Financial Performance - In 2021, the group achieved a contract sales amount of RMB 372.9 billion, with a total sales area of 52.02 million square meters, and total sales receipts of RMB 387.6 billion[14]. - The group's revenue for the year was RMB 250.01 billion, with real estate development revenue contributing RMB 226.15 billion from 770 projects completed[17]. - The gross loss for the year was RMB 18.45 billion, resulting in a gross margin of -7.4% due to significant promotional inventory turnover[17]. - Other losses for the year totaled RMB 129.83 billion, primarily from land recovery losses and joint venture investment losses[18]. - The group reported a net loss of approximately RMB 686.22 billion for the year ended December 31, 2021[114]. - Total revenue for 2021 was RMB 250,013 million, a decrease of 50.7% compared to RMB 507,248 million in 2020[121]. - The total comprehensive loss for the year amounted to RMB 686,634 million, compared to a comprehensive income of RMB 31,035 million in 2020[122]. Debt and Liabilities - As of December 31, 2021, the total liabilities of China Evergrande Group amounted to RMB 2,580.15 billion, with a net debt (excluding contract liabilities of RMB 974.35 billion) of RMB 1,605.80 billion, a decrease of RMB 159.18 billion from the end of 2020[12]. - The company plans to continue its debt reduction strategy, having reduced interest-bearing liabilities by approximately RMB 300 billion from March 2020 to June 2021[12]. - The group incurred financial costs of RMB 41.62 billion during the year[17]. - The company has been involved in multiple lawsuits and arbitration cases, indicating significant uncertainties regarding its ability to continue as a going concern[114]. - The company has taken various measures to improve its liquidity and financial condition, although the effectiveness of these measures is uncertain[114]. - The company reported a net loss attributable to shareholders of RMB 476,035 million for 2021, compared to a profit of RMB 8,076 million in 2020[122]. Assets and Cash Flow - As of December 31, 2021, the total assets of the company amounted to RMB 2,107,096 million, a decrease from RMB 2,301,159 million as of December 31, 2020, representing a decline of approximately 8.4%[119]. - The company's cash and cash equivalents plummeted from RMB 158,752 million in 2020 to RMB 5,435 million in 2021, indicating a drastic decline of approximately 96.6%[119]. - Total cash, including cash and cash equivalents and restricted cash, was approximately RMB 28.78 billion as of December 31, 2021[114]. - The net cash used in operating activities for the year ended December 31, 2021, was RMB 36,373 million, compared to RMB 213,231 million in 2020[125]. - The company raised RMB 89,378 million from borrowings during the year ended December 31, 2021[126]. Corporate Governance - The company emphasizes high standards of corporate governance, adhering to principles of internal control, risk management, and accountability to shareholders[41]. - The board has reviewed the effectiveness of the company's risk management and internal control systems, deeming them effective and sufficient as of December 31, 2021[41]. - The independent non-executive directors confirmed their independence in accordance with the listing rules[43]. - The company has established a mechanism to ensure the board receives independent views and opinions, with at least three independent non-executive directors[43]. - The company has a commitment to innovation, with ongoing research in engineering and management, led by experienced professionals from academic backgrounds[38]. Employee and Social Responsibility - As of December 31, 2021, the group had a total of 121,368 employees, with nearly 90% holding a bachelor's degree or higher[33]. - The total employee cost for the group was approximately RMB 14.07 billion for the year ending December 31, 2021, compared to RMB 29.02 billion for the previous year[33]. - The company is committed to sustainable development through strong relationships with employees, customers, and business partners[83]. - The group emphasizes environmental protection and has implemented best industry practices to promote eco-friendly initiatives[102]. - The company has established a supplier evaluation system to assess pricing, quality, and service of suppliers, ensuring a continuous supply of quality materials[104]. Risk Management - The company has established a clear frequency for risk management assessments and reporting, at