Understanding the Market | SHENZHEN INVEST surged over 22% as reports indicate that Oak Tree Capital and two other institutions joined the overseas creditor group of Road King
Shenzhen Invest surged over 22%, as of the time of writing, up 20.93%, reported at HKD 1.04, with a transaction volume of HKD 66.9849 million. On the news front, on October 22, The Paper learned from informed sources that three institutions, including Oak Tree Capital, joined a creditor group (AHG) holding Kwan Hung's offshore debt. It is reported that the group's holdings exceed USD 600 million, accounting for more than 25% of Kwan Hung's offshore bonds and perpetual bonds. It is noted that on August 14 of this year, Hong Kong developer Kwan Hung Infrastructure issued an insider information announcement, declaring a suspension of all payments of principal and interest due on all offshore bank debts, notes, and perpetual securities. Due to Kwan Hung's debt default, Shenzhen Invest conducted an impairment test on its investment in Kwan Hung and confirmed a total of HKD 1.806 billion in attributable performance and impairment losses as of June 30, 2025. In addition, Shenzhen issued a notice on the "Action Plan for Promoting High-Quality Development of Mergers and Acquisitions and Restructuring in Shenzhen (2025-2027)." Among the proposals, it aims to exceed a total market value of RMB 20 trillion for domestic and foreign listed companies by the end of 2027 and to cultivate 20 enterprises with a market value of over RMB 100 billion
According to Zhitong Finance APP, SHENZHEN INVEST (00604) surged over 22%, and as of the time of writing, it rose 20.93% to HKD 1.04, with a transaction volume of HKD 66.9849 million.
On the news front, on October 22, The Paper learned from informed sources that three institutions, including Oak Tree Capital, have joined a creditor group (AHG) holding Kwan Hung's offshore debt. It is reported that the group's holdings exceed USD 600 million, accounting for more than 25% of Kwan Hung's offshore bonds and perpetual bonds.
It is reported that on August 14 of this year, Hong Kong developer Kwan Hung Infrastructure issued an insider information announcement, announcing the suspension of all offshore bank debt, notes, and all due principal and interest payments on perpetual securities. Due to Kwan Hung's debt default, SHENZHEN INVEST conducted an impairment test on its investment in Kwan Hung and confirmed a total of HKD 1.806 billion in performance and impairment losses as of June 30, 2025.
In addition, Shenzhen issued a notice on the "Action Plan for Promoting High-Quality Development of Mergers and Acquisitions and Restructuring in Shenzhen (2025-2027)." Among them, it is proposed to strive for the total market value of domestic and foreign listed companies to exceed 20 trillion yuan by the end of 2027, cultivating 20 enterprises with a market value of over 100 billion
