Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China’s Real Estate Apocalypse! 2,000+ Builders Collapsing Non-stop, Massive Drops in Steel u0026 Cement" video.

  1. 💥 The collapse of Evergrande, a leading real estate developer in China, has triggered a tsunami in the Chinese construction industry, leading to bankruptcy and reorganization of over 2,200 construction-related companies. 00:17 More than 2,200 construction-related companies have filed for bankruptcy since April 2023. The collapse in the Chinese real estate market has caused numerous cement factories to shut down. 🏭 Severe overcapacity in the cement industry in Guang Xi and Guang Shi provinces due to declining market demand and excessive production capacity. 03:28 Large-scale production lines with capacities of 5,000 tons and above totaling 75 production lines with an actual cement production capacity of over 170 million tons have been invested by GUI. Many provinces and cities, including Shandong, Shanxi, and Jiangxi, have implemented cement plant production restrictions due to declining market demand and excessive cement production capacity. Off-peak production restrictions in the cement industry have been extended from the autumn and winter heating season to various periods throughout the year, with some regions even halting production monthly. 📉 The collapse of the Chinese real estate sector has led to a wave of steel mill bankruptcies and construction suspensions, indicating a deteriorating economy. 06:28 Revenue dropped by 28% and net profit attributable to shareholders decreased by over 50% year-on-year in the first 3 months of 2023. Price of rebar decreased from $657 to $514 per ton, leading to numerous steel mill bankruptcies. Country Garden, the largest real estate developer in China, incurred a net loss of up to $6.7 billion in the first half of this year, increasing the risk of debt default. 💰 Country Garden struggles to raise cash flow and faces default and restructuring. 09:53 Country Garden has made efforts to raise cash flow but it remains difficult to improve liquidity in the current market situation. Country Garden has obtained approval from relevant bond holders for extension proposals from non-domestic corporate bonds. Country Garden has $9.9 billion US in outstanding notes and is preparing to face default and restructuring. 🏢 New home prices in China have fallen for the third consecutive month, indicating ongoing difficulties in the Chinese economy. 13:11 New home prices in China fell 2% in September compared to August. 54 out of 70 cities saw housing price declines in September. Real estate sales and investments in China have continued to decline by double digits.
    2