On April 11, the second session of the seventh Shenzhen Municipal People’s Congress opened. According to the report of Shenzhen municipal government, according to the principles of marketization and legalization, the debt risks of real estate enterprises such as Evergrande group are handled safely.
On April 11, Evergrande’s concept sector rose abnormally, Shenzhen Grandland Group Co.Ltd(002482) rose by the limit, Guangdong Topstrong Living Innovation And Integration Co.Ltd(300749) rose by more than 5%, and Shenzhen Wenke Landscape Co.Ltd(002775) , Guangdong Piano Customized Furniture Co.Ltd(002853) , Beijing Jiayu Door Window And Curtain Wall Joint-Stock Co.Ltd(300117) , Guangzhou Holike Creative Home Co.Ltd(603898) followed.
Previously, China Evergrande, Evergrande property and Evergrande automobile announced to stop trading on the Hong Kong Stock Exchange on March 21, 2022. On March 22, the three companies issued insider announcements respectively and collectively announced the postponement of the annual report, and the trading will continue to be suspended. Xiao en, executive director and CEO of China Evergrande group, said that he would actively promote the resumption of trading and complete the disclosure of the annual report as soon as possible.
In addition, Evergrande property announced in the Hong Kong Stock Exchange on March 22 that in the process of reviewing the 2021 financial report, it was found that it had about 13.4 billion yuan of deposits, and the pledge margin provided for third parties had been enforced by relevant banks.
On March 29, China Evergrande and Evergrande property disclosed in the Hong Kong stock exchange that the board of directors of the company established an independent investigation committee on the enforcement of the deposit of 13.4 billion yuan of Evergrande property, and said it would continue to suspend trading.