least annually, as outlined in the "China Evergrande Group Risk Management Manual"[51]. - The risk management system encompasses risks related to strategy, finance, operations, compliance, and significant environmental, social, and governance (ESG) matters[49]. - The Audit Committee is responsible for reviewing the risk management framework and continuously monitoring its effectiveness[50]. - The group updated its risk assessment standards based on changes in the internal and external environment, focusing on the nature of business and operational characteristics, strategic objectives, and risk preferences of management[51]. - The internal audit function supervises and evaluates the risk management work of the Group and its subsidiaries[50]. Shareholder Communication and Dividends - The company has established a shareholder communication policy to ensure equal and timely access to information for shareholders[72]. - The company proposed no final dividend for the year ended December 31, 2021[76]. - The company has adopted a dividend policy to declare dividends annually when circumstances permit, considering distributable profits, financial condition, and future development needs[67]. - The board believes that the shareholder communication policy remains effective for the year[72]. - The company had no distributable reserves available for shareholders as of December 31, 2021[78]. Restructuring and Future Plans - A restructuring support agreement was signed with the Ad Hoc Group on April 3, 2023, aimed at providing a sustainable capital structure and protecting stakeholder interests[133]. - The proposed restructuring is expected to be implemented by October 1, 2023, with a final deadline of December 15, 2023[133]. - The company plans to issue new notes totaling $6.5 billion under the SJ agreement arrangement for creditors[135]. - The board believes that through the proposed debt restructuring plans, the company will have sufficient funds to meet its financial obligations for the next 12 months[138]. - The ability to continue as a going concern depends on successfully completing the proposed offshore debt restructuring and negotiating extensions with remaining lenders[138].

Financial Performance - The group's revenue for the six months ended June 30, 2023, was RMB 128.18 billion, with a gross profit of RMB 9.80 billion, resulting in an operating loss of RMB 11.72 billion[6]. - The net loss for the six months ended June 30, 2023, was RMB 39.25 billion, compared to a net loss of RMB 86.17 billion for the same period in 2022[6]. - The total comprehensive income for the period, after tax, was RMB 323 million, a decrease from RMB 2,157 million in the previous year[8]. - The company's total expenses for the period were RMB 38,925 million, down from RMB 84,012 million in the prior year, reflecting a reduction in operational costs[8]. - The basic loss per share attributable to shareholders was RMB 2.972, compared to RMB 5.025 in the previous year, showing a decrease in losses per share[8]. - For the six months ended June 30, 2023, the company's revenue reached RMB 128,181 million, a significant increase from RMB 89,281 million for the same period in 2022, representing a growth of approximately 43.6%[23]. - The group reported a significant increase in trade payables and other payables, totaling RMB 1,056.57 billion as of June 30, 2023, compared to RMB 1,002.26 billion at the end of 2022[4]. Debt and Liabilities - As of June 30, 2023, the total debt of China Evergrande Group amounted to RMB 238.82 billion, with net debt after excluding certain liabilities at RMB 178.42 billion[2]. - Non-current liabilities included borrowings of RMB 42.95 billion and deferred tax liabilities of RMB 47.36 billion as of June 30, 2023[4]. - The total liabilities amounted to RMB 2,388.2 billion, an increase of RMB 67.83 billion compared to RMB 1,716.39 billion after excluding contract liabilities from the previous year[30]. - The company's borrowings as of June 30, 2023, were RMB 624.77 billion, an increase of RMB 12.38 billion from RMB 612.39 billion at the end of 2022, with an average interest rate of 7.97%[31]. - The group reported significant contingent liabilities of approximately RMB 73.85 billion as of June 30, 2023, up from RMB 46.78 billion at the end of 2022[40]. Cash and Liquidity - The group's cash and cash equivalents were RMB 4.05 billion as of June 30, 2023, down from RMB 4.33 billion at the end of 2022[3]. - As of June 30, 2023, the company