Yida China Warns of Lingering Liquidity Strain as Creditors Pursue Legal Enforcement

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

Yida China Holdings Limited has provided an update on its efforts to address a disclaimer of opinion related to material uncertainty over its ability to continue as a going concern, highlighting ongoing liquidity pressures amid a weak property market. The group is still negotiating debt settlements with Aetos-related creditors, who have not yet filed a winding-up petition, while several key bank and trust borrowings remain overdue and are now subject to enforcement and litigation, including a compulsory enforcement application by China CITIC Bank’s Dalian branch over a RMB194 million loan and a civil lawsuit by Northern International Trust seeking recovery of about RMB612 million from Yida subsidiaries. To alleviate its net current liabilities and improve cash flow, the company is tightening cost controls, streamlining its organisational structure, accelerating property sales and receivables collection, and pursuing asset disposals, though management acknowledges that these measures will take time to deliver substantial results given the prolonged sector downturn.

The most recent analyst rating on (HK:3639) stock is a Hold with a HK$0.05 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-based property developer focused on large-scale real estate projects, including business parks and related urban developments, serving corporate and residential customers in a sector currently pressured by a broader downturn in the Chinese real estate market.

YTD Price Performance: -53.61%

Average Trading Volume: 1,033,440

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$118.9M

For an in-depth examination of 3639 stock, go to TipRanks’ Overview page.