Workflow
恒大地产广东公司被裁定破产清算

Core Viewpoint - The article discusses the bankruptcy proceedings of Evergrande Real Estate Group's Guangdong subsidiary, indicating a significant development in the company's financial distress and the broader implications for its creditors and the real estate industry in China [3][6]. Group 1: Bankruptcy Proceedings - On August 20, 2025, the Guangzhou Intermediate People's Court accepted the bankruptcy liquidation case of Evergrande Real Estate Group Guangdong Co., Ltd., appointing a liquidation team to manage the company [3]. - Creditors are required to declare their claims to the appointed manager by November 20, 2025, marking the formal entry of the company into bankruptcy proceedings [3]. - The Guangdong subsidiary has no independently developed real estate projects and is part of a larger trend where numerous "Evergrande system" companies have entered bankruptcy, including Kailong Real Estate, which declared bankruptcy in late May 2025 [3]. Group 2: Stock Market Implications - On August 12, 2025, China Evergrande announced that it received a letter from the Hong Kong Stock Exchange indicating that it failed to meet the requirements for resuming trading, leading to the decision to cancel its listing status [4]. - The last trading day for the shares was August 22, 2025, with the cancellation of the listing status effective from August 25, 2025 [5]. - The company has no intention to appeal the decision, and after the last trading date, shares will remain valid but will not be tradable on the Hong Kong Stock Exchange [6]. Group 3: Legal and Financial Context - Legal experts noted that the Guangdong subsidiary is heavily indebted with numerous enforcement cases and lacks assets for execution, making bankruptcy a necessary outcome [6]. - The bankruptcy process will involve asset investigation, claim verification, litigation responses, and financial audits, ensuring fair compensation for all creditors through creditor meetings [7]. - In 2024, over 31,000 bankruptcy cases were accepted by courts nationwide, with approximately 29,000 cases concluded, highlighting the prevalence of bankruptcy proceedings in the current economic climate [6].