On March 6, 2026, Sunac Real Estate Group Limited disclosed that the company has defaulted on four debts, involving a total amount of 614 million yuan (RMB). The company stated that the default would have a certain adverse impact on its production and operation as well as debt repayment capability.
Sunac China’s wholly-owned subsidiary, Sunac Real Estate Group Limited (Sunac Real Estate), released a “Notice on Major Matters” on March 6. The notice indicated that Sunac Real Estate and its subsidiaries have incurred four new loans due but unpaid, involving bank loans and other interest-bearing debts, totaling approximately 614 million yuan of debt and around 246 million yuan of default amount.
The announcement revealed that the default was due to failure to repay principal or partial principal on time, with defaults occurring between February and March 2026. The subsidiaries involved include Sichuan Hailongtan Changdao International Tourism Resort Center Co., Ltd., Hefei Mingsheng Cultural Tourism Management Co., Ltd., Dalian Sunac Haoteng Real Estate Development Co., Ltd., and Nanning Rongwang Real Estate Development Co., Ltd. In addition, Sunac Real Estate Group and key subsidiaries have committed 10 instances of dishonest conduct involving enforcement cases in courts across Shanxi, Henan, Yunnan, and Tianjin.
In the announcement, Sunac Real Estate stated, “The ‘failure to repay due debts’ and ‘existence of dishonest conduct’ mentioned above will have a certain adverse impact on the company’s production and operation as well as debt repayment capability.”
In a previous announcement, Sunac Real Estate revealed that in the first half of 2025, the company incurred a net loss attributable to its parent of 9.081 billion yuan. Compared to the same period last year, the company’s sales in October 2025 plummeted by 86%, with sales from January to October declining by 25.1%.
Sunac Real Estate Group Limited was established in January 2003 and registered in Xiqing District, Tianjin. The company’s business scope includes real estate development and commercial property sales, property management, indoor and outdoor decoration, as well as leasing of self-owned properties.