Core Viewpoint - China Evergrande Group's listing status on the Hong Kong Stock Exchange has been canceled, with the company opting not to appeal the delisting decision, effective from August 25, 2023 [1][2]. Group 1: Company Status - China Evergrande was listed on the Hong Kong Stock Exchange in November 2009 and operated under a "high debt, high turnover" model, but faced ongoing controversies [1]. - The company experienced a liquidity crisis in 2021, leading to a significant decline in its stock price, which was only HKD 0.163 per share at the time of its suspension on January 29, 2024, with a total market capitalization of approximately HKD 2.152 billion [1]. - The company has been under a winding-up order since January 29, 2024, and the delisting was anticipated due to the inability to meet the resumption criteria within the stipulated timeframe [2]. Group 2: Regulatory Context - According to the Hong Kong Stock Exchange's listing rules, a company that is suspended for 18 months may face delisting, which applies to China Evergrande as it could not meet the resumption requirements by the deadline of July 28, 2025 [2]. - The winding-up process is ongoing, with the liquidators expected to provide a report on the progress from January 29, 2024, to July 31, 2025 [2]. Group 3: Industry Implications - The delisting of China Evergrande does not directly impact the operations of its real estate business, which is expected to continue focusing on "ensuring delivery of properties" [3]. - The real estate market is anticipated to undergo a "survival of the fittest" phase, where financially healthy and sustainably operated companies are likely to remain [3].
倒计时！中国恒大8月25日退市