The indebted Chinese real estate giant Evergrande announced losses of 33,012 million yuan, which means about 4,528 million dollars or 4,198 million euros in real exchange, in the first half of the year, 50.4% less than in the same period of 2022. , when it lost 66,400 million yuan (9,136 million dollars or 8,460 million euros).
The company, which in 2020 had earned 8,076 million yuan (1,126 million dollars or 1,001 million euros), also indicated that at the end of June 2023 its total liabilities reached some 2.38 trillion yuan (32,7598 million dollars of 303,752 Dollars). million euros), 2.02% lower than the previous year, but around 25% more than at the end of 2020.
Of this amount, 624,765 million yuan (85,701 million dollars or 79,463 million euros) correspond to loans, which represents an increase from the end of 2022 of 2.02%. The figures also reflect a 5.13% decrease in the value of the company’s total assets compared to the end of the year in 2022, standing at 1.74 trillion yuan (239,231 million dollars or 221,817 million euros).
In the first half of 2023, Evergrande, immersed in a crisis in the Chinese real estate sector that since the end of 2021 has witnessed a series of debt defaults, invoiced 128,067 million yuan (32,084 million dollars or 28,529 million euros), representing a 43% increase over the same time period in 2022.
Looking to resume listing
The Chinese real estate developer Evergrande, the most indebted in the world, requested last Monday the resumption of the listing of its shares on the Hong Kong stock exchange. In a statement sent to the stock market on Friday night, Evergrande affirmed that it had met all the requirements to lift the suspension of the listing of its shares, which had been in effect since March 21, 2022.
Evergrande assured in the document that it has “sufficient commercial operations.” The company noted that it is “prioritizing the stabilization of operations and risk resolution,” and that it is “working with the utmost effort to ensure the delivery of the properties.”
The real estate company reported that, with the support of local governments, upstream and downstream companies, and property owners, the group resumed construction on 732 projects to ensure delivery of the properties. In 2022, Evergrande delivered a total of 301,000 units.
