Core Viewpoint - The company Huazhong City has been ordered to be liquidated by the High Court, marking a significant event in the ongoing crisis within the Chinese real estate sector [1] Company Summary - On August 11, Huazhong City (01668.HK) disclosed that it was ordered to be liquidated by the High Court [1] - The court appointed Zhou Weicheng and Pan Luyang from Fushigao Consulting Ltd. as joint and several liquidators for the company [1] - Huazhong City is the fifth Chinese property company to be ordered for liquidation during the current industry downturn, and it is the first developer with state-owned background to face such a fate [1] Industry Summary - According to incomplete statistics from CRIC, four other domestic property companies, including Xinli, Dafang, Jiayuan International, and China Evergrande, have also been ordered for liquidation in this round of deep industry adjustment [1] - Despite efforts over nearly three years, including asset disposals and financing activities supported by state-owned capital, Huazhong City has failed to achieve fundamental recovery and is now heading towards liquidation [1] - The company's stock has been suspended from trading and will continue to be on hold [1]
华南城被颁令清盘，华南城股票将继续停牌