This post was originally published on this site
https://i-invdn-com.investing.com/news/fa8a2f803ea2ddf92359d55091dcde0a_M.jpg
China’s CSI300 Real Estate Index hit a two-month high on Tuesday, and has rebounded almost 20% from its November low, bolstered by signs of policy easing.
Tahoe Group, a struggling developer whose shares have surged 21% this week, cautioned investors against risks on Wednesday.
The company had defaulted on 49.6 billion yuan worth of borrowing at the end of November, and is seeking solutions through a debt restructuring, Tahoe said in an exchange filing.
Sichuan Languang, which had defaulted on debts worth 25.9 billion yuan, said the company had made little process in debt restructuring.
“Currently, the company’s share price has sharply deviated from its fundamentals, and our business conditions continue to worsen,” Languang cautioned in a statement, after a 67% surge in its share price this month.
Beijing Dalong Weiye Real Estate Development Co, which also saw its share price jump over 60% so far this month, warned in a statement on Wednesday that its stock valuation is three times the industry average.
“We hope that investors pay attention to market risks, make rational decisions, and invest prudently,” Dalong said.
