Country Garden was petitioned by creditors for liquidation, involving an outstanding loan of HK$ 1.6 billion.

On February 28,Country GardenAn inside story was announced on the Hong Kong Stock Exchange, that is, Ever Credit Limited Company filed a lawsuit against the Hong Kong High Court yesterday (February 27th).Country GardenThe liquidation petition. The contents of the petition are related to the petitioner (lender) andCountry GardenUnpaid term loans with principal of about HK$ 1.6 billion and accrued interest between (borrowers).

According to section 182 of the winding-up ordinance, ifCountry GardenThe final liquidation by petition is made on or after the commencement date without the approval order of the High Court.Country GardenThe transfer of shares will be invalid.

In this regard,Country GardenIt is said that the company will strongly oppose the petition. The submission of the petition does not mean that the petitioner can successfully liquidate the company. On the date of the announcement, the Hong Kong High Court did not issue a liquidation order to liquidate it. The company will seek legal advice and take all necessary actions to actively and properly defend it with the consulting team.

According to the announcement, the Hong Kong High Court has set May 17, 2024 as the date for the first hearing of the petition.

Affected by this message,Country GardenOn the 28th, the Hong Kong stock market opened sharply, and once fell more than 12% in intraday trading. As of midday, its share price fell to HK$ 0.63 per share, with a market value of HK$ 17.633 billion.

According to the inquiry, Ever Credit Limited (Forever Credit Limited) was established in 2009, and it is a Hong Kong company that has obtained a money lender license under the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong). Its parent company is Jiantao Group.

Jiantao Group is an investment holding company mainly engaged in manufacturing and selling copper-clad panels.Country GardenOne of the shareholders of.

According to the announcement issued by the group in August 2023, Ever Credit Limited worked with it on December 1, 2021.Country GardenA financing agreement was concluded and a term loan of HK$ 1.88 billion was lent. At that time, both parties agreed to repay the loan by installments.

Country GardenThe debt amount of the Jiantao Group involved is very low in the overall interest-bearing liabilities abroad, and the radical action of a single creditor will not have a significant impact on the company’s security, normal operation and overall restructuring of overseas debts. "Country GardenAspect to interface news representation.

Insiders pointed out that,The petition for liquidation is the right of every creditor, and any creditor can apply for it, but the application does not mean that it will be liquidated.Referring to other cases of listed real estate enterprises in default in the industry, it is more common for individual creditors to apply to the Hong Kong court for company liquidation.

Since the liquidity crisis appeared in August last year,Country GardenA series of measures, such as salary reduction for senior executives, reducing administrative expenses and selling back domestic bonds, have been implemented to "save themselves" to alleviate the liquidity pressure at this stage.

In terms of debt handling, as of now,Country GardenNine domestic bond extensions have been completed, involving a total principal of about 14.7 billion yuan, and the maturity has been extended by three years as a whole. This isCountry GardenIn a short period of time, it eased some debt pressure.

In terms of overseas debt,Country GardenAt present, there are 15 public dollar bonds with a principal of about 9.3 billion US dollars. Last October,Country GardenAccording to the company, the company has started the restructuring of overseas debts, and hired CICC and Hualian Nuoji (China) as financial consultants to help assess the company’s capital structure and liquidity and formulate overall solutions.

In addition to the debt crisis, it is currentlyCountry GardenGenerally speaking, it is still more important to ensure delivery and operation.

according toCountry GardenThe latest disclosure in January, January-December 2023,Country GardenMore than 600,000 houses have been delivered, with a total delivery area of 71.62 million square meters, involving 249 cities in 31 provinces.

By 2024,Country GardenThe estimated delivery volume of will exceed 480,000 sets, according toCountry GardenYang Huiyan, Chairman of the Board of Directors, said earlier that,Country GardenThe delivery challenge of has entered the "deep water area" this year.

With the gradual landing of the "white list" of real estate projects and the continuous optimization of real estate financing policies,Country GardenofThe financing situation also ushered in a new situation.

according toCountry GardenInsiders recently revealed that at presentCountry GardenThere are 135 projects approved to enter the "white list", and these shortlisted "white list" projects will receive financing support, which will help alleviate.Country GardenAt present, the financial pressure is pushing forward the guarantee of delivery, asset revitalization, and improving the sustainable operation ability of the project.

Tencent’s acquisition of Ocean Music has made it the market leader. Do you still have any fun with Netease Cloud Music?

On July 14th, according to The Wall Street Journal, Tencent has agreed to acquire Ocean Music. Tencent will acquire the controlling stake in Ocean Music by cash and asset injection, and the specific amount has not been announced. QQ music is mainly injected by means of asset injection, and Ocean Music will acquire the assets of QQ music. The deal values Ocean at about $2.7 billion, and Tencent Holdings will increase its stake in Ocean Music from 16% to about 60%.

The interface news asked Tencent and Ocean Music respectively, and neither side responded.

In the public view, Ocean Music Group is a slightly unfamiliar company. This music group was founded in April 2014. It owns music assets such as Cool Dog Music, Cool Me Music and Rainbow Music, as well as digital music copyright service companies such as Ocean Music and Source Music.