had total cash and cash equivalents of approximately RMB 13,381 million, indicating liquidity challenges with net current liabilities of RMB 713,102 million[11]. - As of June 30, 2023, the group had cash and cash equivalents totaling RMB 13.38 billion, with an additional RMB 34.87 billion in a unified regulatory account[39]. Restructuring Efforts - The company is actively negotiating debt restructuring plans to alleviate liquidity pressures and has engaged with creditors to resolve outstanding litigation[12]. - A restructuring support agreement was signed with the Ad Hoc Group (AHG) on April 3, 2023, aimed at providing a sustainable capital structure and financial flexibility[12]. - The proposed restructuring is expected to be implemented by October 1, 2023, with a final deadline of December 15, 2023, subject to potential extensions[12]. - The company is exploring new financing avenues, including asset management and partnerships, to secure additional capital[12]. - The company plans to implement a restructuring through the CEG agreement, which categorizes debts into two groups: Group A and Group C[14]. - Group A creditors will receive new notes with a term of 10-12 years, while Group C creditors can choose between new notes with a term of 5-9 years or a combination of various securities[14]. - The total principal amount of new notes to be issued under the SJ agreement is $6.5 billion, distributed among SJ creditors based on their rights[16]. - Under the TJ agreement, the total principal amount of new notes to be issued is $800 million, allocated to TJ creditors proportionally[17]. - The company's ability to continue as a going concern depends on successfully completing the proposed offshore debt restructuring and negotiating extensions with remaining lenders[18]. - The company has maintained active communication with creditors to secure support for the restructuring agreements[18]. Assets and Operations - The total assets of the group as of June 30, 2023, were RMB 1,743.99 billion, a decrease from RMB 1,838.34 billion as of December 31, 2022[3]. - The group held land reserves of 1.9 million square meters as of June 30, 2023, and participated in 78 renovation projects, including 55 in the Greater Bay Area[2]. - The company achieved contract sales amounting to RMB 33,413 million and a sales area of 5.115 million square meters in the first half of 2023, with cumulative sales receipts of RMB 27,100 million[28]. - The company continues to focus on the completion and delivery of real estate projects to ensure stable and sustainable operations[12]. - Future strategies include enhancing internal risk control, improving management efficiency, and stabilizing operations while ensuring the delivery of properties[29]. Corporate Governance - The accounting policies used in the interim financial statements are consistent with those applied in the audited financial statements for the year ended December 31, 2022[19]. - The company has adopted the standard code of conduct for securities trading as per the Hong Kong Stock Exchange rules, confirming compliance by all directors as of June 30, 2023[50]. - The company has adhered to all provisions of the corporate governance code as of June 30, 2023[51]. - The audit committee, composed of independent non-executive directors, has reviewed the interim results for the six months ended June 30, 2023[52]. Employee and Operational Costs - The group has 109,085 employees as of June 30, 2023, with total employee costs around RMB 2.78 billion for the first half of 2023[42]. - Sales and marketing costs increased by 30.4% from RMB 2.35 billion in the first half of 2022 to RMB 3.07 billion due to higher business volume[34]. - Administrative expenses decreased by 32.8% from RMB 5.6 billion in the first half of 2022 to RMB 3.76 billion due to significant cost-cutting measures[35]. - The operating loss for the period amounted to RMB 17.38 billion[35]. - Non-operating losses totaled RMB 15.03 billion, primarily due to legal disputes and other losses[37]. Shareholder Information - The company has not declared an interim dividend for the six months ended June 30, 2023, consistent with the previous year[26]. - The company reported a basic loss per share for the six months ended June 30, 2023, which was the same as the diluted loss per share due to the anti-dilutive effect of share options[25]. - The company's shares were suspended from trading on March 21, 2022, and trading is set to resume on August 28, 2023[53].

