Core Viewpoint - China Evergrande's announcement marks a significant end to its journey in the capital market, as the Hong Kong Stock Exchange has decided to cancel its listing status due to failure to meet resumption requirements after more than 18 months of trading suspension [4][6][7]. Group 1: Impact on Investors - Many investors are expressing despair over their losses, with some reporting losses of up to 500,000 yuan and feeling hopeless about recovering their principal [12][17]. - At its peak, Evergrande's market capitalization exceeded 400 billion HKD, but by the time of its suspension on January 29, 2024, its stock price had plummeted to 0.163 HKD, resulting in a market value of only 2.152 billion HKD, a decline of over 99% from its peak [14][16]. - The announcement clarifies that while shares remain valid post-listing cancellation, they cannot be traded on the exchange, leaving shareholders with little recourse [19][21]. Group 2: Financial and Legal Challenges - Evergrande is facing a massive debt crisis, with liabilities amounting to approximately 350 billion HKD (around 45 billion USD) as of July 31, 2025, and ongoing legal disputes involving 80 cases [24][28]. - The company has only managed to realize about 2.55 billion USD from asset liquidation, which is insufficient to cover its substantial debts [29][32]. - The complexity of Evergrande's corporate structure, with over 3,000 legal entities across various jurisdictions, complicates the asset liquidation process [31]. Group 3: Potential Asset Recovery - Evergrande's property management segment has shown some potential, with reported revenues of approximately 12.756 billion CNY and a net profit of about 1.032 billion CNY in 2024 [33]. - The liquidators are prioritizing the sale of Evergrande's property management business as a key source of value for creditors [34]. - There are ongoing discussions regarding potential investments in Evergrande's automotive division, which could provide significant funding if successful [35]. Group 4: Personal Financial Matters of Executives - The financial status of Evergrande's founder, Xu Jiayin, and his ex-wife, Ding Yumei, remains unclear, with reports suggesting significant asset transfers and purchases made by Ding in London [38][42]. - Legal actions have been initiated to recover approximately 6 billion USD in dividends and compensation from Xu and other executives, with asset freezes imposed on their global assets [43][44].

港交所交易系统显示，中国恒大最后一单股票交易成交价定格在0.163港元，这家曾叱咤房地产行业的 上市公司，在经历15年资本市场沉浮后，最终以21.5亿港元市值黯然退场。中国恒大2009年11月在港交 所敲锣，成为在港上市最大的内地民营房企，2017年10月其市值攀至4144亿港元峰值。创始人许家印也 被推上中国首富宝座。伴随着企业激进扩张，恒大2021年遭遇流动性危机。2024年3月，恒大地产被曝 出财务造假等问题。同年5月，恒大地产被证监会罚款41.75亿元，许家印被顶格处罚，2024年1月29日 中国恒大股份停牌，至今年7月28日已停牌18个月。公告还披露，截至2025年7月31日，清盘人收到187 份债权证明，债权总额约3500亿港元，较2022年底披露的香港上市主体275亿美元负债规模显著增加。 公告显示，8月8日中国恒大收到港交所发出的信函，因该公司未能满足港交所对其施加的复牌指引要 求，且股份一直暂停买卖并未于2025年7月28日前恢复，港交所的上市委员会已决定取消公司的上市地 位。中国恒大股份上市的最后一天为8月22日，8月25日上午9时起取消股份上市地位。 本报讯（记者袁璐）中国恒大集团终迎退 ...

智通财经APP获悉，恒大物业(06666)再涨超9%，截至发稿，涨7.06%，报0.91港元，成交额1.18亿港 元。 据悉，中国恒大发布公告称，香港联交所上市委员会决定取消中国恒大的上市地位，公司无意申请复核 除牌决定。中国恒大将于8月25日上午九时起取消上市地位。值得注意的是，恒大物业一直在寻求摆脱 母公司恒大集团。早在2023年11月，恒大物业官方微信公众号更名为"金碧物业服务"。这一行为曾被业 界解读为恒大物业摆脱恒大集团、走向独立经营的讯号。 消息面上，据报道，法院指定的中国恒大清盘人正与瑞银和中信证券为其子公司恒大物业寻找潜在买 家。报道指，清盘人表示，债权人特别关注恒大物业这一部分资产的处理。他们补充道，该公司90亿元 的市值和去年128亿元人民币的收入，代表重大的潜在价值来源。 ...

