evergrande
Hong Kong (AFP) - Le régulateur de Hong Kong va ouvrir une enquête sur le rôle de PwC dans les pratiques comptables du géant chinois de l'immobilier Evergrande, placé en liquidation judiciaire et accusé par la Chine d'une importante fraude. Basé à Foshan, dans le sud de la Chine, Evergrande a été le plus grand promoteur immobilier de Chine. Il a accumulé les dettes jusqu'à afficher un passif de plus de 300 milliards de dollars et est ainsi devenu emblématique de la crise immobilière qui sévit depuis des années dans la deuxième économie mondiale. Le mois dernier, l'entreprise a été accusée par ...
AFP (Français)
China's economy expanded by 5.3% in the first quarter compared to a year earlier, buoyed by government schemes to boost economic demand. The figure, up from 1.6% on the previous quarter, beat a Reuters analyst forecast of 4.6%. "Generally speaking, the national economy got off to a good start in the first quarter... laying a good foundation for... the whole year," said China's National Bureau of Statistics. The agency nonetheless added that economic stability is not yet solid. Since the Covid-19 pandemic, China has struggled with a slowdown in demand and a lengthy property crisis. In the last ...
Euronews (English)
The head of the highly indebted Chinese property group Evergrande is to be banned from trading shares for life, the company said late on Monday. Hui Ka Yan was also fined 47 million yuan (around $6.5 million) by the China Securities Regulatory Commission (CSRC) for various financial offences. In addition, the stock market regulator has fined the company 4.2 billion yuan and penalized other executives. Evergrande was accused of artificially increasing its turnover by more than 560 billion yuan in 2019 and 2020. The property developer is said to have issued bonds based on this false information....
DPA Breaking News
Der Chef des hoch verschuldeten chinesischen Immobilienkonzerns Evergrande soll lebenslang vom Aktienhandel ausgeschlossen werden. Wie das Unternehmen am Montag mitteilte, wurde Hui Ka Yan zudem von der chinesischen Börsenaufsicht wegen verschiedener Finanzdelikte mit einer Geldstrafe von 47 Millionen Yuan (rund sechs Millionen Euro) belegt. Überdies habe die Börsenaufsicht das Unternehmen mit einer Geldstrafe von 4,2 Milliarden Yuan belegt und weitere Führungskräfte bestraft. Evergrande sei unter anderem vorgeworfen worden, seinen Umsatz in den Jahren 2019 und 2020 künstlich um mehr als 560 M...
DPA (German)
Chinese trusts and wealth management companies have been struggling under the weight of tightening regulations and China's persistent property crisis - two phenomena that have hit the country's 'shadow banking' industry particularly hard and could have knock-on effects for Europe. Shadow banks, such as Sichuan Trust and Zhongzhi, are non-bank financial institutions, such as credit guarantee companies, hedge funds and asset management companies, that provide some of the key services of banks despite not being traditional lenders. It's a significant sector: according to the International Monetar...
Euronews (English)
New York (AFP) - Embattled Chinese property giant Evergrande Group filed for bankruptcy protection in the United States on Thursday, court documents showed, a measure that protects its US assets while it attempts to restructure. Evergrande, once China's top property developer, was found in 2021 to be struggling with more than $300 billion in liabilities, as it came under intense pressure after officials tightened scrutiny of the real estate industry. The company's woes have come to symbolize the growing crisis in China's sprawling property sector, which accounts for a huge portion of the world...
AFP
In hisDaily Market Notes report to investors, while commenting on Evergrande, Louis Navellier wrote: Q3 2021 hedge fund letters, conferences and more Tenuous StartAs the new year begins, the screen opened up green across the board, as expected, and then pulled back to slightly red before heading north again. As optimistic investors at large want to be, and are traditionally as each year begins, this is no “normal” year. Chinese ChillThe news out of China than Evergrande, the largest property developer in the world who has defaulted on its debt, has stopped trading its stock in Hong Kong with n...
ValueWalk
China Evergrande Group (HKG:3333) suspended the trading of its shares in the Hong Kong Stock Exchange as the affected real estate developer is preparing a restructuring plan. In a statement, Evergrande did not reveal the reason behind the move. Q3 2021 hedge fund letters, conferences and more Evergrande DebacleAs reported by CNN Business, the trading halt was pending an “announcement containing inside information,” while the eyes of investors are on how the company will be able to repay its debt. Total liabilities of Evergrande top $300 billion, and its bankruptcy could ensue a property market...
ValueWalk
Credit rating agency Fitch Ratings has downgraded fallen real estate developer China Evergrande Group (HKG:3333) to “restricted default” after it failed to meet its financial obligations. Analysts have been warning that the default could ignite a property market crisis in the Asian giant. Q3 2021 hedge fund letters, conferences and more Evergrande's DefaultAs reported by CNN, Fitch Ratings has downgraded Evergrande has defaulted on its debt as the company’s month-long due payments went unannounced once the grace period expired Monday. According to the news outlet, “Fitch said the downgrade ref...
ValueWalk
China Evergrande Group (HKG:3333) is on the brink of formal default as the 30-day grace period has gone unpaid. The real estate giant was expected to make some coupon payments to offshore bondholders, and now it is set to become the biggest defaulter in China. Q3 2021 hedge fund letters, conferences and more Evergrande CrisisAs informed by Reuters, should Evergrande not make interest payments of $82.5 million due last month it will face cross-default on the company’s international bonds worth $19 billion. The developer said Monday it had created a risk-management committee to help mitigate and...
ValueWalk
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