Comments by "☨St Louis IX opposed paganism, hæresy \x26 debauchery" (@stlouisix3) on "China’s No.1 Real Estate Company in Crisis, 900K Units Left to Rot u0026 Trillions in Debt" video.

  1. 📉 Country Garden, China's largest real estate conglomerate, is facing a severe crisis with an expected net loss of RMB 45-55 billion, leading to a decline in stock prices and credit rating. 00:00 Country Garden announced an expected net loss ranging from RMB 45-55 billion. The company's stock price dropped 5.8% in the Hong Kong stock market. Moody's downgraded Country Garden to 'CAA1/CAA2' with a 'negative' outlook. 😱 Country Garden, a real estate company, is facing a potential crisis as its management tries to mitigate risks and preserve liquidity through actions such as selling shares and donating equity to a charitable foundation. 06:22 Li Changjiang, a major shareholder, sold 3,227,900 shares of Country Garden, reducing his stake to just 0.11%. Yang Huiyan, the chairman of Country Garden's board, donated 20% of the equity in Country Garden Services, worth CNY 6.4 billion, to the Guoqiang Public Welfare Foundation. The potential collapse of Country Garden would have severe consequences, including devastating homebuyers, impacting other real estate companies, and putting the entire real estate sector at risk. 🏢 The Chinese real estate market is facing a crisis as developers like Evergrande and Country Garden struggle with massive debts and unfinished projects. 11:29 Wall Street is concerned about the impact of potential defaults on major Chinese bank bonds and global financial investments in China. Country Garden has over 3,000 projects, indicating a potentially more severe fallout than Evergrande's collapse. The cost of unfinished projects is borne by the average citizen, leading to public resentment towards the real estate industry.
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