The shares of Chinese developer giant Country Garden Holdings are experiencing a free fall. Since the beginning of this year, their price has plummeted by 63.6 percent. On Friday, they closed trading below one Hong Kong dollar for the first time, dropping more than six percent to a price of 0.98 (2.75 Czech koruna).
Jang Chuej-jen, once the richest woman in Asia and the largest shareholder of the Chinese development company, is counting massive losses. The value of her total assets, including shares and other assets, has decreased by $28.8 billion (approximately 631 billion Czech koruna) since June 2021, when she was at the peak. According to the Bloomberg Billionaires Index, this is the largest decrease among all billionaires worldwide in the past two years.
The decline in Country Garden Holdings’ shares is a cause for concern for Jang Chuej-jen, prompting her to hire advisors to help resolve the company’s troubles. The developer giant will need to strategize and find solutions to reverse the downward trend and regain investor confidence.
The reasons behind the sharp decline in Country Garden Holdings’ shares are not explicitly mentioned in the article. However, it is clear that the company’s performance has been negatively impacted, leading to significant financial losses for its largest shareholder. Investors and industry experts will be closely monitoring the situation to see how Country Garden Holdings plans to address its challenges and whether it can recover from this downturn.
How does the sharp decline in Country Garden Holdings’ shares impact Jang Chuej-jen’s position as the largest shareholder and her overall wealth
The shares of Chinese developer giant Country Garden Holdings are taking a nosedive, with a staggering 63.6 percent drop since the beginning of the year. In a new low, the stock closed below one Hong Kong dollar on Friday, falling over six percent to a price of 0.98 (2.75 Czech koruna).
This downward spiral has hit Jang Chuej-jen hard, once known as the wealthiest woman in Asia and the largest shareholder of the company. Her total assets, including shares and other investments, have plummeted by $28.8 billion (approx. 631 billion Czech koruna) since June 2021, marking the biggest decline among all billionaires worldwide for the past two years, according to the Bloomberg Billionaires Index.
With this alarming situation, Jang Chuej-jen has sought the assistance of advisors to navigate the troubled waters Country Garden Holdings finds itself in. The developer giant must now devise effective strategies to reverse the downward trend and regain the trust of investors.
While the exact reasons behind Country Garden Holdings’ sharp decline remain elusive, it is evident that the company’s performance has taken a severe hit, resulting in significant financial losses for its largest shareholder. Observers from the investment community and industry experts alike will be closely monitoring the situation, eagerly awaiting the company’s plans to tackle its challenges and restore its former glory.
This is concerning news for Country Garden Holdings and could have ripple effects in the Chinese real estate market.
Country Garden Holdings needs to reassess its strategies and adapt to the changing market conditions to avoid further losses.