China Great Wall Postpones Earnings, Echoing Huarong Delay
- Second delay fuels concerns about crisis like rival Huarong
- Firm had missed April 30 deadline, saying operations normal
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China Great Wall Asset Management Co. missed a second deadline to publish its 2021 annual report, renewing concerns about the health of the nation’s state-controlled bad debt managers, which roiled the Asian credit market a year ago.
The company failed to finalize valuation of some unspecified transactions before Thursday’s deadline, Great Wall said in a statement to the National Interbank Funding Center. The Beijing-based firm previously missed an April 30 deadline set by China’s regulators for onshore bond issuers, citing the need to confirm figures for some projects. The firm reiterated on Thursday that operations are normal.