Jinke Property Group reorganization advances amid delisting risks, related party falls short

Jinke Property Group announced the formal acceptance of its reorganization application by the Chongqing No. 5 Intermediate People's Court on April 22, 2024. The court subsequently approved Jinke Property Group’s and Chongqing Jinke’s reorganization plans on May 10 and 11, 2025, terminating their reorganization procedures and moving them into the execution phase. The company has also secured strategic investments from Shanghai Pinqi Management Consulting and Beijing Tianjiao Green Garden Real Estate Development, confirmed as lead industrial investors on November 22, 2024. The total share capital has increased to 10,634,081,632 shares.

Despite these advancements, Jinke Property Group faces several risks. Its stock is under delisting risk warnings due to the court-accepted reorganization and negative net assets reported in its 2024 annual report. Additionally, for three consecutive years (2022-2024), the company has reported negative net profits after deducting non-recurring gains and losses, coupled with uncertainties about its continued operational capacity.

In a separate development, Oriental Yinyuan (Beijing) Material Co., Ltd., a related party to Jinke Property Group's former actual controller, failed to meet its shareholding increase target. Despite an extended deadline, Oriental Yinyuan acquired only 16,563,300 shares, representing 0.16% of the company's total share capital, for a total transaction value of CNY 22,713,543.40. This falls short of the initial commitment to acquire no less than 50 million shares.