Core Viewpoint - Evergrande Property has received a letter from the liquidators of China Evergrande Group and CEG Holdings Limited regarding potential share sales, indicating ongoing efforts to find buyers for its shares [1][4]. Group 1: Company Developments - The liquidators are seeking opportunities to sell shares held by China Evergrande and CEG Holdings, having signed confidentiality agreements with interested parties [4]. - As of September 11, 2025, Evergrande Property's shares will resume trading on the Hong Kong Stock Exchange after a suspension [4]. - The current controlling shareholder of Evergrande Property remains Xu Jiayin [5]. Group 2: Financial Performance - For the first half of 2025, Evergrande Property reported revenue of approximately 6.647 billion yuan, a year-on-year increase of about 6.9%, and a net profit of approximately 491 million yuan, with a net profit margin of about 7.4%, down by approximately 0.6 percentage points [10]. - The company has a total managed area of approximately 596 million square meters, an increase of about 41 million square meters compared to the previous year [10]. - Evergrande Property is currently in a net current liability position, indicating ongoing cash flow challenges [11]. Group 3: Market Context - In August 2025, it was reported that the liquidators of China Evergrande Group hired UBS and CITIC Securities to find potential buyers for Evergrande Property [9]. - The Hong Kong Stock Exchange canceled the listing status of China Evergrande Group due to failure to meet resumption requirements, with the last trading date being August 22, 2025 [10]. - Industry data shows that the top 50 property management companies have collectively managed an additional 9.86 million square meters from related parties, indicating a trend of growth through association with parent companies [11].

Core Viewpoint - Evergrande Property has received a letter from the liquidators of China Evergrande Group and CEG Holdings Limited regarding the potential sale of shares, indicating ongoing negotiations for a possible transaction [1][4]. Company Overview - Evergrande Property Group Limited is primarily engaged in property management services, community living services, asset management services, and community operation services [6]. - The actual controller of the company is Xu Jiayin, with CEG Holdings (BVI) Limited being the largest shareholder, holding 49.79% [6]. Financial Performance - For the first half of 2025, Evergrande Property reported revenue of approximately 6.647 billion yuan, a year-on-year increase of about 6.9% [9]. - The net profit for the same period was approximately 491 million yuan, with a net profit margin of about 7.4%, reflecting a decrease of approximately 0.6 percentage points year-on-year [9]. - As of June 30, 2025, the total managed area was approximately 596 million square meters, an increase of about 41 million square meters compared to the previous year [9]. Market Activity - The company has been in discussions with creditors to revise repayment plans and has implemented cost control measures to improve its financial situation [10]. - The company is currently facing cash flow challenges, with a net current liability status impacting its operations [10]. Stock Market Activity - On September 11, 2025, Evergrande Property announced a trading suspension, with its stock price falling below 1 HKD prior to the suspension, resulting in a market capitalization of approximately 9.946 billion HKD (around 910 million RMB) [11].

Core Viewpoint - Evergrande Property has received a letter from the liquidators of China Evergrande Group and CEG Holdings Limited regarding potential share sales, indicating ongoing efforts to find buyers for its shares [1][4]. Group 1: Company Developments - The liquidators are seeking opportunities to sell shares held by China Evergrande and CEG Holdings, having signed confidentiality agreements with interested parties [4]. - As of September 11, 2025, the company has applied to resume trading on the Hong Kong Stock Exchange [4]. - The current actual controller of Evergrande Property remains Xu Jiayin [4]. Group 2: Financial Performance - For the first half of 2025, Evergrande Property reported revenue of approximately 6.647 billion yuan, a year-on-year increase of about 6.9%, and a net profit of approximately 491 million yuan [9]. - The net profit margin was approximately 7.4%, a decrease of about 0.6 percentage points year-on-year [9]. - As of June 30, 2025, the total managed area was approximately 596 million square meters, an increase of about 41 million square meters compared to the previous year [9]. Group 3: Market Context - In August 2025, it was reported that the liquidators had engaged UBS and CITIC Securities to find potential buyers for Evergrande Property [9]. - The company is currently facing cash flow challenges and is in a net current liability position, indicating ongoing liquidity pressures [10]. - The company has reached agreements with several creditors to defer repayment of debts, and is actively negotiating revised repayment plans [10].