Financial Performance - In 2022, China Evergrande Group achieved contract sales amounting to RMB 31.7 billion, with a total sales area of 3.904 million square meters, and total sales receipts of RMB 35.79 billion[14]. - The group delivered a total of 301,000 units in 2022, with 732 projects fully resumed for delivery[12]. - The group's revenue for the year was RMB 230.07 billion, with real estate development revenue contributing RMB 223.91 billion[16]. - The company reported a net loss of RMB 57.11 billion for the year, primarily due to land recovery losses and joint venture investment losses[17]. - The company recorded an operating loss of RMB 43.39 billion for the year[19]. - The group reported a net loss of approximately RMB 125.814 billion for the year ended December 31, 2022[94]. - Total revenue for 2022 was RMB 230,067 million, a decrease of 8.0% from RMB 250,013 million in 2021[102]. - Gross profit for 2022 was RMB 24,987 million, compared to a gross loss of RMB 18,448 million in 2021[102]. - The company reported a significant reduction in financial asset impairment losses, which were RMB 12,384 million in 2022 compared to RMB 50,376 million in 2021[102]. - The group reported a total loss of RMB 125,814 million for the year, with a pre-tax loss of RMB 112,763 million[200]. Liabilities and Debt - As of December 31, 2022, the group's total liabilities amounted to RMB 2,437.41 billion, with a net debt level of RMB 1,716.39 billion after excluding contract liabilities[16]. - The average interest rate on the group's borrowings as of December 31, 2022, was 8.12%[16]. - As of December 31, 2022, the company had significant contingent liabilities totaling approximately RMB 46.78 billion, an increase from RMB 9.24 billion in the previous year[22]. - The group had current and non-current borrowings of approximately RMB 587.123 billion and RMB 25.268 billion, respectively[94]. - The group’s total financial liabilities as of December 31, 2022, were RMB 1,712,221 million, with short-term borrowings of RMB 705,062 million and accounts payable of RMB 1,007,159 million[184]. - The group faces liquidity challenges and is taking measures to alleviate current liquidity difficulties due to financial difficulties[183]. Assets and Cash Flow - The group maintained a land reserve of 210 million square meters as of December 31, 2022, and participated in 79 urban renewal projects[13]. - The total cash and cash equivalents at the end of 2022 were RMB 4,334 million, down from RMB 5,435 million at the end of 2021[107]. - The net cash flow from operating activities for the year ended December 31, 2022, was RMB 41,605 million, compared to RMB 36,373 million in 2021, reflecting an increase of approximately 6.8%[106]. - The net cash used in operating activities was RMB 12,217 million for 2022, significantly improved from RMB 51,601 million in 2021, indicating a reduction of approximately 76.4%[106]. - The carrying value of properties under development was RMB 1,136,084 million as of December 31, 2022, down from RMB 1,263,410 million in 2021, representing approximately 67% of the total asset value[192]. Governance and Compliance - The group has established a strong governance structure with independent non-executive directors bringing extensive experience in finance and asset management[26]. - The company has complied with the corporate governance code, with the roles of chairman and CEO held by different individuals, ensuring proper governance practices[32]. - The board is responsible for strategy development, monitoring business performance, and approving major expenditures and investments[32]. - The company has mechanisms in place to protect assets from unauthorized use or disposal, maintaining appropriate accounting records[32]. - The company has adopted a whistleblowing policy to ensure confidentiality and anonymity for reporting potential misconduct[57]. Risk Management - The risk management framework has been continuously improved, with a clear organizational structure for risk management established[37]. - The board is responsible for evaluating and determining the nature and extent of risks acceptable to the group in achieving strategic objectives[38]. - The management is tasked with establishing and maintaining effective risk management and internal control systems[38]. - The group has implemented a policy to ensure that customers engaged in credit sales have sufficient financial capacity and pay an appropriate deposit[178]. - The group has established monitoring procedures to ensure timely follow-up actions for overdue balances and regularly reviews the recoverable amounts of trade receivables[178]. Employee and Management - The total employee cost for the group was approximately RMB 4.63 billion, a decrease from RMB 14.07 billion in the previous year[23]. - The company has committed to providing competitive compensation and development opportunities to employees, enhancing their performance and job satisfaction[66]. - The company emphasizes employee training and development, providing various in-job training programs to enhance professional skills[90]. - The company has a structured approach to governance, with clear guidelines on the rights and interests of directors under service contracts[67]. - The company has established a fair and safe working environment, promoting diversity and providing adequate training resources for employees[66]. Strategic Initiatives - Future plans include ensuring the smooth progress of key projects like "guaranteeing delivery" and exploring efficient disposal of core assets[15]. - The company is focusing on the completion and delivery of real estate projects to ensure stable and sustainable operations[110]. - The company is actively pursuing an offshore debt restructuring plan, with a restructuring support agreement (RSA) signed with the Ad Hoc Group (AHG) on April 3, 2023, aimed at providing a sustainable capital structure and protecting stakeholder interests[111]. - The group is exploring new strategies for market expansion and product development in the real estate sector[28]. - The company aims to maintain a sustainable capital structure to reduce funding costs and may adjust dividend payments or issue new shares as necessary[186]. Accounting and Financial Reporting - The group adopts the acquisition method for business combinations, measuring the transferred consideration at fair value, including any contingent liabilities[120]. - The group recognizes impairment losses on trade receivables based on historical default rates and forward-looking estimates[143]. - The group recognizes provisions when there is a legal or constructive obligation arising from past events, and the amount can be reliably estimated[159]. - Revenue is recognized when control of the asset is transferred to the customer, either over time or at a point in time, depending on contract terms[161]. - The group recognizes lease income on operating leases on a straight-line basis over the lease term, ensuring consistent revenue recognition[168].