来源：新鲜速递 中国恒大集团（03333.HK）的上市地位将于2025年8月25日正式取消，标志着其长达16年的港股历程终 结。以下是关键信息梳理： ⏰ 一、退市核心事实与时间线 退市决定依据 因恒大自2024年1月29日起连续停牌超过18个月，且未能满足港交所任何复牌指引（如提交合规财报、 解决债务重组等），触发《上市规则》第6.01A(1)条"快速除牌机制。 关键时间节点 最后交易日：2025年8月22日 正式摘牌：8月25日上午9时起。 公司态度 恒大公告明确表示"无意申请复核"，接受退市决定。 ⚖️ 二、退市背后的深层原因 财务造假与监管处罚 虚增收入与利润：2019-2020年，恒大通过提前确认收入，虚增金额分别达2139亿元、3501亿元，占当 期披露收入的50%-78%。 欺诈发行债券：利用虚假财报发行208亿元公司债。 港股监管趋严 审计机构重罚：普华永道因审计失职被罚没收入2774万元、罚款2.97亿元，业务暂停6个月。 清盘与资产处置困境 全球资产追讨：清盘人已起诉许家印、丁玉梅、夏海钧等，追索约60亿美元（约438亿人民币）不当股 息及酬金，并冻结其全球600亿港元资产。 资产变现缓慢： ...

Group 1 - Chipone Technology plans to issue H-shares and apply for listing on the Hong Kong Stock Exchange [1] - Wolong Electric submitted a listing application to the Hong Kong Stock Exchange with joint sponsors including CICC, Huatai International, and GF Securities [2] Group 2 - Nike filed a lawsuit against Edison Chen for breach of contract, claiming $126,000 in unpaid goods [3] - China Evergrande's listing status will be canceled on August 25 due to failure to meet the Hong Kong Stock Exchange's requirements [4] Group 3 - Mercedes-Benz CEO warned that the European automotive industry could face collapse without fuel vehicles [4] - Multiple video platforms have limitations on ad-free experiences for members, with some ads still appearing even for paid subscriptions [5] Group 4 - Li Auto aims to deliver over 8,000 units of the Li i8 by the end of September, with a challenge to reach 10,000 units [6] - Xiaomi appointed several executives for its African market to increase investment and operations [9] Group 5 - Tencent reported Q2 2025 revenue of 184.5 billion yuan, a 15% year-on-year increase, with significant growth in various service segments [20] - Youyan Silicon reported a net profit of 106 million yuan for the first half of 2025, a decline of 18.74% year-on-year [21] - Baolidi achieved a net profit of 63.8 million yuan in the first half of 2025, a 15.19% increase year-on-year [22] - Hatou Co. reported a net profit of 380 million yuan for the first half of 2025, a 233.08% increase year-on-year [23]

Group 1 - The core point of the article is that China Evergrande Group is set to delist from the stock market by August 25, 2025, following a failure to meet resumption guidelines, leading to a suspension of trading from January 29, 2024 [2][5] - Evergrande's stock price has plummeted to 0.163 HKD, with a total market value of 21.52 billion HKD (approximately 1.97 billion RMB) [5] - The delisting marks the end of Evergrande's 16-year presence in the capital market, significantly impacting the real estate industry and reshaping its ecological landscape [7] Group 2 - Evergrande's collapse has triggered a dramatic decline in the market value of other real estate companies, with a cumulative drop exceeding 90% prior to the trading suspension, resulting in a loss of 300 billion HKD in market capitalization [7] - The event has exposed liquidity crises stemming from high turnover models, leading to widening credit spreads in the domestic bond market for real estate firms, indicating risk transmission to related sectors such as building materials and home furnishings [7] - The situation has instigated widespread panic in the market, raising concerns about the viability of other real estate companies, which has led to a decline in stock and bond prices across the sector [7][8] Group 3 - For consumers who purchased Evergrande properties, invested in financial products, or held stocks, the situation represents a disaster, with potential for unfinished properties and significant financial losses [8] - The Evergrande incident serves as a warning for the industry, signaling the end of aggressive borrowing and rapid land acquisition strategies, as government policies tighten to enforce debt reduction and ensure project completion [8][9] - The narrative of Evergrande's rise and fall illustrates the fragility of a growth model built on debt, emphasizing that such prosperity is ultimately unsustainable [10]

