Core Viewpoint - China Evergrande Group's listing status will be officially canceled on August 25, 2025, marking the end of its approximately 16-year presence in the stock market [2][3][4]. Group 1: Company History and Performance - Evergrande was listed in Hong Kong on November 5, 2009, with a market capitalization exceeding HKD 70 billion, becoming the largest private real estate company from mainland China at that time [4]. - The company achieved a sales scale of CNY 373.4 billion in 2016, ranking first in the industry and entering the Fortune Global 500 list, with total assets surpassing CNY 1 trillion for the first time [4]. - In 2017, Evergrande reached a peak with total assets of CNY 1.7618 trillion, core net profit of CNY 40.5 billion, and sales exceeding CNY 370 billion, solidifying its industry leadership [4]. Group 2: Financial Challenges and Decline - In 2020, Evergrande announced a strategy to reduce debt and control scale, but the company's financial troubles became apparent, leading to a liquidity crisis in 2021 [4][5]. - The company reported a staggering cumulative loss exceeding CNY 800 billion for the fiscal years 2021 and 2022, setting a record for the highest loss by a Chinese enterprise [5]. - Following investigations into Evergrande and its founder, the company faced difficulties in executing its overseas debt restructuring plan, culminating in a court-ordered liquidation on January 29, 2024 [6].

Core Viewpoint - China Evergrande Group has been delisted from the Hong Kong Stock Exchange after failing to meet the requirements for resuming trading, marking the end of its tumultuous journey in the capital market [2][18]. Group 1: Company Overview - China Evergrande was once a leading real estate company, known for its rapid expansion and high leverage, aiming to become a global real estate giant [3][16]. - The company was listed on the Hong Kong Stock Exchange on November 5, 2009, with a closing price of HKD 4.7, becoming the largest private real estate company listed in Hong Kong at that time [16]. - The company faced significant controversies, including a liquidity crisis that began in 2021, leading to a decline in its stock price from HKD 14 to below HKD 2 within a year [17]. Group 2: Delisting Details - On August 12, 2025, the Hong Kong Stock Exchange announced the cancellation of China Evergrande's listing due to the company's inability to meet the resumption requirements [2][18]. - The last trading day for the company's shares was August 22, 2025, with the delisting effective from August 25, 2025 [2]. Group 3: Legal and Financial Issues - Following the issuance of a winding-up order by the Hong Kong High Court 18 months prior, multiple subsidiaries of China Evergrande also received winding-up orders [5]. - The liquidators have been investigating the company's affairs and have initiated legal actions against key figures, including founder Hui Ka Yan, for alleged breaches of duty related to financial statements from 2018 to 2020 [6][8]. - The liquidators are pursuing claims for approximately USD 6 billion (around RMB 43.8 billion) in dividends and compensation from Hui Ka Yan and others, with a court ruling freezing assets worth HKD 60 billion (approximately RMB 55 billion) globally [5][12].

Core Viewpoint - China Evergrande Group will officially delist from the Hong Kong Stock Exchange on August 25, 2025, after failing to meet any of the six resumption guidelines set by the exchange, following an 18-month trading suspension [1][2]. Group 1: Delisting and Market Impact - The last trading price for China Evergrande was HKD 0.163 per share, resulting in a final market capitalization of HKD 21.5 billion [1]. - The company has confirmed that it will not seek a review of the delisting decision made by the listing committee [1]. - Following the delisting, the shares will remain valid but will no longer be traded on the Hong Kong Stock Exchange, and the company will not be subject to listing rules [1]. Group 2: Reasons for Delisting - China Evergrande failed to complete any of the six resumption guidelines, which included the withdrawal or lifting of liquidation orders and the publication of all outstanding financial results [2]. - The continuous suspension began on January 29, 2024, and led to the company's delisting [2]. Group 3: Liquidation Process - The liquidation process for China Evergrande is ongoing, with the liquidators stating that the value of the company's assets and liabilities remains unclear, making it difficult to provide guidance on debt repayment expectations [2]. - The liquidators have taken control of over 100 companies associated with China Evergrande, with total asset values estimated at approximately HKD 27 billion, but the realizable amount is uncertain [2]. - To date, the liquidators have managed to realize approximately HKD 2 billion (USD 255 million) in asset sales, with only USD 1.67 billion recovered [2]. Group 4: Legal Actions - The liquidators are pursuing multiple legal actions, including a notable case against seven defendants, including Xu Jiayin, to recover approximately USD 6 billion in dividends and compensation previously paid [3]. Group 5: Industry Context - The real estate sector has seen an acceleration in debt restructuring efforts among distressed companies, with several firms successfully obtaining approval for their restructuring plans, involving a total debt of approximately one trillion yuan [3].

