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Fantasia’s (1777) key subsidiary receives winding-up petition

By Andreas Ismar

07:37, 26 November 2021

Apartment buildings overseeing a river in Guangzhou, China
Apartment buildings overseeing a river in Guangzhou, China - Photo: Shutterstock

Chinese property developer Fantasia Holdings, which last month failed to repay $206m bonds, said that one of its main subsidiaries has received a winding-up petition.    

The petition was related to loans guaranteed by subsidiary Fantasia Investment Holdings, the company said in an exchange filing.

“On 24 November 2021, a winding-up petition was filed against Fantasia Investment Holdings Company Limited, a major subsidiary of the Company, in connection with loan facilities of alleged outstanding principal amount of US$149 million in which Fantasia Investment was the guarantor,” it said.

Property developers facing liquidity crunch

“The company will seek legal advice to protect its legal rights and interests and take all necessary measures including maintaining a constructive dialogue with the petitioner to address the matter,” Fantasia Holdings said.


43,970.60 Price
-1.290% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00


16,080.90 Price
+0.500% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 7.0


2,004.85 Price
-1.180% 1D Chg, %
Long position overnight fee -0.0198%
Short position overnight fee 0.0116%
Overnight fee time 22:00 (UTC)
Spread 0.50

Oil - Crude

71.41 Price
+2.320% 1D Chg, %
Long position overnight fee -0.0204%
Short position overnight fee -0.0015%
Overnight fee time 22:00 (UTC)
Spread 0.030

Fantasia Holdings is among several Chinese property developers facing liquidity problems as Beijing forces realtors to slash their debts to healthy levels while sales have been slowing. After missing out on interest payments of its bonds in October, Fantasia has been requesting for longer repayment to its creditors.

On Wednesday, Fantasia Holdings announced it will pay 20% interest of a coupon payment due on 25 November and the remainder 80% will be paid 12 months after.

The stock price of Fantasia Holdings fell 4.4% to 32 Hong Kong cents.

Read more: Chinese property developer Fantasia misses two debt payments

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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