Core Viewpoint - China Evergrande has officially been delisted from the Hong Kong Stock Exchange after more than 18 months of suspension, marking the end of its public trading status [1][2]. Group 1: Delisting Details - China Evergrande was suspended from trading on January 29, 2024, and has been unable to resume trading, leading to its delisting on August 25, 2025 [1][2]. - The company’s last trading price before suspension was 0.163 HKD per share, with a total market capitalization of approximately 21.52 billion HKD [1][2]. - The delisting was executed under the "fast-track delisting" mechanism due to the prolonged suspension exceeding 18 months [1][2]. Group 2: Financial Issues - As of June 30, 2022, China Evergrande's total liabilities amounted to 24,740.9 billion CNY, with 16,197.3 billion CNY after excluding contract liabilities [6]. - By the end of November 2023, the company had approximately 316.39 billion CNY in unpaid due debts and 205.54 billion CNY in overdue commercial bills [6]. Group 3: Legal and Regulatory Challenges - The chairman of China Evergrande, Xu Jiayin, was taken into custody in September 2023 for suspected illegal activities, and the company faced administrative penalties for fraudulent bond issuance and information disclosure violations [3]. - The company has been involved in multiple legal proceedings, with the potential for significant financial recoveries through ongoing lawsuits [7]. Group 4: Future Outlook - Despite the delisting, the liquidation process will continue, with the liquidators managing the assets and liabilities of the company [5]. - The liquidators reported that the total value of the group's assets under their control is approximately 2.7 billion HKD, with a cash value of around 200 million HKD [7]. - The delisting allows for more flexible asset management, but it also reduces the transparency and bargaining power of creditors [8].
中国恒大，正式退市