On October 30, Oceanwide Holdings Co., Ltd. disclosed the Q3 report of 2018, which showed that Oceanwide Holdings achieved revenue of RMB8.075 billion in the first three quarters, down 9.39% year on year, and net profit attributable to shareholders of the listed company reached RMB1.817 billion, up 48.70% year on year.

As of September 30, the total assets of Oceanwide Holdings increased by 10.72% to RMB207.909 billion, the total liabilities totalled RMB178.533 billion, and the monetary funds amounted to RMB21.883 billion.

It is learnt by Guandian Real Estate that Standard & Poor's announced earlier this month that it upgraded Oceanwide Holdings' long-term corporate credit rating from CCC to CCC+ with a negative outlook. S&P said that Oceanwide Holdings' refinancing prospect is set to improve over the next 12 months, following the completion of a total of USD800 million in offshore senior bond payments in July and August.

However, given Oceanwide Holdings' high short-term debt levels and large size of total debts, S&P expected that Oceanwide Holdings will continue to face significant refinancing pressure and is unlikely to see substantial improvement in its financial leverage.