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China Evergrande Group (3333.HK)

0.163

-0.043

(-20.87%)

At close: January 29 at 10:18 AM GMT+8

PwC Pushes Back at Evergrande Letter

PricewaterhouseCoopers has responded to a public letter that blamed some of its executives for the global accounting firm’s exposure to China Evergrande, the fallen property giant.

The Wall Street Journal 10 days ago

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China Evergrande Drops Debt Restructuring Applications in U.S.

The developer had sought a New York court’s approval last August to restructure more than $19 billion in offshore debt via Chapter 15 bankruptcy filings.

The Wall Street Journal last month

EGRNQ
China Evergrande Fraudulently Boosted Sales, Regulator Says

The China Securities Regulatory Commission plans to impose a lifetime ban on the property company’s founder, Hui Ka Yan.

The Wall Street Journal last month

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China Evergrande: the people behind the indebted developer's overhaul

Restructuring experts from Alvarez & Marsal will rely on China connections and a track record of complicated corporate overhauls as they try to engineer an outcome for property giant Evergrande that will involve creditors, authorities and home buyers. Tiffany Wong and Eddie Middleton, both managing directors at A&M, were appointed by a Hong Kong court last month after a liquidation petition was approved following about 18 months of talks with China Evergrande Group's offshore creditors. Evergrande, founded in 1996 by Hui Ka Yan, grew to become the poster child of China's property boom in the first two decades of the 2000s.

Reuters 2 months ago

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Australia's Golden Goose unruffled as China crises come and go

SYDNEY (Reuters) -For Australia, China has become the Golden Goose that's always about to stop laying. For more than three decades now, barely a year has passed where a China crisis was not just around the corner, certain to shut down the rivers of gold flowing into Australia's trade coffers. The latest scares have come in the form of a collapse in China's stock markets and a failure of developer China Evergrande and what it might mean for the property sector, a backbone of China's economy.

Reuters 2 months ago

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China’s Real Estate Crash Threatens Commodity Supplies and Suppliers

The liquidation of Evergrande, a debt-ridden Chinese property giant, has raised concerns about China's economic stability, potential lending crunch, and its impact on global metal markets and suppliers.

Oilprice.com 2 months ago

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Hong Kong luxury property owners turn to high-interest private loans for relief from liquidity pain

On a road that winds through Hong Kong's posh Repulse Bay neighbourhood, a multistorey luxury residential building with Roman columns and sweeping views of the South China Sea has been put forward as collateral for a loan, before construction is even finished. The loan was taken out by Luk Sin-fong, who owns 39 South Bay Road and whose husband is Chen Zhoulin, chairman of distressed Chinese developer Agile Group Holdings, according to a source familiar with the matter. Although the amount is unk

South China Morning Post 2 months ago

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Evergrande EV unit suspends talks with Dubai's NWTN on redrafting deal

In August, the electric vehicle unit of China Evergrande had agreed to issue 6.18 billion new shares to NWTN to support its parent's restructuring plan. If the transaction had been completed, NWTN would have held a 27.50% stake in NEV, while China Evergrande's interest would have been diluted to 46.86%. NEV said if it decides to proceed with the subscription deal with NWTN, the parties will renegotiate the amendments to certain key terms.

Reuters 2 months ago

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UPDATE 1-Evergrande EV unit suspends talks with Dubai's NWTN on redrafting deal

China Evergrande New Energy Vehicle (NEV) said on Friday it has suspended negotiations on amendments to the terms of a HK$3.89-billion ($497.42 million) share subscription agreement with Dubai-based mobility firm NWTN . In August, the electric vehicle unit of China Evergrande had agreed to issue 6.18 billion new shares to NWTN to support its parent's restructuring plan. If the transaction had been completed, NWTN would have held a 27.50% stake in NEV, while China Evergrande's interest would have been diluted to 46.86%.

Reuters 2 months ago

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Uneven path to finish Evergrande's abandoned housing in Chinese city

In the heart of the northern Chinese city of Shijiazhuang, a fence displaying the slogan "Happy Every Day" hides an unfinished apartment complex, a daily reminder of the unresolved costs of the collapse of China’s once-largest developer. Construction on the Central Plaza project that promised buyers about 1,800 new homes stalled in 2021 after China Evergrande Group defaulted. “We seem to have no way of resolving this issue," said a 38-year-old Shijiazhuang resident, who bought two still-unfinished units for more than $350,000 in 2017 and who asked not to be named.

Reuters 2 months ago

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China at risk from ‘rapid’ housing downturn as stock market hits new five-year low

China’s economy is highly exposed to shocks after the “rapid” downturn in its housing market, the International Monetary Fund (IMF) has warned.

The Telegraph 2 months ago

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Evergrande Is a Harbinger of Deepening Crises in China

In the heart of China’s bustling economy, a giant has stumbled. China Evergrande Group, once a behemoth in the real estate sector, finds itself at a crossroads with a liquidation order from a Hong Kong court. This isn’t just a pivotal moment for Evergrande, but a siren call for the Chinese economy at large. The ripples caused by Evergrande’s predicament are far-reaching. For decades, real estate has been the cornerstone of China’s explosive economic growth. Yet, a perfect storm of burgeoning deb

InvestorPlace 2 months ago

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Is this the end of Evergrande? Here’s what may happen next

The liquidation of Evergrande Group has raised more questions than answers about how the collapse of the posterchild of China’s real estate crisis will affect investors, thousands of workers, and homebuyers waiting for their apartments

CNN Business 2 months ago

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WRAPUP 2-China unveils new property support measures amid concerns about Evergrande fallout

A state-backed property project in China has received the first development loan under a so-called whitelist mechanism and two more major cities have eased home-buying curbs, state media reported, as concerns mount about the liquidation of Evergrande. The latest measures add to a string of policies deployed by the world's second-largest economy over the past year to help revive the property sector, which accounts for a quarter of China's GDP and has been hit by an unprecedented debt crisis after a regulatory crackdown on the sector's high leverage. Despite those measures, the property market ended last year with the worst declines in new home prices in nearly nine years, casting a shadow over hopes of broader economic recovery and renewing investor demands for stronger policy initiatives.

