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China Court Orders Hong Kong-Listed Real Estate SRE Group to Sell Majority Stake in Joint-Venture Shanghai Jinxin after Failing to Pay $629 Million Debts Since 2022 with Additional $639,000 Fee, Original Loan of $707 Million (CNY 5 Billion) by Industrial & Commercial Bank, Agricultural Bank of China, China Construction Bank & Shanghai Pudong Development Bank, SRE Group is a Unit of China Minsheng Investment Group

Sep 20, 2024

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China Court Orders Hong Kong-Listed Real Estate SRE Group to Sell Majority Stake in Joint-Venture Shanghai Jinxin after Failing to Pay $629 Million Debts Since 2022 with Additional $639,000 Fee, Original Loan of $707 Million (CNY 5 Billion) by Industrial & Commercial Bank, Agricultural Bank of China, China Construction Bank & Shanghai Pudong Development Bank, SRE Group is a Unit of China Minsheng Investment Group

20th September 2024 | Hong Kong

A China court has ordered Hong Kong-listed real estate SRE Group to sell majority stake in joint-venture Shanghai Jinxin after failing to pay $629 million debts since 2022, and to pay additional $639,000 fee. The original loan of $707 million (CNY 5 billion) to SRE Group was arranged by Industrial & Commercial Bank, Agricultural Bank of China, China Construction Bank & Shanghai Pudong Development Bank. SRE Group is a unit of China Minsheng Investment Group. SRE Group – SRE Group was established in 1993 and listed in the Stock exchange of Hong Kong in 1999 (Stock code: 01207.HK). In the course of more than 20 years of development, SRE Group insists on ploughing into Shanghai and laying emphasis on the city actively. In Shanghai, it has developed more than 20 high-end real estate projects, such as Rich Gate, Oasis Albany Garden and so on. At the same time, SRE Group has laid out business in London, San Francisco, Sydney, Hong Kong, Beijing, Shenzhen, Guangzhou, Shenyang, Chengdu, Changsha, Dalian and other cities. SRE Group is committed to take the road of integration and development—— “finance + industry + real Estate” and creates value for shareholders and customers.

“ China Court Orders Hong Kong-Listed Real Estate SRE Group to Sell Majority Stake in Joint-Venture Shanghai Jinxin after Failing to Pay $629 Million Debts Since 2022 with Additional $639,000 Fee, Original Loan of $707 Million (CNY 5 Billion) by Industrial & Commercial Bank, Agricultural Bank of China, China Construction Bank & Shanghai Pudong Development Bank, SRE Group is a Unit of China Minsheng Investment Group “

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China Court Orders Hong Kong-Listed Real Estate SRE Group to Sell Majority Stake in Joint-Venture Shanghai Jinxin after Failing to Pay $629 Million Debts Since 2022 with Additional $639,000 Fee, Original Loan of $707 Million (CNY 5 Billion) by Industrial & Commercial Bank, Agricultural Bank of China, China Construction Bank & Shanghai Pudong Development Bank, SRE Group is a Unit of China Minsheng Investment Group

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