Core Viewpoint - China Evergrande Group has been delisted from the Hong Kong Stock Exchange due to failure to meet the resumption requirements, marking the end of its 16-year presence in the capital market [1] Financial Misconduct - China Evergrande inflated its revenue by over 560 billion yuan in 2019 and 2020, with a total of 564.15 billion yuan in inflated revenue and 92.01 billion yuan in inflated profits [2] - The former Vice Chairman and President, Xia Haijun, was fined 15 million yuan and banned for life from the securities market due to his role in the financial misconduct [2] Debt Situation - As of June 30, 2023, China Evergrande's total liabilities amounted to 2.39 trillion yuan, total assets were 1.74 trillion yuan, and net assets were -644.2 billion yuan, indicating a severe financial crisis [2] Legal and Operational Developments - The chairman, Xu Jiayin, has been taken into custody for suspected illegal activities, and former executives have also faced legal actions [3] - China Evergrande has filed for liquidation in Hong Kong, with the court ruling that only statutory creditors can participate in the liquidation process, excluding economic interest holders [4] Asset Management - The liquidators revealed that Evergrande has less than 10 billion HKD in overseas assets available for disposal, including shares in Evergrande Property and stakes in Evergrande Auto [4] - Legal actions have been initiated to recover 6 billion USD in dividends and salaries from former executives, including Xu Jiayin and his ex-wife [4] Market Valuation - Once valued at 400 billion HKD in 2017, China Evergrande's market capitalization has plummeted to approximately 2.15 billion HKD, reflecting a significant decline in investor confidence [6]

由于多层次的股权结构及集团内复杂的债务安排，恒大的清盘工作进展缓慢，重组前景尚不明朗。 此次清盘不仅是恒大自身的重大转折，也将在长远影响中国房地产行业的格局。 据公告的首份清盘报告，恒大清盘工作复杂且耗时，涉及四大核心范畴：重组、资产处置、破产原因调 查以及债务厘清。 目前，清盘人仍未能明确找到可行的整体重组路径。尽管恒大新能源部分投资方案一度吸引潜在投资 者，但未能成功落实。 截至目前，恒大面临数百宗债权人诉讼，大多针对其内地子公司，导致资产被冻结并启动强制执行程 序，部分项目已被信托公司接管。 2025年8月12日晚，中国恒大集团（03333.HK）（下称：恒大）公告披露，恒大已收到香港联合交易所 （联交所）通知，因未能满足复牌指引且股价自2025年7月28日起未恢复交易，联交所决定取消恒大上 市地位。 根据公告，恒大的股票最后交易日为2025年8月22日，预计2025年8月25日上午九时起正式退市，恒大的 16年上市历史宣告结束。 2024年1月29日，香港高等法院裁定恒大清盘，并停牌、暂停交易。本次公告，恒大宣布不申请覆核该 决定，标志着其在资本市场的彻底退场。 恒大作为控股公司，其主要资产为附属公司 ...

【#中国恒大8月25日起取消上市地位#】据人民财讯8月12日电，中国恒大(03333.HK)在港交所公告，8 月8日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7月28日之前恢复买卖，联交所的上市委员会根据相关上市规则已决定取消 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2025年8月25日上午9时起取消股份上 市地位。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。 ...

8月12日，中国恒大集团发布公告称，公司于2025年8月8日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)条已决定取消本公司的上市地位。 股份上市的最后一天为2025年8月22日，并将于2025年8月25日上午九时起取消股份上市地位。公司无意就上市委员会作出取消上市地位的决定申 请覆核。 中国恒大表示，公司所有股东、投资者及潜在投资者应注意，于最后上市日期后，尽管股份的股票仍然有效，但股份将不会在联交所上市及不可 于联交所买卖。此后，本公司将不再受上市规则规管。 对于清盘进展情况，在中国恒大取消上市地位前，清盘人拟向公司的持有者提供一份报告，概述公司在2024年1月29日至2025年7月31日期间的清 盘进度。 在港股市场，长时间停牌的股票将面临退市的风险。根据上市规则，联交所可将任何已连续18个月暂停交易的证券除牌。 停牌前，中国恒大股价仅剩0.163港元/股，总市值为21.52亿港元。 2023年9月，中国恒大创始人许家印因涉嫌违法犯罪，被依法采取强制措施，曾经的" ...