Reuters 2 months ago

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Evergrande's bond holders could wait years for little payout - ratings agency

China Evergrande's offshore dollar bondholders stand to receive a potentially tiny payout in a complicated process that could take years to play out after the property giant was placed in liquidation, according to S&P Global Ratings. A new report published on Wednesday by the ratings agency said in-court cash recovery rates were around 2.8%, on average, in offshore default cases of Chinese developers. The agency said the recovery rate for onshore defaults for the same issuer type is 8.3%.

Reuters 2 months ago

EGRNQ
China unveils new property support measures amid concerns about Evergrande fallout

HONG KONG/BEIJING (Reuters) -A state-backed property project in China has received the first development loan under a so-called whitelist mechanism and two more major cities have eased home-buying curbs, state media reported, as concerns mount about the liquidation of Evergrande. The latest measures add to a string of policies deployed by the world's second-largest economy over the past year to help revive the property sector, which accounts for a quarter of China's GDP and has been hit by an unprecedented debt crisis after a regulatory crackdown on the sector's high leverage. Despite those measures, the property market ended last year with the worst declines in new home prices in nearly nine years, casting a shadow over hopes of broader economic recovery and renewing investor demands for stronger policy initiatives.

Reuters 2 months ago

EGRNQ
Chinese major cities ease home purchase limits to boost sales

Two of China's major cities, Suzhou and Shanghai, followed Guangzhou in easing home-buying restrictions, in an effort to boost property sales as persistent weakness in confidence delays a recovery in the crisis-hit property sector. The eastern city of Suzhou completely relaxed home buying restrictions for new and resale home markets, according to state media The Paper on Tuesday.

Reuters 2 months ago

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MORNING BID ASIA-China PMIs, U.S. Fed statement will test growth outlooks

Wednesday will bring prompt tests of the just-released International Monetary Fund upgrades of U.S. and Chinese growth outlooks that could should set the tone for markets, starting with Asia on Wednesday. The IMF on Tuesday adjusted its forecast for 2024 global growth upward amid a stabilized inflation outlook, and said a "soft landing" was in sight. While IMF's World Economic Outlook may not be the biggest market mover, it threw down a marker for the two most important economies, raising the GDP growth rate outlook for China to 4.6% from 4.1% and the U.S. to 2.1% from 1.5%.

Reuters 2 months ago

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Evergrande Is Finished. China’s Property Woes Aren’t.

Chinese officials must act forcefully to stabilize the country’s real-estate sector and protect its wider economy, say analysts.

The Wall Street Journal 2 months ago

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REFILE-China Evergrande crisis was long expected, Norway wealth fund says

The liquidation of property giant China Evergrande Group was a crisis markets had expected and which Chinese banks have the heft to cope with, a top official at Norway's $1.6 trillion wealth fund told Reuters on Tuesday. But Trond Grande, deputy CEO of Norges Bank Investment Management (NBIM), one of the world's largest investors, said markets had long expected the problem at China Evergrande, which he described as a "zombie company". While Grande said "it was too early to say" what would be the full impact on the Chinese economy, he also said that, "in a country like China, you have a lot of strong financial institutions because they have state backing".

Reuters 2 months ago

EGRNQ

Performance Overview

Return	3333.HK	HANG SENG INDEX
YTD	-30.64%	+3.54%
1-Year	-90.12%	-10.03%
3-Year	-98.79%	-39.30%

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China Evergrande Group (3333.HK)

PwC Pushes Back at Evergrande Letter

China Evergrande Drops Debt Restructuring Applications in U.S.

China Evergrande Fraudulently Boosted Sales, Regulator Says

China Evergrande: the people behind the indebted developer's overhaul

Australia's Golden Goose unruffled as China crises come and go

China’s Real Estate Crash Threatens Commodity Supplies and Suppliers

Hong Kong luxury property owners turn to high-interest private loans for relief from liquidity pain

Evergrande EV unit suspends talks with Dubai's NWTN on redrafting deal

UPDATE 1-Evergrande EV unit suspends talks with Dubai's NWTN on redrafting deal

Uneven path to finish Evergrande's abandoned housing in Chinese city

China at risk from ‘rapid’ housing downturn as stock market hits new five-year low

Evergrande Is a Harbinger of Deepening Crises in China

Is this the end of Evergrande? Here’s what may happen next

WRAPUP 2-China unveils new property support measures amid concerns about Evergrande fallout

Evergrande's bond holders could wait years for little payout - ratings agency

China unveils new property support measures amid concerns about Evergrande fallout

Chinese major cities ease home purchase limits to boost sales

MORNING BID ASIA-China PMIs, U.S. Fed statement will test growth outlooks

Evergrande Is Finished. China’s Property Woes Aren’t.

REFILE-China Evergrande crisis was long expected, Norway wealth fund says

Performance Overview