Running into liquidity problems and trying to raise capital - just another Chinese giant with feet of clay:
Shares of Country Garden Holdings Co. fell after the company said it will place new shares at a discount to raise funds, as sluggish property sales in China crimp developers’ finances.
The Chinese home builder’s stock fell 14% to HK$3.20 in Wednesday morning trade in Hong Kong and was headed toward the biggest one-day percentage drop since March. It has lost 54% so far this year.
https://www.morningstar.com/news/dow-jones/2022072729/countr…
The big worry is that if the Chinese economy continues to unravel then a war over Taiwan would prove a welcome distraction for the CCP.