Core Viewpoint - China Evergrande Group has been delisted from the Hong Kong Stock Exchange after failing to meet the resumption requirements set by the exchange, marking the end of its tumultuous journey in the capital market [1][20]. Group 1: Company Background and Timeline - China Evergrande was listed on the Hong Kong Stock Exchange on November 5, 2009, with a closing price of HKD 4.7, becoming the largest private real estate company listed in Hong Kong at that time [18]. - The company experienced rapid expansion and diversification under founder Xu Jiayin, venturing into various sectors including real estate, finance, and health [18][19]. - In January 2024, the Hong Kong High Court issued a winding-up order against China Evergrande, initiating a countdown to its delisting [4]. Group 2: Financial and Legal Issues - The company has faced significant financial challenges, including a liquidity crisis that began in 2021, leading to a drastic decline in stock price from HKD 14 to below HKD 2 within a year [19][20]. - Multiple subsidiaries of China Evergrande have also received winding-up orders, and the appointed liquidators are focused on investigating the company's affairs and recovering assets for creditors [7][8]. - The liquidators have filed lawsuits against Xu Jiayin and other executives for alleged breaches of duty related to financial statements from 2018 to 2020, seeking approximately USD 6 billion in claims [8][15]. Group 3: Market Impact and Future Outlook - Following a 500-day trading suspension, China Evergrande's stock resumed trading in August 2023 but quickly fell to HKD 0.16 by January 29, 2024, with a total market value of approximately HKD 21.52 billion (around RMB 19.7 billion) [20]. - The delisting decision was made official on August 12, 2025, with the last trading day set for August 22, 2025, marking a significant decline from its previous market position [1][20].

中國恒大集團 (清盤中) (於開曼群島註冊成立的有限責任公司) (股份代號:3333) (1) 上市委員會的決定 (2) 清盤人的進展報告 R (3) 繼續停牌 8月12日晚，中国恒大公告称，公司将被取消上市地位。 公告显示，8月8日，公司收到联交所发出的信函，表示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，联交所上市委员会根据上市规则已 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。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。 公告提示，最后上市日期后，尽管股份仍然有效，但股份将不会在联交所上市，也不可在联交所买卖。 此后，公司将不再受上市规则监管。在公司取消上市地位前，清盘人拟向公司的持份者提供一份报告， 概述公司于2024年1月29日至2025年7月31日期间的清盘进度。 根据公告，公司股票自2024年1月29日（星期一）上午10时18分起暂停买卖，并将继续停牌，直至取消 上市地位。 数据显示，截至停牌前，中国恒大股价报0.163港元/股，总市值为22亿港元。 E 7 A FEE A EVERGRANDE G ...

金融界8月12日消息 港交所重磅出手，中国恒大遭退市！ 12日晚间，一直处于停牌状态的中国恒大突然发布公告。中国恒大表示，于2025年8月8日公司收到联交 所发出的信函，表示基于本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) 条已决定取消本 公司的上市地位。 公告显示，2025年8月22日是中国恒大上市的最后一天，8月25日上午9时起取消股份上市地位。 据腾讯新闻《潜望》报道称，曾从知情人士处获悉，许家印的"前妻"丁玉梅在得知内地有企业家因许家 印被边控后，随即买了机票离开香港。在此之前，她一直在香港协助有关机构进行恒大集团的债务重组 事宜。关于她身处何处，暂不知晓。 近日，一份来自香港高等法院的文书引起广泛关注。 根据3月18日香港高等法院披露的文书显示，法官高浩文审理了原告清算人与被告丁女士（以下称"丁玉 梅"）之间的两项申请。 值得注意的是，按照香港联交所的相关规定，其若停牌18个月，就将面临摘牌的风险。此前中国恒大最 后交易日是2024年1月29日，如今已经逼近18个月大限。当前，中国恒大 ...