China $800 Million RiseSun Real Estate Development Pays $149 Million (CNY 1.1 Billion) Debt to Subsidiary Roiserv Lifestyle Services with Physical Assets (12,689 Parking Spaces, 5,479 Storage Rooms & 112 residential Apartments & Commercial Units), Defaulted on USD Loans in 2023 & Reported $1.1 Billion Defaulted Loans in 2024
21st June | Hong Kong
China RiseSun Real Estate Development ($800 million market value) has paid $149 million (CNY 1.1 billion) debt to subsidiary Roiserv Lifestyle Services with physical assets (12,689 parking spaces, 5,479 storage rooms & 112 residential apartments & commercial units), RiseSun Real Estate Development defaulted on USD loans in 2023, and reported $1.1 billion outstanding defaulted loans in 2024. Profile (Translated) – Rongsheng Real Estate Development Co., Ltd. (hereinafter referred to as “Rongsheng Development”) was established in 1996 and successfully landed on the Shenzhen Stock Exchange on August 8, 2007. It has been ranked 16th among the top 100 real estate companies in China for three consecutive years from 2017 to 2019. After more than 20 years of development, Rongsheng Development has rapidly grown into a well-known large-scale multi-industry comprehensive group company integrating real estate development, health tourism investment, financial investment, Internet innovation and other businesses. With forward-looking strategic thinking and steady development concepts, as of the end of 2018, Rongsheng Development had a land reserve of 36.1354 million square meters, total assets of 227.762 billion yuan, annual sales of over 100 billion yuan, and entered nearly 70 cities in 19 provinces/municipalities, with more than 250 projects developed or under development. At present, a strategic layout of “two horizontal, two vertical, and three clusters” has been initially formed along the Yangtze River, Longhai Railway, Beijing-Shanghai, Beijing-Guangzhou Railway, and the “Beijing-Tianjin-Hebei Urban Agglomeration”, “Yangtze River Delta Urban Agglomeration”, and “Pearl River Delta Urban Agglomeration”. Rongsheng Development has always been committed to “creating wealth, serving the society, cultivating talents, and serving the country”, with “pursuing excellence” as its core value, adhering to the corporate spirit of “integrity, humility, seriousness, hard work, struggle, and innovation”, and upholding the brand concept of “creating a new life”. We strive to become a good company that brings honor to customers, satisfaction to shareholders, and pride to employees.”
“ China $800 Million RiseSun Real Estate Development Pays $149 Million (CNY 1.1 Billion) Debt to Subsidiary Roiserv Lifestyle Services with Physical Assets (12,689 Parking Spaces, 5,479 Storage Rooms & 112 residential Apartments & Commercial Units), Defaulted on USD Loans in 2023 & Reported $1.1 Billion Defaulted Loans in 2024 “
China $800 Million RiseSun Real Estate Development Pays $149 Million (CNY 1.1 Billion) Debt to Subsidiary Roiserv Lifestyle Services with Physical Assets (12,689 Parking Spaces, 5,479 Storage Rooms & 112 residential Apartments & Commercial Units), Defaulted on USD Loans in 2023 & Reported $1.1 Billion Defaulted Loans in 2024
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