Sunac China (01918) Becomes a Hot Hong Kong Stock: Driven by Debt Restructuring Breakthroughs and Policy Expectations

This analysis is based on Hong Kong Stock Market Popularity Ranking data from East Money App provided by Tushare dc_hot [1], combined with internal analysis [0] and external reports [2][3][4][5][6][7].

Sunac China (01918) is a well-known Chinese real estate developer [3]. As of November 30, 2025, its share price was HK$1.37, with a daily increase of 3.79%, a trading volume of 135.48 million shares, a turnover of HK$202.18 million, and a market capitalization of HK$15.609 billion [0]. The core drivers of its popularity are:

1. Debt Restructuring Breakthrough
   : Completed the restructuring of US$9.55 billion in overseas debt, approved by the Hong Kong High Court, becoming the first large real estate enterprise to complete all domestic and overseas debt restructuring [4][5].
2. Improved Policy Environment
   : Local governments have relaxed housing purchase restrictions, and the market expects increased policy support [2].
3. Market Sentiment
   : The turnaround concept is popular, and investors’ expectations for industry recovery are rising [6].

1. Industry Benchmark Significance
   : The successful debt restructuring provides a reference for similar real estate enterprises, marking substantial progress in resolving industry risks [4][5].
2. High Policy Sensitivity
   : The stock price is closely related to real estate policies, and subsequent policy trends will continue to affect valuation [2].
3. Obvious Sentiment Driven
   : The market’s pursuit of turnaround stocks reflects a marginal recovery in confidence, but vigilance against the sustainability of the rebound is needed [6].

• Uncertainty about industry recovery remains, and the company’s operational pressure has not been fully eliminated [6].
• The market is cautious about the sustainability of the rebound in real estate stocks [6].

• Policy dividends are expected to improve the financing and sales environment [2].
• After debt restructuring, it can focus on the recovery of core businesses [4].

The popularity of Sunac China (01918) stems from the dual drivers of debt restructuring breakthroughs and policy expectations. Although there is still uncertainty about industry recovery, as the first large real estate enterprise to complete full restructuring, its progress is worthy of attention. Investors need to track policy trends and operational data to evaluate long-term value.