TOPIC

/ company

Country Garden Holdings

Country Garden Services is an estate-management company in mainland China, spun off from Chinese property developer Country Garden Holdings in 2018. The company provides services to residential and commercial properties, office buildings, industrial estates, government buildings, hospitals, schools and other public facilities. Country Garden Services is controlled by Yang Huiyan, the chairman of the former parent company and China's richest woman.

Chairman / President

Yeung Kwok Keung

CEO / Managing Director

Mo Bin

CFO / Finance Director

Wu Bijun

Industry

Property

Website

countrygarden.com.cn

Headquarters address

Country Garden Centre, No.1 Country Garden Road, Beijiao Town, Shunde District, Foshan, Guangdong, China

Stock Code

SEHK:2007

Year founded

1992

Country Garden Holdings

China Vanke wins bondholders’ reprieve, averts default for now

Holders of the 2 billion yuan note approve extension of grace period to January 28, but deny proposal to defer principal payment for a year.

Chinese developer Country Garden gains Hong Kong court-backed debt lifeline

China Vanke hit with fresh S&P downgrade amid mounting default concerns

China’s property market poised to decline at least through 2026: S&P analyst

Nationwide primary property sales are expected to fall 8 per cent in 2025 and between 6 to 7 per cent in 2026.

China’s home prices slide as support measures fail to budge sentiment

Drop in new home prices across 70 major cities matches the previous month, which was the sharpest decline since October.

China’s property slump may be bottoming, as analysts point to signs

The decline in China’s new home sales this year may slow to 7 per cent, Fitch Ratings says after revising its forecast from a previous slump of 15 per cent.

Cifi creditors approve US$7.9 billion offshore debt restructuring plan

The group’s offshore debt obligations will decrease by around US$5.3 billion, or 66 per cent of the total, according to the company.

China’s Country Garden borrows from services unit to finish homes

Country Garden Services loans 1 billion yuan (US$138 million) to entities controlled by group’s chairwoman Yang Huiyan, filing says.

China’s Sunac reaches deal with key creditors on offshore debt revamp plan

Two groups of creditors, holding about 26 per cent of Sunac’s existing debt, could choose to receive two types of mandatory convertible bonds.

Chinese residents and developer spot green shoots at Malaysian ‘ghost city’

Luxury compound still has no supermarket, but more Singaporeans are making day trips on weekends.

SCMP recognised in 5 categories at State Street’s 2024 Press Awards

The awards, sponsored by Boston-based State Street for the 13th year, received more than 200 entries in 14 categories this year in English and Chinese.

Country Garden: restructurings covering at least 8 bonds get creditor approval

Country Garden gets approval for restructuring eight bonds, making progress in its debt-management plan.

No respite in sight for Chinese developers as profits continue to slump

China Overseas Land & Investment’s profit sank 40 per cent to 15.6 billion yuan, while Country Garden trimmed its loss to 32.8 billion yuan.

Country Garden’s 2024 loss narrows amid tentative recovery signs

The loss attributable to shareholders stood at 32.8 billion yuan, compared with a record 178 billion yuan loss in 2023, according to an exchange filing.

Chinese developer Longfor’s bonds sink deeper into junk territory

Downgrade comes as developers continue to struggle with lacklustre buyer sentiment despite recent support measures.

China property crisis: Hong Kong court orders Evergrande, HNA units to liquidate

Tianji Holding and HNA Group (International) have become the latest casualties in the mainland’s distressed property sector.

China’s property slump to persist in 2025 amid supply glut: Fitch

Gross floor area to fall 10 per cent while average selling price seen weakening 5 per cent in 2025, Fitch forecasts.

Founder of Chinese developer Zhenro faces action on ‘suspected illegal activities’

Ou Zongrong placed under legal compulsory measures after restructuring support agreement expired, according to holding company.

Troubled Chinese developer Country Garden’s loss for first half of 2024 narrows

Foshan-based developer also says revenue for first half of 2024 fell 55 per cent to 102 billion yuan (US$13.9 billion).

Major Chinese developers see sales uptick in September bolstered by stimulus

Analysts question sustainability of gains given uncertainty surrounding the government’s plans for future stimulus.

Country Garden Services sells stake in a mall operator for US$447 million

The stake – about 108 million shares in Zhuhai Wanda – will be acquired by Dalian Wanda and a related party, Zhuhai Wanying.

Struggling Country Garden drops PwC amid turmoil in China property sector

Country Garden drops PwC as its auditor, in another setback for the firm that has lost more than 50 clients this year.

Bank of New York Mellon sues to liquidate Sino Ocean for unpaid debt

Sino-Ocean is joining a growing list of Chinese property developers facing liquidation lawsuits, after a nationwide deleveraging campaign begun in late 2020, sending home sales plunging and causing severe liquidity issues for these home builders.

Poly Property’s sales slump as Beijing’s rescue package brings mixed results

The Chinese state-backed developer saw sales fall by almost a fifth in May, adding to a mixed picture of the impact of Beijing’s historic measures to rescue its crisis-hit real estate segment.

Country Garden’s home sales jump as Beijing’s rescue package boosts developers

Country Garden sold more properties in May, becoming the second major Chinese developer to see turnover improve after Beijing launched a historic rescue package to shore up its battered real estate segment.

Debt-laden China Vanke sells plot of land once earmarked for HQ at huge loss

China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.

Embattled Shimao faces rare winding-up petition from Chinese state-owned bank

Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

China’s new home sales slip again as liquidity crisis persists, buyers sidelined

Chinese developers suffered another dismal month in March as new home sales tumbled 46 per cent from a year earlier. It would be premature to expect a turnaround amid an ongoing liquidity crisis.