Danke Apartment, a Chinese residential rental company, has a debt-dependent business model that is showing signs of strain, CNBC's Arjun Kharpal, reports. The business model entails getting more money back from renters than Danke has paid to lease the apartment. In 2019, 65.9 percent of Danke’s tenants had rent-financing agreements in place, according to a company filing with the U.S. Securities and Exchange Commission. Media reports in China have begun to raise questions about Danke’s financial health. For its part, WeBank said this month that it would waive interest payments until 2023 for all Danke tenants who took out a loan.

Source: The Standard December 17, 2020 03:33 UTC