Sinic Holdings(新力控股)
Fast facts
- Year Founded
- 2010
Source: Sinic Development Websitewww.sinicdc.com/about.aspx
- HQ Location
- Shanghai, China
- Publicly Traded?
- Yes
Source: Hong Kong Stock Exchangewww.hkex.com.hk/Market-Data/Securities-Prices/Equities/Equities-Quote
- Overseas Operations
- No
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
2020 revenue was reported in RMB and was converted to dollars using the exchange rate from November 2, 2021.Source: Sinic Holdings 2020 Annual Reportmedia-sinic.todayir.com/2021042617320226969734069_en.pdf
Valuation
Valuation is reported as market capitalization. It was converted from HKD using the exchange rate from June 26, 2022 13:48:44.Source: Yahoo Financefinance.yahoo.com/quote/2103.HK/key-statistics/
Employees
Source: Sinic Holdings 2020 Annual Reportmedia-sinic.todayir.com/2021042617320226969734069_en.pdf
Sinic Holdings (Group) Company Limited is a large-scale and comprehensive property developer in the PRC, focusing on the development of residential and commercial properties. The company focuses on Jiangxi Province, the Yangtze River Delta Region, the Greater Bay Region, the central and western China core cities, and other regions with high-growth potential.
The Chinese property industry is in hot water. Sinic Holdings is the latest beleaguered firm. Under the China government’s “three red lines” policy, Sinic Holding has failed to meet one liquidity criteria by having a net gearing ratio of 93%, putting the company in the “yellow camp.” The company failed to repay its USD250 million senior notes due 18 October 2021.
1. The entire issued share capital of Sinic Holdings Group Company Limited is held by Sinic Group Company Limited, which in turn is wholly owned by Xin Hong Company Limited. Xin Hong Company Limited is wholly owned by Honoured Ever Oriental Holdings Limited, the holding vehicle of TMF (Cayman) Ltd. TMF (Cayman) Ltd. is the trustee of the Honoured Ever Trust, a discretionary trust established by Mr. Zhang as settlor, the beneficiaries of which are Mr. Zhang and Mr. Zhang’s family members. Accordingly, each of TMF (Cayman) Ltd., Honoured Ever Oriental Holdings Limited, Xin Hong Company Limited and Sinic Group Company Limited is deemed under the SFO to be interested in the Shares held by Sinic Holdings Group Company Limited. 2. Ms. Wu Chengping is the spouse of Mr. Zhang. Under the SFO, Ms. Wu Chengping is deemed to be interested in the same Shares in which Mr. Zhang is interested.
Source: Sinic Holdings 2020 Annual Reportmedia-sinic.todayir.com/2021042617320226969734069_en.pdf
-
- Name
- Ownership
-
- Sinic Group
Source: Qichachawww.qcc.com/cbase/h0e8e30bb9245451208090524a517741.html
- 78.99%
- Sinic Group
-
- ONE PLUS LIMITED
Source: Qichachawww.qcc.com/cbase/h0e8e30bb9245451208090524a517741.html
- 4.2%
- ONE PLUS LIMITED
- Zhang Yuanlin (张园林), CEO, Chairman, Chairman of Nomination Committee, and Authorized Representatives Tu Jing (涂菁), Director Tam Chi Choi (谭志才), Independent Director Au Yeung Po Fung (欧阳宝丰), Independent Director and Chairman of Remuneration Committee Liu Xin (刘昕), Independent Director Tam Chi Choi (谭志才), Chairman of Audit Committee Yim Lok Kwan (严洛钧), Company Secretary and Authorized Representatives
Source: Sinic Holdings Corporate Informationsinic-live.todayir.com/html/company_info.php
Sinic Holdings Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
Sinic Holdings Reputational Disclosures
Fitch Ratings has downgraded Chinese property developer Sinic Holdings (Group) Company Limited’s Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘RD’ (Restricted Default) from ‘C’ as the company failed to repay its USD250 million senior notes due 18 October 2021. There is no grace period for the bond repayment.
The latest news on Sinic Holdings from across the web
Western Investors Bargain Hunt in China Bond Rout
Turmoil caused by China Evergrande is hitting bonds of other Chinese companies and spurring some emerging-market funds to buy.
China Developer Sinic’s Dollar Bonds Slump Amid Repayment Fears
The dollar bonds of Chinese developer Sinic Holdings Group Co. have come under intense selling pressure this week, following a plunge in the firm’s shares and a credit rating downgrade on concerns over its finances.
Chinese Property Developer Sinic Halts Trading After Sinking 87%
Sinic Holdings Group Co. has halted trading after an 87% slump in its shares Monday afternoon.
