Sunac China Holdings Ltd (01918.HK) saw its stock soar 5.33% on Monday's trading session following the successful completion of debt restructuring for one of its projects in Beijing.
According to the company's statement, China Credit Trust confirmed that the RMB 1.635 billion previously paid by Sunac was used to settle the principal debt for the Sunac Opus project located in the Chinese capital.
This debt restructuring is seen as a positive development for the troubled real estate developer, which has been grappling with liquidity issues amid the broader downturn in China's property market. Investors appear to be viewing the debt resolution as a step towards Sunac's financial recovery.
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