China Evergrande Group (formerly: Evergrande Real Estate Group) (3333.HK)

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Evergrande: the end of China's property boom | FT Film
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Lender Seizes Evergrande's Hong Kong Headquarters
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Being forcesold when markets are down is a painful experience. For China Evergrande, its reported book value of a land was marked down by 55%. It gives an estimated market price of land in Hong Kong now (50% discount from reported valuations). If we are to use this as metrics, it will show the true worth of many HK developers and REITs
An apt reminder that a train crash can be much longer than VB expected, worst still enticing more to board the gravy train. Gradually then suddenly.

(Wall Street Journal) -- Shares of embattled Chinese property giant China Evergrande Group crashed 79% on Monday, when they resumed trading after being suspended since March 2022.
The stock was halted months after Evergrande, which has more than $19 billion in offshore borrowings, defaulted on dollar bonds, and as the company struggled to produce audited results.
Evergrande is now working with offshore creditors to wrap up one of the world's largest and most complex debt restructurings, and recently sought U.S. court approval to push ahead.
Late Sunday, Evergrande said its net loss in January to June was 33.01 billion yuan, or about $4.53 billion. Total liabilities as of June stood at the equivalent of more than $326 billion.
Evergrande's default in late 2021, following a government crackdown on leverage in the sector, marked a milestone as China's property boom turned to bust. The sector continues to suffer, with home sales and investment plunging after a small recovery at the start of the year.
The property developer has postponed some investor meetings until September to give investors more time to understand and agree to the terms of the proposed restructuring.

(08-09-2021, 05:16 PM)specuvestor Wrote: Personally I think the backer for Evergrande goes all the way up cause it was not purged even with Foshan, HNA, Wanda etc and it had openly say for years that they even take loans from WMP and had been extremely leveraged

Coincidentally it's woes coincides with the stepping back of Wang Qishan as Vice President without portfolio; which was what an exiled billionaire been claiming

(29-04-2015, 12:04 AM)specuvestor Wrote: Frankly evergrande is a high risk bet. It could easily be another kaisa

Gaudente swam with sharks and emerged victorious but i wouldn't encourage doing this on a consistent basis
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

Think Asset-Business-Structure (ABS)

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