Hong Kong-Listed China Property Giant China South City Holdings with $7.7 Billion (HKD 60.9 Billion) Liabilities Ordered by Hong Kong Court to Liquidate & Shares Suspended (11/8/25), Founded in 2002 by Messrs Cheng Chung Hing, Leung Moon Lam, Ma Kai Cheung, Sun Kai Lit, Cliff & Ma Wai Mo, IPO on Hong Kong Exchange (HKEX) in 2009, Winding-Up Petition Filed by Trustee (Citicorp International) of USD Bonds
11th August | Hong Kong
Hong Kong-listed China property giant China South City Holdings with $7.7 billion (HKD 60.9 billion) liabilities has been ordered by a Hong Kong court to liquidate, with shares suspended (11/8/25) following the Hong Kong court order. China South City was founded in 2002 by Messrs Cheng Chung Hing, Leung Moon Lam, Ma Kai Cheung, Sun Kai Lit, Cliff & Ma Wai Mo. China South City IPO on Hong Kong Exchange (HKEX) in 2009. The winding-up petition was filed by the trustee (Citicorp International) of China South City Holdings USD bonds. In 2025 June, China South City Holdings creditors filed a lawsuit in Hong Kong against China state-owned & largest shareholder for $1.4 billion debt under the Keepwell Provision effected on 9th August 2022 on senior bonds (Keepwell Provision is an agreement to providing financing to a subsidiary for specified duration). The state-owned shareholder of China South City is Shenzhen SEZ Construction & Development Group with 29% shareholding. China South City current market value (14/6/25) is around $341 million (14/6/24), with share price -18% YTD, -51% in the last 12 months, and -79% in the last 5 years. China South City Holdings – China South City Holdings Limited (“the Company”), along with its subsidiaries (“the Group”), is one of the leading developers and operators of large-scale integrated logistics and trade centers in China. The Group provides a comprehensive trading platform for domestic and international wholesale suppliers, buyers, manufacturers, distributors and end-users of products ranging from raw materials to finished products. With its unique business model, the Group not only sells and leases well-designed quality trade center units for businesses to display and sell their products, but also provides the occupants and their clients with one-stop convenient supply chain solutions that include a full range of facilities and services. Moreover, to exhibit the value of its unique “One Body with Two Wings” business model, five pillars of ancillary services, namely one-stop warehousing and logistics services, convention and exhibition services, outlet operation and management, e-commerce platform and property management have been included in each of our projects to complement the core business of trade center development and operation. This successful and proven business model was first pioneered by China South City Shenzhen and has been replicated in strategic locations across China such as Nanchang, Xi’an, Nanning, Harbin, Zhengzhou and Hefei to satisfy the needs of businesses and industries in their respective regions. The Company’s stock has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 30 September 2009 under stock code 1668. History – The inception of China South City Holdings Limited dated back to 2002 when our five founding shareholders (Messrs Cheng Chung Hing, Leung Moon Lam, Ma Kai Cheung, Sun Kai Lit, Cliff and Ma Wai Mo) came together to realize their vision of setting up quality logistics and trade centers in China to provide cost-effective supply chain solutions to manufacturers. Each of the founding shareholders has extensive experience in their respective industries including textile and clothing, metals and plastics and paper and printing industries, which are the key industries in the Pearl River Delta.
“ Hong Kong-Listed China Property Giant China South City Holdings with $7.7 Billion (HKD 60.9 Billion) Liabilities Ordered by Hong Kong Court to Liquidate & Shares Suspended (11/8/25), Founded in 2002 by Messrs Cheng Chung Hing, Leung Moon Lam, Ma Kai Cheung, Sun Kai Lit, Cliff & Ma Wai Mo, IPO on Hong Kong Exchange (HKEX) in 2009, Winding-Up Petition Filed by Trustee (Citicorp International) of USD Bonds “
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China Logistics & Trade Centres Property Developer China South City Creditors File Lawsuit in Hong Kong Against China State-Owned & Largest Shareholder for $1.4 Billion Debt under Keepwell Provision Effected on 9th August 2022 on Senior Bonds, Keepwell Provision is an Agreement to Providing Financing to a Subsidiary for Specified Duration, State-Owned Shareholder of China South City is Shenzhen SEZ Construction & Development Group with 29% Shareholding, China South City Market Value is $341 Million, Share Price -18% YTD, -51% in Last 12 Months, -79% in Last 5 Years
14th June 2024 – China logistics & trade centres property developer China South City creditors have filed a lawsuit in Hong Kong against China state-owned & largest shareholder for $1.4 billion debt under the Keepwell Provision effected on 9th August 2022 on senior bonds (Keepwell Provision is an agreement to providing financing to a subsidiary for specified duration). The state-owned shareholder of China South City is Shenzhen SEZ Construction & Development Group with 29% shareholding. China South City current market value is around $341 million (14/6/24), with share price -18% YTD, -51% in the last 12 months, and -79% in the last 5 years.
China South City Holdings Limited (“the Company”), along with its subsidiaries (“the Group”), is one of the leading developers and operators of large-scale integrated logistics and trade centers in China. The Group provides a comprehensive trading platform for domestic and international wholesale suppliers, buyers, manufacturers, distributors and end-users of products ranging from raw materials to finished products. With its unique business model, the Group not only sells and leases well-designed quality trade center units for businesses to display and sell their products, but also provides the occupants and their clients with one-stop convenient supply chain solutions that include a full range of facilities and services. Moreover, to exhibit the value of its unique “One Body with Two Wings” business model, five pillars of ancillary services, namely one-stop warehousing and logistics services, convention and exhibition services, outlet operation and management, e-commerce platform and property management have been included in each of our projects to complement the core business of trade center development and operation. This successful and proven business model was first pioneered by China South City Shenzhen and has been replicated in strategic locations across China such as Nanchang, Xi’an, Nanning, Harbin, Zhengzhou and Hefei to satisfy the needs of businesses and industries in their respective regions. The Company’s stock has been listed on the Main Board of The Stock Exchange of Hong Kong Limited since 30 September 2009 under stock code 1668.
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