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Wang Yonghong Zhonghong

China Orient Asset Management Buys Unfinished Beijing Tower for RMB 3.3B on Taobao

2020/04/12 by Stephanie Li Leave a Comment

A mainland property investment group which once spent $449 million to buy control of the Seaworld amusement park group from Blackstone, saw one of its prized assets sold on Taobao this past week, as China continues to sweep up the… Read More>>

Wang Yonghong Zhonghong

Mainland Developer Announces Default on RMB 2.27B in Debt as White Knight Goes Dark

2018/09/04 by Emma Zhou Leave a Comment

Zhonghong Holdings, the real estate developer controlled by tycoon Wang Yonghong announced last week that it had defaulted on RMB 1.1 billion ($160 million) in credit obligations in the month of July, bringing the Beijing-based company’s total past-due obligations to… Read More>>

Wang Yonghong Zhonghong

Defaulting Developer’s RMB 1.4B Deal with Kaisa Held Up by Shenzhen Exchange

2018/07/19 by Emma Zhou Leave a Comment

Less than three months after revealing that it had defaulted on more than RMB 1.1 billion ($174 million) in debts, beleaguered Chinese real estate developer Zhonghong Holdings is struggling to explain a deal with Shenzhen-based Kaisa Group that could bring… Read More>>

Wang Yonghong Zhonghong

Chinese Developer Defaults on $364M in Debt One Year After $449M Blackstone Deal

2018/04/24 by Shawna Kwan Leave a Comment

Less than one year after its offshore affiliate paid $449 million to buy a stake in Seaworld from Blackstone, and just nine months after that same unit failed in its $4 billion bid to buy out US senior living operator… Read More>>

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