Sunshine City Group’s Debt Burst Nearly Doubled And The CCP Was Unable To Save The Market

On April 27, local time, Yango Group, one of the most conspicuous real estate companies that have been involved in a debt explosion in the Communist China, reportedly released its latest debts on the same day. The data shows that Yango’s domestic and overseas debt defaults have now skyrocketed to CNY 8.8 billion, nearly double the amount in March.

The report mentioned that since April this year, Yango has been missing its debt deadlines every other week, and that some of its shares listed in Hong Kong have been suspended since the beginning of the year. However, it is worth noting that Yango’s stock price once doubled in March after nine consecutive trading days on the Chinese stock market, but at that time, its debt climbed to more than CNY 5 billion. Currently, Yango’s share price has plummeted to about two yuan (US$0.3).

Analysts pointed out that, as Miles Guo revealed earlier in his Grand Live Broadcast, Yango’s upsurge in March this year was only the result of the continued manipulation of its stock market in order to maintain its superficial prosperity of Hong Kong shares and A-shares. Now, the CCP is allowing Yango’s debt to explode and its inability to pull the stock market shows that the CCP’s financial preparation and policy measures to deal with future real estate debt crises are beyond its capacity.