I. Company information of Fantasia Year.
Fantasia Group 1998 started with its headquarters in Shenzhen. It is a leading financial holding group in China, driven by finance, taking service as a platform and development as a tool, and is committed to becoming a leader in interesting, fun and informative living space and experience. In June 2009, Fantasia was successfully listed on the main board of the Hong Kong Stock Exchange with the stock code HK 1777. By 20 12, Fantasia's annual assets exceeded RMB 24.5 billion and its employees exceeded 7,500.
Second, Fantasia has been suspended, and the company is facing bankruptcy pressure.
Fantasia Holdings (0 1777. HK) announced that the company's bill of $206 million (about RMB1300 million yuan) that should have been paid on October 4, 65438 failed to be paid as scheduled. The company's stock was suspended on September 29th until further notice. Fantasia has publicly stated that "the company is operating well, with sufficient operating funds, and there is no liquidity problem." Half a month later, on April 4, 202 1 10, this stable TOP 10 real estate enterprise was exposed to breach of contract.
Third, fantasia is under great debt pressure.
Fantasia said that it will assess the potential impact on the company's financial position and cash position under this circumstance. And continue to pay close attention to the development of this incident and announce new progress in time. Out of concern about fantasia debt, the three major international rating agencies Standard & Poor's, Fitch, Moody's and China Chengxin International all downgraded their ratings. In the context of tight policy environment in the real estate industry, Fantasia Holdings is facing greater pressure of bond maturity. Fantasia Holdings pointed out that the purchase of relevant bills will reduce the company's future financial expenses and its financial assets and liabilities, which is in line with the overall interests of the company and shareholders.
For the debt problem of Fantasia, some insiders are not optimistic. The exposure of the US dollar debt default in Fantasia at least affected the confidence of the bond market. If Fantasia wants to "borrow the old for the new" through US dollar debt financing, it will be even more difficult and will further affect the company's share price.