating immediate repayment if demanded by the lender. The company is in negotiations for a loan restructuring plan, but failure to reach an agreement may result in legal actions by the lender, impacting Yida China’s operations and stakeholders.
More about Yida China Holdings Ltd.
Yida China Holdings Ltd. operates in the real estate industry, focusing on property development and management. The company is involved in the development of residential, commercial, and industrial properties, with a significant presence in the Chinese market.
YTD Price Performance: -30.93%
Average Trading Volume: 509,225
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$186M
See more data about 3639 stock on TipRanks’ Stock Analysis page.