The demands were due to rating downgrades and the company warned shareholders it might be unable to pay up due to a liquidity crunch

Hui Ka Yan sold 1.2bn shares in his company on Thursday for $344m, cutting his stake to 67.9% from 77%. Once China's richest man, he could be broke by mid-2022 if the crisis doesn't ease soon

China Aoyuan Group sells properties at a loss of HK$177 million to repay debt and its stock price subsequently plummeted