Agile, which has the reputation of being one of the "Five Tigers of South China", has been standing firm until now, however, it is suddenly announced that the capital chain is broken, which may not be expected by anyone. Although no one would have expected it, in fact, who had a better time with the real estate company during this time?
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For a long time, in the real estate industry, Agile, Country Garden, Evergrande, R&F and Hehe Sheng, known as the South China Five Tigers. I believe that before Country Garden and Evergrande, everyone already knows what things and problems, but all along, during this time, Agile has no problem after all, and before, since hitting the bottom on April 19, its stock price has risen by nearly 90% when it is at its lowest point. As of May 14, his market capitalization was about HK$3.028 billion.
Source, CBN
On May 14, Agile announced that in view of the liquidity pressure faced by the company, as at the date of this announcement, the company has not paid the relevant interest on the 2020 notes, and the grace period for the interest payment of the notes expires on May 13, 2024, and it is expected that it will not be able to meet all payment obligations under its offshore two business projects. Interest on one United States dollar note that was not paid during the grace period was $4.83.
Such an announcement, that is, their capital chain is broken, and they are unable to repay the principal and interest of the notes. Although the previous debt has been deferred for several years, at this time, it is once again impossible to meet all the debts.
I wonder who else will buy off-plan properties now? Although some people said that the Agile he just bought last month will not be delivered until June 2025, some people still expect that they may not be able to deliver the house in 2125...... But you don't have to worry, as long as it is a quasi-existing house, it will not be unfinished. Because if you don't hand over the building, you won't be able to get the bank's money, and you'll die faster.
Agile is headquartered in Sanxiang Town, Zhongshan, and their group has real estate, life, environmental protection, Yacheng, etc., with a variety of businesses, various categories, and many varieties.
As early as 1992, Agile Group entered the real estate market, and their first real estate project was Zhongshan Agile Garden. As of today, they have more than 250 projects in 79 cities in China and abroad.