HK Stock Market Move | CHINA CINDA (01359) fell nearly 9%, transferring 5.3 billion yuan in debt rights of two companies, which involves multiple project sites or assets in Fuzhou.

CHINA CINDA (01359) fell nearly 9%, and as of the time of writing, it was down 8.78% at HK$1.35, with a turnover of HK$548 million. On the news front, the Fujian branch of CHINA CINDA issued a business announcement on the Alibaba Asset Trading Platform, seeking investors for the transfer of debt assets from two projects, including Fujian Fengyuanzhou Import and Export Trade. As of July 31, 2022, the principal of the debt asset package was RMB 401 million, with interest of RMB 129 million, totaling RMB 530 million. The debtors include Fengyuanzhou Import and Export Trade and Li Jia International Trade in Fujian, with Li Jia Industrial Group, Chen Longji, and Wang Huayu as guarantors. The debtors in the asset package are mainly located in Sanming City and Fuzhou City in Fujian Province, with guarantees including land use rights, real estate mortgages, and joint liability guarantees provided by companies and individuals. Specific collateral includes residential land use rights in Kuiling Village, Yangxia Town, Fuqing City, provided by Fuqing Gaohao Real Estate Development, covering an area of 33,829 square meters, as well as 548 commercial real estate properties in Li Jia Commercial City, Gai Shan Town, Cangshan District, Fuzhou City, provided by Li Jia International Trade, with a total building area of 39,667.45 square meters. In addition, Li Jia Industrial Group, Chen Longji, and Wang Huayu also provide joint liability guarantees.