About Yango Group
Yango Group (SZ: 000671) China-based company engaged in the real estate development business and import & export trading business. The company’s property projects include residential buildings and commercial buildings. It operates its businesses principally in East China, South China, Northwest China, and North China, as well as overseas markets.
Yango Group Headquarter Location
18th Floor, Yango Tower, Yangshupu Road No.1058 North Bund
Latest Yango Group News
Dec 28, 2021
8:54 AM IST, 28 Dec 2021 7:03 AM IST, 28 Dec 2021 8:54 AM IST, 28 Dec 2021 Save (Bloomberg) -- China Evergrande Group’s bondholders may soon be short another $255 million as the embattled developer focuses on delivering homes and paying workers instead. (Bloomberg) -- China Evergrande Group’s bondholders may soon be short another $255 million as the embattled developer focuses on delivering homes and paying workers instead. Coupons on two dollar notes are due Tuesday, both with a 30-day grace period before a default can be declared. The developer was labeled a defaulter by international ratings firms for the first time earlier this month after it failed to repay liabilities on time. The developer’s shares, which lost most of their value this year, rose 7.4% as markets reopened Tuesday following a public holiday in Hong Kong. Evergrande on Sunday said it has resumed construction at most of its property projects as authorities push the developer to complete apartments and pay migrant workers. Key Developments: Central Bank Injects Funds (9:20 a.m. HK) The People’s Bank of China added a net 190 billion yuan ($29.8 billion) in short-term funding to the financial system on Tuesday. The money market operation was aimed at keeping liquidity stable into the year’s end. Liquidity released from marginal easing in monetary policy next year will be mainly channeled to key areas such as small businesses, according to a Shanghai Securities News report that cited analysts. Dollar Bond Coupon Due (5 a.m. HK) Evergrande will face an initial interest payment deadline for two dollar bonds Tuesday. The firm has a $50.4 million coupon due on a 7.5% 2023 bond and another $204.8 million tied to a 8.75% 2025 note, according to Bloomberg-compiled data. Yango Shareholder Cuts Stake (10:32 p.m. HK) Taikang Life Insurance and Taikang Pension agreed to sell a combined 7.41% stake in Yango Group Co., according to a filing to the Shenzhen Stock Exchange. After the transactions, Taikang Life Insurance holds a 3.99% stake in Yango while Taikang Pension no longer holds any shares. Yango’s Parent Defaults on Dollar Bonds (2:47 p.m. HK) The parent of Yango Group has become the latest victim of China’s crackdown on the nation’s indebted property sector, defaulting on a dollar bond after missing an interest payment. Fujian Yango Group Co. hasn’t paid the coupon on its 11.875% $296 million note maturing in 2023 following a 30-day grace period, it said in a filing dated Dec. 25 to the Singapore stock exchange. Failure to pay the interest after the grace period constitutes an event of default, according to the bond’s issuance document seen by Bloomberg News. Evergrande Resumes Most Housing Projects (2:41 p.m. HK) Evergrande said it has restarted nearly 92% of its property projects, compared with just about 50% at the beginning of September, according to a company statement released Sunday night. The number of workers involved in the projects that have resumed building has risen 31% from September to 89,000. ©2021 Bloomberg L.P.