(Yicai Global) June 11 -- The stock price of Yida China Holdings Limited [HKG:3639] dropped more than 10 percent this morning after the firm admitted it was facing liquidity difficulties in a statement. 

Certain banks and financial institutions have indicated they will not enter into new loan agreements with the company until liquidity issues surrounding China Minsheng, the controlling shareholders of the company, are resolved.

The company is assessing the impact on its financial conditions and is also exploring alternative sources of financing.

Editor: William Clegg