Core Viewpoint - China Evergrande Group, once a prominent player in the real estate market, is set to delist from the Hong Kong Stock Exchange on August 25, marking the end of its 16-year capital journey since its listing in 2009 [1][3]. Group 1: Delisting Process - The Hong Kong Stock Exchange issued a letter to China Evergrande on August 8, stating that the company failed to meet any of the requirements for resuming trading [3]. - Evergrande's shares have been suspended since January 29, 2024, and will remain suspended until July 28, 2025, leading to the decision to cancel its listing status [3]. - The last trading day for Evergrande shares is set for August 22, with the official delisting occurring on August 25 at 9 AM [3]. Group 2: Financial Decline - Evergrande's stock price plummeted to HKD 0.163 per share before suspension, with a total market capitalization of HKD 21.52 billion, a stark contrast to its peak market value of HKD 370 billion [4]. - The company has been in a liquidity crisis since 2021, with total liabilities reaching CNY 24,374.1 billion (approximately HKD 30.5 billion) by December 31, 2022 [5][6]. - Evergrande reported cumulative losses exceeding CNY 800 billion (approximately HKD 1 trillion) for the fiscal years 2021 and 2022, setting a record for the highest losses by a Chinese company [5]. Group 3: Asset Liquidation - The liquidators have reported that approximately HKD 2 billion in assets have been realized, with only about HKD 81.7 million coming from assets directly held by Evergrande [6]. - The majority of the realized assets, approximately HKD 1.9 billion, are from subsidiaries [6].
16年征程终结，中国恒大8月25日正式港交所退市