Group 1 - China Evergrande officially delisted from the Hong Kong Stock Exchange on August 25, ending its 16-year capital journey, with a debt burden of 2.4 trillion yuan impacting various stakeholders including investors, suppliers, and homebuyers [1] - 1.62 million unfinished properties affect 6 million homeowners, who face a 25% drop in property value while still repaying mortgages, leading to financial distress and loss of educational opportunities for their children [1] - Suppliers are severely impacted, with Evergrande owing over 900 billion yuan in construction payments, causing significant disruptions in the supply chain, including near bankruptcy for Nantong Sanjian and restructuring for Guotian Group due to bad debts [1] Group 2 - Investors have lost their investments, with retail investors holding 34% of shares seeing their stocks become worthless post-delisting, and state-owned shareholder Shenzhen Talent Housing Group losing a total investment of 25 billion yuan [1] - Evergrande's liquidatable assets are only 2 billion Hong Kong dollars, placing shareholders at the bottom of the repayment hierarchy [1] - The crisis highlights the dangers of high-leverage business models and exacerbates the "guarantee delivery of homes" issue, further eroding social trust [2]