In March 2015, Xie Guomin, the founder of Ocean Music and former vice president of Sina, conducted the merger of Kuwo Music and Kugou Music, and with the accumulated user base of "Two Kus", it became the first echelon of online music in one fell swoop.

According to the data of Speedway Research, an online music market research institution, in the first quarter of 2016, before Tencent became a shareholder, Cool Dog Music and Cool Me Music accounted for more than 30% of the market share, while QQ Music accounted for 18.91%. Now, after Tencent buys Ocean, Tencent will occupy half of this market and become the leading enterprise in the online music market in China.

According to the Wall Street Journal, after the transaction is completed, Tencent’s music business will be valued at 6 billion US dollars, and the business will be operated as a subsidiary of Tencent Holdings.

According to market research firm iiMedia Research, in the first quarter of 2016, China’s mobile music service market had 449 million users, exceeding the population of the United States, which also made China the largest mobile music service market in the world.

In May 2016, it was reported that Ocean Music had been trying to go public in the United States, raising between 300 million and 600 million dollars, which was operated by Goldman Sachs Group and Morgan Stanley. However, because the US stock market is not optimistic about online music, the IPO of Ocean Music was once rumored to be stranded, and the global capital market is wary of music technology companies that are prone to losses.

Take Spotify as an example, as the representative of the global music streaming media platform, Spotify, which has been developing for nearly 10 years, is still on the financing road. Spotify has raised funds from 26 investment institutions. In March this year, Spotify just completed the ninth financing of $1 billion convertible bonds, and made several strict guarantees related to IPO to investors.

From the perspective of the global Internet music industry, only Pandora has successfully listed, and its share price has dropped from $70 at the peak to $13 today. When it went public in 2011, it raised $234 million. Last year, the IPO of the French music company Deezer was also postponed.

Analysts said that after Tencent’s shareholding, the merged company may be IPO; in the future; Compared with the original ocean music, the possibility of success will be higher; However, how to make money from streaming music will be the key factor to convince the capital side.

According to international federation of the phonographic industry (IFPI) data, China’s record music industry grew by 63.8% in 2015, making it the second largest contributor to growth after Japan. Last year, the output value of China’s record industry reached US$ 169 million, ranking 14th in the world. It can be said that the overall progress of the domestic music market has also provided imaginative growth space for China Internet music companies.

The competition layout of the giants in the music field has also intensified. On July 9, 2015, the National Copyright Administration issued the Notice on Ordering Online Music Service Providers to Stop Unauthorized Dissemination of Music (known as the "most restrictive order in history"), requiring online music service providers to stop unauthorized dissemination of music works, and ordering all music service providers to offline all unauthorized music works before July 31. The "most restrictive order" not only ended the "free era" of online music, but also made China’s online music industry gradually move towards the track of legalization, systematization and diversification, and the investment scale of major platforms in copyright was also increasing.

Ali Mutual Entertainment has shrimp and Tiantian Music, and Netease Cloud Music, a subsidiary of Netease, has also gained many fans. In Q1 2016, after Ali Music ranked QQ Music with 12.08% market share, Netease Cloud Music accounted for 3%.

The competition for copyright is also continuing, and obtaining the "sole broadcasting right" is an important way to circle the powder. According to the report "Insight into Online Music Market in China in 2015", among many music platforms, QQ music has taken the lead in breaking through ten million orders of magnitude in copyright, with obvious copyright advantages. What is certain is that after the completion of the shareholding, the advantages of Tencent Music will be further expanded.

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May day overturned the first body.


A Xin, the lead singer, interacts with fans on the stage. Our reporter Wu Ping photo


  (Reporter yan hou) Last night, the "Mayday DNA Creation Concert" was held in Beijing’s Capital Gymnasium. From the beginning, the audience stood up and shouted the whole process, and there were also scenes of chorus from time to time.


  Yesterday, the attendance rate of Shouti reached more than 90%. At 7: 30 pm, the video of "Flying Car" began to play on the big screen of the stage. The crazy flying car lens made fans feel as if they were there, and they exclaimed from time to time. Suddenly, the white screen on the stage was unveiled, and the car in the video just appeared above the stage. Mayday started with a series of fast songs, such as "Rolling Car", "Booming Liver", "God of Gambling", "Long Live Love" and "Hosee", which made the fans crazy at once, and the audience stood up and waved their arms and shouted. A credit, the lead singer, greeted the Beijing fans with "Long time no see". A Xin said, "Is everyone happy? I think some people are unhappy. Before leaving here tonight, everyone should be really happy. " Then "You Are Not Really Happy" sounded, and all the fans sang with A Xin.


  When the following songs, such as Live Above Life Below, Crazy World, An Apple, Where My Heart Has Not Collapsed, Content, Sea of Life, sounded, almost all the fans sang with A Xin on the stage, and the whole audience became karaoke. Apart from singing the songs of the new album, Mayday didn’t disappoint the fans, and classic tracks such as Away from the Earth’s Surface, the Monkey King, Stubborn and Gentleness made the fans enjoy themselves.

  Related links:



  • Mayday drummer Guan You bought a stolen car by mistake and was investigated by the police 2009-07-10

  • May Tian Guanyou was involved in the stolen car scandal and insisted that he was innocent (Figure) 2009-07-09

  • On May Day, 120,000 people sang in Shanghai, and the stage was extended to be close to the fans.