Core Viewpoint - Evergrande Property has suspended trading of its shares due to the announcement of insider information in accordance with Hong Kong's Takeovers Code [1] Group 1: Company Performance - In the first half of 2025, Evergrande Property reported revenue of approximately 6.647 billion yuan, representing a year-on-year increase of about 6.9% [3] - The net profit for the same period was approximately 491 million yuan, with a net profit margin of about 7.4%, a decrease of approximately 0.6 percentage points year-on-year [3] - As of June 30, the total managed area of Evergrande Property was approximately 596 million square meters, an increase of about 41 million square meters compared to 555 million square meters on June 30, 2024 [3] Group 2: Financial Challenges - The company has reached agreements with several creditors to defer repayment upon debt maturity and is actively negotiating revised repayment plans with creditors related to business mergers [4] - Despite efforts to reduce liquidity pressure through operational adjustments, the company remains in a net current liability position, indicating ongoing cash flow challenges [5] Group 3: Market Context - In August, it was reported that the liquidators of China Evergrande Group hired UBS and CITIC Securities to seek potential buyers for Evergrande Property [3] - The Hong Kong Stock Exchange has decided to cancel the listing status of China Evergrande Group due to its failure to meet resumption guidelines, with the last trading date being August 22 and the delisting effective from August 25 [3]

9月11日，恒大物业发布公告称，公司股票将自今日上午9时起短暂停止买卖，以待本公司根据香港《公司收购及合并守则》刊发载有本公司内幕消息的公 告。 就在今年8月，由市场消息传出，中国恒大集团清盘人聘请瑞银集团和中信证券，以寻找恒大物业的潜在买家。 同样在8月，中国恒大发布公告称，因未能满足香港联交所复牌指引要求，且未能在2025年7月28日前恢复股份交易，联交所依据《上市规则》决定取消其 上市地位。公告明确，公司股份的最后上市日期为8月22日，上市地位于8月25日上午9时正式撤销。 此前，恒大物业披露的2025年半年报业绩显示，上半年恒大物业营业收入约66.47亿元，同比增长约6.9%，净利润约4.91亿元；净利率约7.4%，同比下降 约0.6个百分点；公司拥有人应占利润约4.72亿元，每股基本盈利约0.04元，公司现金及现金等价物约27.78亿元。截至6月30日，恒大物业总在管面积约 5.96亿平方米，较2024年6月30日总在管面积约5.55亿平方米增加约4100万平方米。 恒大物业在半年报中称，集团已与若干债权人达成协议，在负债到期时不要求立即偿还；集团与业务合并应付对价的债权人积极磋商，修订还款计划；公 ...

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 listing status due to failure to meet the resumption guidelines [1][2]. Group 1: Delisting Details - On August 25, 2023, China Evergrande was categorized as "delisted securities" on the Hong Kong Stock Exchange, confirming its delisting status [1]. - The company had been suspended from trading since January 29, 2024, and had not resumed trading by its last scheduled trading day on August 22, 2023 [2]. - Prior to suspension, the stock price was at 0.163 HKD per share, with a total market capitalization of approximately 21.52 billion HKD [1]. Group 2: Financial Background - China Evergrande was listed on the Hong Kong Stock Exchange in November 2009 and experienced significant growth, reaching a market value of around 400 billion HKD at its peak in 2017 [3]. - By 2021, the company faced severe liquidity issues, leading to a drastic decline in stock price and market value [3]. - As of June 30, 2022, the total liabilities of China Evergrande Group amounted to 24,740.9 billion CNY, with 16,197.3 billion CNY in liabilities after excluding contract liabilities [8]. Group 3: Legal and Regulatory Issues - In September 2023, the chairman of China Evergrande, Xu Jiayin, was taken into custody due to alleged criminal activities [4]. - In May 2024, the China Securities Regulatory Commission imposed administrative penalties on Evergrande for fraudulent bond issuance and information disclosure violations, resulting in a fine of 47 million CNY for Xu Jiayin [5]. Group 4: Future Implications - Despite the delisting, the liquidation process for China Evergrande will continue, with ongoing efforts to manage and recover assets [7]. - As of July 31, 2025, the liquidators reported a total debt claim of approximately 350 billion HKD (45 billion USD) against the company, while the last audited financial report indicated liabilities of about 275 billion USD [9]. - The delisting does not signify the end of the company's obligations; rather, it highlights the unresolved debt issues that affect various stakeholders, including financial institutions and suppliers [9].

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].