INTERIM REPORT China Evergrande Group 2022 INTERIM REPORT 2022 China Evergrande Group 2 中期報告 中國恒大集團 中國恆大集團 CHINA EVERGRANDE GROUP 股份代號 : 3333 (於開曼群島註冊成立的有限責任公司) 中國恒大集團 China Evergrande Group 中國恒大集團 中期報告 2022 Street the same of the Market of the subscription of the managements of the first for the and states the start for the Tic 1 1 官方 的生活在 ALL AND THE LEA ALLAND childer Are · · · · · · · · · · · ---- ANT SHARE and and House A FE Landus (16) 11 3 21 (11 11 and and the may ASSAULTERS 1 28 - 11 4 0 0 10 0 BAN ...

Financial Performance - In 2021, the group achieved a contract sales amount of RMB 372.9 billion, with a total sales area of 52.02 million square meters, and total sales receipts of RMB 387.6 billion[14]. - The group's revenue for the year was RMB 250.01 billion, with real estate development revenue contributing RMB 226.15 billion from 770 projects delivered[17]. - The gross loss for the year was RMB 18.45 billion, resulting in a negative gross margin of 7.4% due to significant promotional inventory turnover[17]. - Other losses for the year totaled RMB 129.83 billion, primarily from land recovery losses and joint venture investment losses[18]. - The group reported a net loss of approximately RMB 686.22 billion for the year ended December 31, 2021[114]. - Total revenue for 2021 was RMB 250,013 million, a decrease of 50.7% compared to RMB 507,248 million in 2020[121]. - The company reported a net loss attributable to shareholders of RMB 686,219 million for 2021, compared to a profit of RMB 31,400 million in 2020[122]. - The total comprehensive loss for the year amounted to RMB 686,634 million, compared to a comprehensive income of RMB 31,035 million in 2020[122]. Debt and Liabilities - As of December 31, 2021, the total liabilities of China Evergrande Group amounted to RMB 2,580.15 billion, with a net debt (excluding contract liabilities) of RMB 1,605.80 billion, a decrease of RMB 159.18 billion from the end of 2020[12]. - The company has initiated a debt reduction strategy, reducing interest-bearing liabilities by approximately RMB 300 billion from March 2020 to June 2021[12]. - The group incurred financial costs of RMB 41.62 billion during the year[17]. - The group recorded a cash and cash equivalents total of RMB 28.78 billion as of December 31, 2021, with an additional RMB 31.32 billion in restricted cash[19]. - The group’s total borrowings amounted to approximately RMB 602.65 billion in current borrowings and RMB 4.72 billion in non-current borrowings as of December 31, 2021[114]. - The group faced liquidity issues leading to employee turnover, which hindered the ability to obtain sufficient audit evidence for the opening balances[116]. - The independent auditor was unable to express an opinion on the consolidated financial statements due to significant uncertainties regarding the company's ability to continue as a going concern[113]. Restructuring and Future Plans - The company plans to focus on restructuring and improving operational efficiency in the upcoming fiscal year[121]. - A restructuring support agreement was signed with the Ad Hoc Group on April 3, 2023, aimed at providing a sustainable capital structure and protecting stakeholder interests[133]. - The proposed restructuring is expected to be implemented by October 1, 2023, with a final deadline of December 15, 2023[133]. - The board believes that through the proposed debt restructuring plans, the company will have sufficient funds to meet its financial obligations for the next 12 months[138]. - The company is actively negotiating loan extensions with domestic lenders to alleviate liquidity pressure and has achieved several business collaborations for new financing[132]. Corporate Governance - The company emphasizes high standards of corporate governance, focusing on internal controls, risk management, and accountability to shareholders[41][42]. - The board has reviewed the effectiveness of the risk management and internal control systems, deeming them effective and sufficient as of December 31, 2021[41]. - The company has a commitment to corporate governance principles, adhering to the guidelines set forth in the corporate governance code[41]. - The independent non-executive directors have been appointed for a term of one year, ensuring regular rotation and compliance with company bylaws[41]. - The company has established mechanisms to ensure the board receives independent views and advice, with at least