The Zhitong Finance App learned that Sunac China (01918) fell more than 6%, hitting a new low of HK$1.09 since the end of 2016. As of press release, there was a decrease of 6.03% to HK$1.09, with a turnover of HK$32.481 million.

According to the news, Citi released a research report saying that the company's sales and investment were still weak in the first four months of this year, and it will take some time to recover. As a result, it maintained its “neutral/high risk” rating. The target price was lowered from HK$5.1 to HK$1.3, and it is expected to record a net loss of 2.7 billion yuan throughout this year, turning a loss into a profit by next year. The bank said that progress has been made in Sunac China's debt restructuring, which is the first step for the company to resume sales and improve its profit prospects. It is expected that if the offshore debt restructuring is successfully implemented, it will bring stability and financial flexibility to future operations.