China: AKM Industrial, Tesla Motors, Greenland Hong Kong Holdings, Sunac China Holdings, Agile Property Holdings and more

• Flexible printed board player AKM Industrial (1639 HK) has announced the approvals for the pre-conditions attached to the Scheme are in the final stages.
• Separately, the Court date for sanctioning the Scheme has been listed for the 19 July.
• Trading at a gross spread to terms of 3.6%, including the final dividend.

• Tesla Inc. is making some Chinese buyers sign a written guarantee that they will not resell their cars within 12 months, in an apparent effort to curb after-market speculation.
• People who want to buy cars in bulk need to sign a letter of commitment that stipulates they must pay the firm liquidated damages of 20% of the order value if they resell the cars within a year of receiving them, Tesla told Caixin.
• Whether such a guarantee is enforceable is another matter. A consumer lawyer who asked not to be named told Caixin that Tesla would have little chance of holding buyers to such rules under Chinese consumer law, which allows people to freely dispose of the goods they purchase.

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Sunac China Holdings
2. Adaro Energy
3. Logan Property Holdings
4. Sino Ocean Land
5. Powerlong Real Estate Holdings

and more…

Lucror Analytics Weekly Wraps provide an overview of all Morning Views comments and reports published by our analyst team in the past week, and also showcase a list of the most-read reports.

In this Insight:

1. Sunac China Holdings
2. Adaro Energy
3. Logan Property Holdings
4. Sino Ocean Land
5. Powerlong Real Estate Holdings

and more…

• Sunac China, the country’s third-largest developer, is seeking a two-year payment extension on a 4 billion yuan ($627.85 million) onshore bond due April 1, Caixin learned from several bondholders.
• In return, Sunac’s billionaire Chairman Sun Hongbin proposes to provide an unlimited joint liability guarantee.
• The move followed rating downgrades by all three global rating companies and a series of negative developments involving other developers including delays in making debt repayments.

The Chinese Property Weekly focuses on providing updates in the Chinese real-estate sector, including recent regulatory and company developments, top and bottom performers, rating actions, as well as a list of bond maturities in the next 30 days.