three independent non-executive directors[43]. Employee and Organizational Structure - As of December 31, 2021, the group had a total of 121,368 employees, with nearly 90% holding a bachelor's degree or higher[33]. - The total employee cost for the group was approximately RMB 14.07 billion for the year ending December 31, 2021, compared to RMB 29.02 billion for the previous year[33]. - The company believes that its employees are its most valuable asset and provides training and development opportunities to enhance their career prospects[104]. Risk Management - The company has a strong focus on enhancing its risk management strategies in response to evolving market conditions and internal operations[55]. - The risk management process includes identification, assessment, response, monitoring, and reporting, with a focus on continuous monitoring and management of risks[51]. - The group updated its risk assessment standards based on changes in the internal and external environment, focusing on the nature of business and operational characteristics[51]. - The internal audit function supervises and evaluates the risk management work of the Group and its subsidiaries[50]. Shareholder Communication and Transparency - The company values communication with institutional investors to enhance transparency and gather feedback[74]. - The company has established a shareholder communication policy to ensure equal and timely access to information for shareholders[72]. - The company confirmed that all directors complied with the standard code of conduct for securities trading during the year ending December 31, 2021[65]. Environmental, Social, and Governance (ESG) - The company emphasizes its commitment to environmental protection and has implemented best industry practices across its business segments[102]. - The company has adhered to relevant environmental, social, and governance regulations, with its ESG report to be disclosed separately after the annual report[104]. Financial Reporting and Accounting Policies - The group consolidates subsidiaries from the date control is transferred and ceases consolidation when control is lost, ensuring necessary adjustments for consistency with accounting policies[141]. - Revenue is recognized when the control of the asset is transferred to the customer, either over time or at a point in time, depending on the contract terms[183]. - The group recognizes impairment losses on trade receivables based on historical default rates and forward-looking estimates[165].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失 承擔任何責任。 CHINA EVERGRANDE GROUP 中 國 恒 大 集 團 （ 於開曼群島註冊成立的有限責任公司） （股份代號：3333） 截至2022年12月31日止年度 業績公告 | --- | --- | --- | |-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失 承擔任何責任。 CHINA EVERGRANDE GROUP 中 國 恒 大 集 團 （ 於開曼群島註冊成立的有限責任公司） （股份代號：3333） 截至2022年6月30日止六個月 未經審核之中期業績公告 | --- | --- | |-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Financial Performance - The group's revenue for the year ended December 31, 2021, was RMB 250.01 billion, a significant decrease from RMB 507.25 billion in 2020, reflecting a decline of approximately 50.7%[6] - The group reported a gross loss of RMB 18.45 billion for the year, compared to a gross profit of RMB 123.50 billion in the previous year[6] - The net loss for the year was RMB 686.22 billion, a stark contrast to a profit of RMB 31.40 billion in 2020[6] - The total comprehensive loss for the year was RMB 686,634 million, significantly higher than the comprehensive income of RMB 31,035 million in the previous year[7] - The company’s basic and diluted loss per share for the year was RMB 36.006, compared to earnings of RMB 0.613 per share in 2020[7] - The group recorded a net loss attributable to shareholders of RMB (476,035) million for the year ended December 31, 2021, compared to a profit of RMB 8,076 million in 2020, reflecting a substantial decline in profitability[29] - The basic loss per share for the year ended December 31, 2021, was RMB (36.006), compared to earnings of RMB 0.613 per share in 2020, indicating a significant deterioration in financial performance[29] - The group’s income from property sales was RMB 226,149 million for the year ended December 31, 2021, a decrease of 54.4% from RMB 494,550 million in 2020, highlighting challenges in the property market[26] - The group’s rental income for the year ended December 31, 2021, was RMB 782 million, down from RMB 1,275 million in 2020, indicating