Following Evergrande’s earlier debt default crisis, Suning Group has recently been rumored to have a broken capital chain. Information from China’s National Enterprise Credit Information Public Display System shows that Zhang pledged 51,000 shares of Suning Holdings Group, 39,000 shares of Zhang Kang Yang and 10,000 shares of Nanjing Runxian on December 4, for a total of 100,000 shares, or the entire capital of the company. In addition, Zhang pledged 65,000 shares of Suning Real Estate to Taobao (China) on the same day.
Suning responded that Suning Holdings Group currently holds 3.98% of Suning Tesco’s equity, and that the equity pledge is a normal business cooperation that has no material impact on Suning Tesco’s strategic development and normal operations.
According to mainland financial media reports, Suning’s debts to be repaid in a year amounted to 1368 bit yuan, while the cash on hand was only 24.8 billion yuan, a dilemma of insolvency.
Earlier, the media repeatedly reported Suning’s debt problems, especially in the house China Evergrande (3333) rumored to have failed to return to A to the government for help, as China Evergrande’s Evergrande Real Estate back to A one of the largest investors, investment of 20 billion Suning’s debt prices also fell sharply, because the market worries Suning will be its investment in Evergrande Real Estate “debt to equity”, will affect their own liquidity and debt servicing capacity.
Since October, the mainland debt thunderstorm frequently spread, Brilliance Auto, Yongcheng coal and electricity and other bond defaults, credit debt market risk increased, and Suning main business losses for years, the next year will also face a huge amount of bond resale pressure.
Recent Comments