Topics

Posted 9/25/2023, 8:18:28 AM

Evergrande Shares Plunge 25% as Debt Crisis Deepens, Other Chinese Property Stocks Also Fall

Evergrande shares tumbled 25% as company delays debt restructuring meeting
Other major Chinese property stocks also fell, with Hang Seng Mainland Properties index down over 4%
Evergrande shares have plunged up to 87% since resuming trade in August, turning into a penny stock
Evergrande says sales have not met expectations, needs to reassess restructuring terms
In August, Evergrande and affiliates filed for Chapter 15 bankruptcy protection in US court

cnbc.com

Relevant topic timeline:

8/28/2023

Evergrande shares plunge as much as 87% as trading resumes after 17 months

Shares of China Evergrande Group, the world's most indebted property developer, plunged 87% on its first day of trading since March 2022, as the company posted a loss of $5.38 billion for the first half of 2023 amidst its ongoing financial struggles.

8/28/2023

China's Evergrande says losses narrowed by 50% in the first half of 2023 as shares plunge

Evergrande Group, the highly indebted Chinese real estate developer, has reported a narrower net loss for the first half of the year thanks to a rise in revenue driven by the property market's short-term boom, despite the company facing financial struggles and applying for bankruptcy in the US.

8/28/2023

Markets Rally On Powell Comments, China Boosted By Duty Cut

Shares in Chinese property giant Evergrande collapsed as they resumed trading in Hong Kong after 17 months, while Asian markets advanced following Federal Reserve chief Jerome Powell's cautious approach to rate hikes and China's decision to cut the duty on trades.

9/6/2023

Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default

Shares of Chinese property developer Evergrande surged as much as 82% on Wednesday, leading gains on the Hang Seng Index, following reports of successful bond coupon payments by Country Garden, signaling a potential recovery in the country's property sector.

9/18/2023

Evergrande Shares Plunge 25% as Staff Detained Amid Deepening Real Estate Crisis

Shares of China Evergrande Group fell 25% after police detained staff at its wealth management unit, adding to the embattled developer's troubles amidst China's real estate crisis.

9/18/2023

Evergrande Stock Plunges 25% as Police Detain Staff Amid Debt Crisis Engulfing China's Biggest Property Developer

Shares in crisis-hit China Evergrande have plunged by up to a quarter after the apparent detention of staff by police, reigniting concerns about the state of the company and China's wider property sector.

9/25/2023

Evergrande Restructuring Hits Major Snag as Probe into Main Unit Stalls Debt Swap

Evergrande, the embattled Chinese developer, is facing trouble with its debt restructuring plan due to a regulatory probe into its subsidiary, Hengda Real Estate Group, which could lead to liquidation if a new deal with creditors cannot be reached.

9/25/2023

Evergrande Debt Crisis Sparks Fears for China's Economy

Distressed Chinese property developer Evergrande Group's debt fears weigh on Chinese stocks, raising concerns about the world's second-largest economy.

9/26/2023

Evergrande Misses Another Bond Payment, Deepening Fears Over China's Real Estate Crisis

Shares in Evergrande closed down 7% on Tuesday after the embattled property developer missed another bond payment, raising concerns about the company's ability to restructure its debt and the potential for a disorderly collapse that could damage China's wider economy.

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/3/2023

Evergrande Stock Soars 40% on Resumed Trading Despite Ongoing Debt Crisis and Investigation of Founder

Shares of Chinese real estate giant Evergrande have surged after trading in the company resumed in Hong Kong following a temporary suspension, amidst investigations into its billionaire founder and a default on its debts, triggering a property crisis in China.

Topics

Posted 9/25/2023, 8:18:28 AM

Evergrande Shares Plunge 25% as Debt Crisis Deepens, Other Chinese Property Stocks Also Fall

Evergrande shares tumbled 25% as company delays debt restructuring meeting
Other major Chinese property stocks also fell, with Hang Seng Mainland Properties index down over 4%
Evergrande shares have plunged up to 87% since resuming trade in August, turning into a penny stock
Evergrande says sales have not met expectations, needs to reassess restructuring terms
In August, Evergrande and affiliates filed for Chapter 15 bankruptcy protection in US court

cnbc.com

Relevant topic timeline:

8/28/2023

Evergrande shares plunge as much as 87% as trading resumes after 17 months

8/28/2023

China's Evergrande says losses narrowed by 50% in the first half of 2023 as shares plunge

8/28/2023

Markets Rally On Powell Comments, China Boosted By Duty Cut

9/6/2023

Evergrande soars 70% leading Chinese property stocks higher after Country Garden avoids default

9/18/2023

Evergrande Shares Plunge 25% as Staff Detained Amid Deepening Real Estate Crisis

Shares of China Evergrande Group fell 25% after police detained staff at its wealth management unit, adding to the embattled developer's troubles amidst China's real estate crisis.

9/18/2023

Evergrande Stock Plunges 25% as Police Detain Staff Amid Debt Crisis Engulfing China's Biggest Property Developer

9/25/2023

Evergrande Restructuring Hits Major Snag as Probe into Main Unit Stalls Debt Swap

9/25/2023

Evergrande Debt Crisis Sparks Fears for China's Economy

Distressed Chinese property developer Evergrande Group's debt fears weigh on Chinese stocks, raising concerns about the world's second-largest economy.

9/26/2023

Evergrande Misses Another Bond Payment, Deepening Fears Over China's Real Estate Crisis

9/28/2023

Evergrande Shares Suspended as Chairman Reportedly Placed Under Surveillance Amid Ongoing Debt Crisis

Shares of China Evergrande Group were suspended on Thursday by Hong Kong's exchange, as the chairman of the embattled real estate developer is reportedly under surveillance.

10/3/2023

Evergrande Stock Soars 40% on Resumed Trading Despite Ongoing Debt Crisis and Investigation of Founder