Country Garden Holdings: A Canary in the Coal Mine for China's Property Sector

In this episode, we analyse Country Garden Holdings' situation using their 2023 annual report and a July 2024 winding-up petition announcement. We dissect their massive loss of RMB 200,962 million, stemming from a slump in the Chinese property market and impairment provisions.

The discussion covers:

• The ripple effect on partners
• RMB 141,982 million in default or cross default
• The auditor's "going concern uncertainty"
• Debt restructuring
• Targeted sales
• Asset revitalisation
• Cost control measures

Join us as we understand the potential global economic impact and key indicators for the Chinese property sector, highlighting the lessons on overexpansion and excessive debt.