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].
确定退市，“万亿”恒大落幕！许家印、丁玉梅等被追讨超400亿元股息及酬金，全球范围超500亿元资产被冻结