China

Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday

Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.

China’s Yihua Enterprise Group Co has defaulted on yet another onshore bond, having recently extended payments on two deals that were set to mature this month.

A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.

Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.

China Everbright Bank Co relied on the syndicate team running its deal for a $700m floating rate note on Monday.

DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.

China’s Belle International Holdings has returned to the loans market to refinance some of its debt, but has opted for a club loan this time around in a bid to cut costs associated with underwriting.

Li Auto, a Chinese electric vehicle maker, has opened books for an offering of American Depository Shares (ADS) on the Nasdaq.

Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.

Hangzhou Tigermed Consulting, a biopharmaceutical research and development service provider, has covered books on its secondary public offering in Hong Kong on the first day of taking orders.

In this round-up, China’s industrial profits jump for a second consecutive month, the securities regulator tweaks requirements around information disclosure by listed companies, and the Chinese finance minister says the country must continue to keep government debt risk at bay.