In 2022, although the system is somewhat loose, the housing market is high and cold, and the repayment pressure of housing enterprises is still great. On the night of July 3, Shimao Group announced on the Hong Kong Stock Exchange that the company could not repay the interest of the $654.38 billion public offering fund bonds. It is understood that this document expires on July 3, 2022, accounting for 4.75% in coupon rate, and the accumulated capital and accrued unpaid loan interest of $6,543.8+$23 million have expired.

For this matter, Shimao Group said that the company will strive to actively negotiate with the debtor again to find the best solution, and then try its best to treat the debtor fairly and ensure the rights and interests of all stakeholders of the group company.

In addition, on June 5438+ 10 this year, Pengcheng downgraded the default rating of overseas investors of Shimao Group from "BB" to "B-", and the high-end unsecured rating dropped from "BB" to "B-" just like the sold high-end unsecured documents, and the utilization rate was "RR4", so all ratings were under negative observation again.

In February, Moody's downgraded Shimao Group's corporate family rating (CFR) from "B2" to "Caa 1", which means that the company has entered the category of default, and it is likely that part or all of its debts will default, and its future outlook will be changed from being on the watch list to being negative. In view of the decline in rating, it is generally due to the low security performance of WTO in maintaining liquidity.

In fact, due to great changes in the natural environment of the real estate industry in China and the accumulation of epidemic, all housing enterprises have been hit, and Shimao Group has also fallen into an economic crisis. So far, the annual report of 202 1 has not been released.

According to the financial report, as of June 30, 20021year, Shimao Group's total liabilities were 463.63 billion yuan, and its interest-bearing liabilities were 654.38+0645 billion yuan, but its cash and quasi-currency in its account were only 74.77 billion yuan, which was far from covering the interest-bearing liabilities. In addition, when the WTO expires in 2022, its total liabilities for open market operations are about 654.38+03 billion yuan and 2.5 billion US dollars.

Adding fuel to the fire is that in recent years, the market environment encountered by housing enterprises has not improved overall. From June to May, 2022, the total contracted sales of Shimao Group was about 34.26 billion RMB, which was about 72% lower than 202 1 21790 million RMB in the same period. How to solve the huge debt is undoubtedly the biggest challenge that Shimao Group is facing at present.