【#中国恒大退市#，公司无意就此申请复核】 据每日经济新闻报道，8月12日晚，中国恒大公告，公司收到联交所发出的信函，表示基于公司未能满 足联交所对其施加的复牌指引中的任何要求，且股份一直暂停买卖并未于2025年7月28日之前恢复买 卖，联交所的上市委员会根据上市规则第6.01A(1)条已决定取消公司的上市地位。 股份上市的最后一天为2025年8月22日，并将于8月25日上午9时起取消股份上市地位。中国恒大表示， 公司无意就上市委员会作出取消上市地位的决定申请复核。 18个月前的2024年1月，中国恒大被香港高等法院正式颁布清盘令，同时宣布又一轮停牌，由此开启摘 牌倒计时。 ...

Group 1 - China Evergrande Group will officially delist from the Hong Kong Stock Exchange on August 25, 2025, with the last trading day being August 22, 2025 [1] - The last trading price for China Evergrande's shares was set at 0.163 HKD, resulting in a market value of 2.15 billion HKD at the time of delisting [1] - China Evergrande was once the largest private real estate company listed in Hong Kong, reaching a peak market value of 414.4 billion HKD in October 2017 [1] Group 2 - The China Securities Regulatory Commission (CSRC) disclosed in March 2024 that Evergrande's 2019 and 2020 annual reports contained false records, inflating 2019 revenue by 213.99 billion CNY and 2020 revenue by 350.16 billion CNY [2] - In May 2024, the CSRC ordered Evergrande to correct its reports, issued a warning, and imposed a fine of 4.175 billion CNY [2] - As of July 28, 2024, China Evergrande had been suspended from trading for 18 months [2]

Core Viewpoint - China Evergrande Group has been delisted from the Hong Kong Stock Exchange due to its failure to meet the resumption guidelines set by the exchange, with trading suspended indefinitely until at least July 28, 2025 [1] Company Information - China Evergrande Group was established in December 2006 [1] - The company currently has 10 enforcement cases with a total amount exceeding 4.28 billion yuan, primarily related to financial loan contract disputes [1] - The enforcement courts include the Guangzhou Intermediate People's Court in Guangdong Province [1] - Additionally, the company has multiple consumption restriction orders and final rulings, with an unfulfilled total amount exceeding 10.8 billion yuan [1]

Core Viewpoint - China Evergrande Group has officially announced its delisting from the Hong Kong Stock Exchange after failing to meet the resumption requirements, marking the end of its approximately 16-year listing journey [4][11]. Group 1: Delisting and Financial Status - On August 12, China Evergrande announced that its listing status would be canceled effective August 25 due to non-compliance with the exchange's resumption guidelines [2][4]. - The company's debt burden has reached HKD 350 billion (approximately USD 450 billion), significantly higher than the previously reported USD 275 billion [11]. - As of now, the company has only managed to recover approximately HKD 20 billion (around USD 2.55 billion) from asset liquidation efforts [11]. Group 2: Legal and Operational Challenges - The liquidation process is expected to take three to five years, with the liquidators required to regularly update creditors on progress through a dedicated website [3]. - Legal actions have been initiated against founder Xu Jiayin and related parties to recover approximately USD 6 billion (around RMB 43.8 billion) in dividends and compensation [14]. - The complexity of asset ownership and the involvement of multiple jurisdictions hinder the liquidation process, leading to low asset realization rates [12]. Group 3: Market Impact and Future Outlook - The delisting of China Evergrande is part of a broader trend, with 21 listed real estate companies having announced their delisting as of November 2024 [16]. - The situation is expected to negatively impact the credibility of Chinese real estate companies in international capital markets, making it more difficult for other distressed firms to secure financing [16]. - The ongoing challenges in debt resolution suggest that the prospects for recovering investments for ordinary shareholders are extremely low [12][13].