China Evergrande Warns of Default Risk & Rising Litigation Cases
Troubled China Evergrande Group warned that “it has risks of default and cases of litigation outside its normal business” in its 1H2021 earnings release. The property developer acknowledged that negative reports adversely affected its liquidity, which led...
Evergrande’s EV Unit Warns of Production Delays Unless It Secures Capital
China Evergrande cannot seem to catch a break as the flow of bad news continues for the highly indebted group. In the latest, Evergrande’s Hong Kong-listed EV unit China Evergrande New Energy Vehicle Unit Ltd (NEV) warned of production delays should the company...
Evergrande Warns of 29-39% Drop in Profits
China Evergrande Group issued a profit warning via an exchange filing of a drop of 29-39% in profits for 1H2021 at a time when the group is under pressure for its mounting liabilities. The group expects its net profits to come in at ~RMB 9-10.5bn ($1.41-1.62bn) for...
