Gate News message, April 22 — Kaijian (01098.HK), a Hong Kong-listed property developer, announced on April 21 that its indirect wholly-owned subsidiary Shanghai Heqiang Real Estate Development Co., Ltd. will sell an 80% stake in Shanghai Junxin Property Co., Ltd. to co-sellers for a total consideration of 116.4 million yuan ($16.3 million). Kaijian’s share of the proceeds is 94.4 million yuan, with a net gain of approximately 3.5 million yuan recorded on the transaction.
The target company primarily develops residential properties, parking spaces, and self-owned apartments in Waixigang Town, Jiading District, Shanghai. As of the announcement date, all residential units have been sold and delivered. Remaining assets include 434 unsold parking spaces and self-owned apartments with a total building area of approximately 10,442.6 square meters. Kaijian stated the sale aims to optimize asset utilization efficiency, recover invested capital, and meet current liquidity needs including tax payments and general operational expenses, given the company’s current financial condition and overall real estate market outlook.
Kaijian, which entered a debt crisis, is advancing its offshore debt restructuring. On March 16, the company announced a preliminary restructuring agreement with a significant proportion of creditors, including members of the Ad Hoc Group (AHG). The plan will be implemented through two mutually conditional debt restructuring arrangements: the “New Choice Plan” and the “Kaijian Plan.” As of late March, two AHG institutions representing approximately 65% of the group’s holdings approved the latest proposal. However, by April, divisions emerged within AHG, with two holders representing about 15% of outstanding notes agreeing to the plan, while four remaining holders with about 10% of shares expressed dissatisfaction and indicated interest in pursuing liquidation proceedings against the company.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
VanEck: Bitcoin Bullish Signals Emerge Amid Funding Rate Dip
Fund management firm VanEck identified two strong bullish indicators for Bitcoin on April 24, according to analysis from the firm's digital assets analysts Patrick Bush and Matthew Sigel. The analysts highlighted Bitcoin's funding rate and declining hash rate as historically reliable signals
CryptoFrontier8m ago
Samsung Electro-Mechanics Stock Surges 93% on Strong AI Server Demand
Gate News message, April 27 — Samsung Electro-Mechanics shares jumped 93.37%, significantly outpacing South Korea's Kospi benchmark index (up 28.17%) and the electronics sub-index (up 31.42%), as investors bet on AI infrastructure demand for its FC-BGA substrates and multilayer ceramic capacitors (M
GateNews9m ago
Hyundai US EV Sales Surge 40% in March as Gasoline Prices Rise
Gate News message, April 27 — Hyundai Motor's US electric vehicle sales jumped approximately 40% in March compared to February, driven by rising gasoline prices despite the company's ineligibility for federal EV tax credits.
The Ioniq 5 led the surge with 4,425 units sold in March, up from 3,234 in
GateNews19m ago
TSMC 2-nanometer “inside man” sentencing upheld: Former engineer gets 10 years, Tokyo Electron fined 150 million New Taiwan dollars
Taipei District Court of first instance ruled that TSMC’s 2-nanometer “inside man” case resulted in guilty verdicts for four former employees of TSMC. The main defendant, Chen Liming, was sentenced to 10 years; the others received 6, 3, and 2 years, respectively. The court found that they stole and leaked core technologies below the 14-nanometer range, and assisted Tokyo Electron in entering TSMC’s advanced manufacturing process. TEL Taiwan was fined 150 million yuan (NTD 150 million), including 100 million yuan (NTD 100 million) to TSMC and 50 million yuan (NTD 50 million) to the government. This is the first case in Taiwan under the “National Security Law” where a corporate entity was prosecuted to a final verdict, and it is also a related case involving a foreign technology company.
ChainNewsAbmedia23m ago
Bitcoin spot ETF weekly net inflow of $824 million, with IBIT pulling in $733 million
According to data released by SoSoValue on April 27, during the week from April 20 to April 24 (U.S. Eastern Time), the weekly total net inflow into U.S.-listed spot Bitcoin ETFs reached $824 million, marking the fourth consecutive week of positive inflows. During the same period, the weekly total net inflow into spot Ethereum ETFs reached $155 million.
MarketWhisper1h ago
French Listed Company Capital B Increases Bitcoin Holdings by 6 BTC to 2,943 Total
Gate News message, April 27 — French listed company Capital B (ALCPB) announced it purchased 6 additional bitcoins for 400,000 euros, bringing its total Bitcoin holdings to 2,943 BTC.
The company's Bitcoin holdings have generated a year-to-date return
GateNews1h ago
