Sunac China Shares Plunge After Winding-Up Petition

Sunac China Holdings Limited's shares fell sharply by up to 30% following a winding-up petition filed by China Cinda Asset Management, with a hearing set for March 19, 2025. The petition highlights the ongoing financial struggles of Sunac, which has seen its shares plummet 43% this year amid a broader debt crisis in China's property sector. The company, once a leading developer, is facing mounting operational stresses similar to those of other developers like China Evergrande and Country Garden. Despite efforts by Beijing to stabilize the property market, confidence remains low among investors and homebuyers. This situation follows a previous liquidation petition against Sunac in 2022, which was ultimately withdrawn.