Poly Developments and Holdings Group Co Ltd: Update to credit analysis
Our credit view of Poly Developments reflects its nationwide coverage and leading market position in China's property sector, against its modest EBIT/interest because of margin contraction.Poly Real Estate Group is engaged in the real estate development; leasing of Co.'s developed commodity housing; the design of housing engineering; old building relocation; road and earthwork construction; interior renovation; the installation of air-conditioning project and management; property and hotel management; and trading of wholesale and retail. Through its subsidiaries, Co. is also engaged in the community intellectualization of integrated system engineering; club management; construction supervision; the provision of commercial consultation services; field management; and the sale and agent of real estate.
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