Core Points - China Evergrande Group has officially been delisted after an 18-month suspension from trading, with the last trading day being August 22, 2025, and delisting effective from August 25, 2025 [1][2] - The suspension was due to the company's failure to meet the Hong Kong Stock Exchange's resumption guidelines, as its shares had not resumed trading by July 28, 2025 [1][2] - The company has no intention to appeal the delisting decision made by the listing committee [1] Financial and Legal Issues - Evergrande's shares were suspended from trading since January 29, 2024, and prior to suspension, the share price was only HKD 0.163, with a market capitalization of approximately HKD 2.2 billion [2] - The company has faced ongoing debt issues since 2021, leading to a series of legal and regulatory challenges, including a forced liquidation order issued by the Hong Kong High Court in January 2024 [3][4] - The China Securities Regulatory Commission (CSRC) imposed penalties on Evergrande Real Estate Group for fraudulent bond issuance and information disclosure violations, resulting in fines totaling CNY 4.175 billion and a lifetime ban for its chairman Xu Jiayin from the securities market [4] Liquidation Progress - As of July 31, 2025, the liquidator reported that the total asset value of the group was approximately HKD 27 billion, with liquid cash of about HKD 2 billion [6][7] - The liquidator has received 187 claims from creditors, totaling approximately HKD 350 billion (USD 45 billion), while the company's last reported liabilities were around USD 275 billion [6][7] - The liquidator will continue to pursue legal actions to recover potential high-value assets and ensure the interests of creditors are protected [7]