China Evergrande


Evergrande’s EV firm jumps 60% on $3.4 bn fundraising plan

Evergrande’s EV firm jumps 60% on $3.4 bn fundraising plan

(ATF) The Hong Kong-listed electric vehicle (EV) firm set up by debt-laden property giant China Evergrande soared more than 60% during the day on Monday after it said it would bring in six Hong Kong and mainland tycoons to raise HK$26 billion (US$3.4 billion) to fund technology research and repay …

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Evergrande Property soars on report of aggressive expansion plan

Evergrande Property soars on report of aggressive expansion plan

(ATF) Shares of China Evergrande Group’s property management unit on the Hong Kong Stock Exchange soared by a record of 30% on Monday after local media reported that the company aims to more than double its area under management and increase its net profit by 50% this year.Evergrande Property Services …

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China state planner orders probes into NEV projects

China state planner orders probes into NEV projects

(ATF) While a surge in Tesla stocks has driven extraordinary volumes in US-listed shares of Chinese electric vehicle makers Nio, XPeng and Li Auto, China’s state planner has told local governments to investigate new energy vehicle (NEV) projects linked to property developers Evergrande Group and Shenzhen Baoneng.The National Development and …

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Debt-laden China Evergrande scraps Shenzhen listing plan

Debt-laden China Evergrande ends Shenzhen listing plan

(ATF) Debt-laden China Evergrande Group said it has decided to terminate a reorganisation plan with Shenzhen Special Economic Zone Real Estate & Properties Group Co Ltd, ending a long-awaited backdoor listing plan in Shenzhen.Market concern has mounted in recent weeks that Evergrande – whose borrowings totalled 835.5 billion yuan ($123.93 …

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Higher funding costs plague China Evergrande's bid to shed debt

Higher funding costs plague China Evergrande's bid to shed debt

China Evergrande Group has taken to seeking loans at above-average interest rates in the shadow banking market, amid concern over its cash flow – which hints at an increasingly fraught effort to reduce the property sector's biggest debt.The developer, which owed a whopping 835.5 billion yuan – $125 billion – …

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