Yida China Discloses New Loan Default as Cross-Default Pressure Mounts
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Yida China Holdings Ltd. has announced a loan default by its subsidiary, Yida Development, failing to pay a RMB102.6 million loan installment. The company faces cross-defaults totaling approximately RMB4.223 billion due to various overdue debts. Despite ongoing negotiations for extensions, no resolution has been reached regarding a separate Bohai Trust loan. The stock currently holds a Hold rating with a price target of HK$0.07. Yida China is a property developer focused on real estate in mainland China, relying heavily on bank financing.
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