HK Stock Market Move | SHIMAO GROUP (00813) falls by over 13%, with July contract sales decreasing by approximately 27% compared to the same period last year.

SHIMAO GROUP (00813) fell more than 13%, with a drop of 13.56% as of the time of release, closing at HKD 0.51, with a turnover of HKD 45.097 million. On the news front, on the evening of August 8th, SHIMAO GROUP announced that for the seven months ending on July 31, 2025, the group's total accumulated contract sales amounted to approximately RMB 15.51 billion, a decrease of 22% year-on-year; The total accumulated contract sales area of the group was 1.2738 million square meters. The group's contract sales in July 2025 amounted to approximately RMB 1.987 billion, a decrease of about 27% year-on-year. SHIMAO GROUP previously announced that all restructuring conditions of the company have been met, and the effective date of the restructuring is set for July 21, 2025. The restructuring involves the complete release and exemption of the company, existing subsidiary debtors, and several liabilities under existing debts and/or related to existing debts in exchange for issuing new debt instruments to the planned creditors on the effective date of the restructuring in accordance with the terms of the plan. In addition, the voluntary conversion period under the mandatory convertible bonds will end on August 11.