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][5][10]. Summary by Sections Delisting Announcement - On August 25, 2025, China Evergrande was listed as "delisted securities" on the Hong Kong Stock Exchange, confirming its delisting status [1][5]. - The company did not seek a review of the delisting decision made by the listing committee [2]. Suspension and Delisting Process - China Evergrande has been suspended since January 29, 2024, and the suspension lasted for 18 months, leading to its delisting under the "fast-track delisting" mechanism of the Hong Kong Stock Exchange [3][10]. - Prior to suspension, the stock price was at 0.163 HKD per share, with a total market capitalization of approximately 21.52 billion HKD [3][6]. Financial Background - At its peak in 2017, China Evergrande's market capitalization reached around 400 billion HKD, but by 2024, it had drastically declined due to liquidity issues [6][10]. - The company faced significant debt issues, with total liabilities exceeding 2 trillion RMB, and it struggled to manage its cash flow against this debt burden [10][11]. Legal and Regulatory Issues - The chairman of China Evergrande, Xu Jiayin, was taken into custody in September 2023 for alleged criminal activities [7]. - In May 2024, the China Securities Regulatory Commission imposed penalties on Evergrande for fraudulent bond issuance and false disclosures, resulting in fines and a lifetime ban for Xu Jiayin from the securities market [8][9]. Ongoing Liquidation Process - Despite the delisting, the liquidation process for China Evergrande will continue, with total liabilities reported at approximately 24.74 billion RMB as of June 30, 2022 [11][12]. - The liquidators have indicated that there is no clear path for restructuring, and ongoing legal actions are expected to recover potential high-value assets [12][13]. Market Impact and Future Outlook - The delisting is seen as a warning to the management regarding the slow pace of debt resolution, which has led to accumulated risks [10][13]. - Post-delisting, the company may have more flexibility in asset disposal, but the transparency and bargaining power of creditors may decrease, potentially leading to judicial liquidation processes [13].

Group 1 - China Evergrande Group is set to delist from the stock market on August 25 after four years of turmoil, marking a significant chapter in its financial struggles [2] - The company's total debt stands at 2.39 trillion yuan, while its total assets are only 1.74 trillion yuan, indicating a substantial gap that complicates debt recovery for creditors [3][4] - The court-appointed liquidators are pursuing not only the assets of Evergrande but also the "illegal gains" of its founder Xu Jiayin and related parties, who have been uncooperative in disclosing their assets [2][3][4] Group 2 - As of July 31, the liquidators have received 187 claims totaling approximately 350 billion HKD (45 billion USD), significantly higher than the last reported debt of 27.5 billion USD in 2022 [3] - The liquidators have initiated legal action against Xu Jiayin and other executives for alleged breaches of duty related to financial statements from 2018 to 2020, seeking to recover around 60 billion HKD (approximately 4.38 billion RMB) in dividends and compensation [4][8] - The Hong Kong High Court has frozen assets worth 60 billion HKD belonging to Xu Jiayin and others, requiring them to disclose their assets [4][8] Group 3 - Xu Jiayin has reportedly transferred 42.7 billion RMB in assets to his ex-wife and established a 2.3 billion USD trust for his children, raising concerns about asset concealment [5][7] - The "technical divorce" between Xu Jiayin and his ex-wife has been interpreted as a strategy to protect assets from creditors [5][7] - The liquidators are focusing on compelling Xu Jiayin to disclose his assets, which could potentially recover a portion of the estimated 45 billion USD in debts owed to creditors [8] Group 4 - Summer Hai Jun, a key figure in Evergrande, has been located in the U.S. after being missing for over a year, with assets including three luxury homes and four cars valued at approximately 24 million USD [9][12] - The court has issued a temporary injunction against assets held by Summer Hai Jun's wife, indicating ongoing legal scrutiny of their financial dealings [11][12] - Summer Hai Jun's past compensation has been substantial, with reported earnings exceeding 1 billion RMB in a single year, highlighting the financial scale of Evergrande's leadership [16][17]

Core Viewpoint - The article discusses the implications of Evergrande's delisting and the beginning of a new phase in the aftermath of its financial crisis, emphasizing the need for accountability and regulatory measures to prevent similar situations in the future [4][6][7]. Group 1: Evergrande's Delisting - On August 12, Evergrande announced its cancellation of listing status, marking a significant event in its financial saga [4]. - The delisting signifies the start of the "post-explosion" era, focusing on addressing issues like unfinished buildings and bad debts [6][7]. - The regulatory focus will shift towards managing risks associated with unfinished projects and financial institutions [7]. Group 2: Accountability and Legal Actions - The liquidators of Evergrande have filed lawsuits against founder Xu Jiayin and other executives, claiming they violated responsibilities by approving misleading financial statements [10]. - The liquidators are seeking to recover approximately $6 billion (around 43.8 billion RMB) in dividends and compensation, with a court ruling to freeze assets worth 60 billion HKD (about 55 billion RMB) [10]. - The article suggests that the accountability measures are crucial to prevent the emergence of similar figures in other industries [17][18]. Group 3: Regulatory Measures for the Automotive Industry - The article raises concerns about potential risks in the automotive sector, suggesting that there may be companies similar to Evergrande [19]. - Regulatory measures, such as a 60-day payment commitment for car companies, are seen as steps to prevent financial misconduct and protect smaller enterprises [20]. - It is recommended that regulators implement a tiered management system for monitoring loss-making companies and closely scrutinize private enterprises to prevent excessive debt [21].