a decline in rental revenue[26] Debt and Liabilities - As of December 31, 2021, the total debt of China Evergrande Group amounted to RMB 2,580.15 billion, with net debt after excluding contract liabilities at RMB 1,605.8 billion[2] - The total liabilities of the group increased from RMB 1,950.73 billion in 2020 to RMB 2,580.15 billion in 2021[5] - As of December 31, 2021, the company had total liabilities of approximately RMB 473,054 million, with net current liabilities of RMB 627,315 million[13] - The group’s total liabilities as of December 31, 2021, were RMB 614,208 million, slightly down from RMB 621,715 million in 2020, showing a marginal improvement in debt management[25] - The group has significant contingent liabilities amounting to approximately RMB 9.24 billion as of December 31, 2021, compared to none as of December 31, 2020[61] Cash and Assets - The group's cash and cash equivalents decreased significantly to RMB 5.44 billion from RMB 158.75 billion in 2020[3] - As of December 31, 2021, the total cash (including cash and cash equivalents and restricted cash) was approximately RMB 28,776 million[36] - The group's non-current assets totaled RMB 213.28 billion, down from RMB 396.23 billion in 2020[3] - The total assets of the group were RMB 2,107.10 billion, a decrease from RMB 2,301.16 billion in the previous year[4] - The group has a land reserve of 260 million square meters and is involved in 93 urban renewal projects, with 66 located in the Greater Bay Area[43] Restructuring and Financing - The company is actively pursuing an offshore debt restructuring plan, with a restructuring support agreement (RSA) signed with the Ad Hoc Group (AHG) on April 3, 2023, aimed at providing a sustainable capital structure and protecting stakeholder interests[14] - The proposed restructuring is expected to be implemented through one or more agreements, with an effective date anticipated on October 1, 2023, and a final deadline of December 15, 2023[14] - The company is actively seeking new financing and additional capital through various channels, including asset management companies and financial institutions[13] - The company has engaged in negotiations with creditors to extend loan agreements, reflecting efforts to alleviate liquidity pressures[13] - The board has reviewed cash flow forecasts covering at least 12 months from December 31, 2022, and believes the restructuring plan will provide adequate funding for operations and financial obligations[20] Operational Challenges - The company faced significant uncertainties regarding its ability to continue as a going concern due to various factors, including ongoing litigation and arbitration cases[36] - The independent auditor was unable to express an opinion on the consolidated financial statements due to the inability to obtain sufficient appropriate audit evidence[35] - There were difficulties in obtaining sufficient information to audit the opening balances due to employee turnover, impacting the audit of the financial statements[38] - The company has taken several measures to improve its liquidity and financial position, but the effectiveness of these measures is uncertain[37] Corporate Governance - The company has adhered to all corporate governance codes as per the listing rules for the year ending December 31, 2021[73] - The audit committee, composed of all independent non-executive directors, has reviewed the group's annual performance for the year ending December 31, 2021[73] - The board of directors confirms that all directors have complied with the standard code for securities transactions for the year ending December 31, 2021[72] Shareholder Actions - The board recommended not to declare a final dividend for the year ended December 31, 2021[69] - The company did not declare any dividends for the year ended December 31, 2021, with the final dividend for 2020 being RMB 0.152 per share, totaling approximately RMB 2,012 million[32] - Trading of the company's shares has been suspended since March 21, 2022, and will continue until further notice[74]

の國 大 CHINA EVERGRANDE GROUP China Evergrande Group 中 國 恒 大 集 團 (於開曼群島註冊成立的有限責任公司) 股份代號 : 3333 官員 電 年 A STATUS BE IN THE CHART CONTRACT PARTY CONTRACT CONTRACT COLLECTION CONTRICT COLLECTION CON 一 一 | --- | |----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | | 集團已完成從地產向「多元產業+數字科技」轉型,逐步 分拆集團優質資產上市,構築以固定空間和移動空間為 主體的同心多元產業生態圈,通過八大產業平台聯動, 形成數據閉環,服務數億用戶 個城市 | | | 14 ...