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13

Flailing Chinese Firms Turn to Red-Hot Property to Bolster Books

By Tony Seruga

At least 12 firms sold assets as many face losses, delisting
Nanjing Putian, Shanghai Xinmei among those selling property

Struggling Chinese companies, some on the brink of delisting, are turning to the soaring property market to bolster their books.

At least 12 firms listed on mainland exchanges announced plans to sell real estate holdings in September amid a surge in property prices, according to Bloomberg calculations from stock exchange disclosures. Among them, seven suffered losses in the first half, while four have been placed on the exchanges’ watch list for possibly being delisted. Most of them are in businesses unrelated to real estate…

Flailing Chinese Firms Turn to Red-Hot Property to Bolster Books

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