News for China Evergrande Group (EGRNY)

Trading in Evergrande shares remains halted.

Sunac China became the first troubled Chinese property developer to successfully reduce its onshore debt earlier this year, while CIFI Holdings has reached an agreement with a key group of bondholders on an offshore debt restructuring plan. Shimao said on Monday 98.75% of its creditors, representing claims totalling about $11.04 billion, had backed its plan announced last March to restructure all of its debt, amounting to around $11.7 billion in offshore notes, bonds and other credit facilities. The embattled developer had been negotiating with creditors to refine the term sheet after a group of major bondholders said last year they

China’s distressed developers are increasingly asking local courts to drive their restructuring efforts, as weak home sales continue to weaken their ability to make headway or deliver on private debt workout plans.

A key unit of China Evergrande Group was ordered by a Hong Kong court to liquidate, the latest legal win for liquidators trying to access assets of the world’s most indebted developer.

Shares of Chinas struggling Country Garden surged by 11% after a nine-month trading halt to prepare delayed financial statements. The developer aims to finalize offshore debt restructuring terms with creditors by next month. The stock had been suspended since April following a significant default, further impacting the crucial property sector.

Country Garden anticipates reaching a deal with creditors next month on defaulted debt repayment, its lawyer told a Hong Kong court.

BYD Co.’s reliance on financing from working capital has masked surging debt levels at the Chinese electric vehicle giant, according to calculations from Hong Kong-…

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HONG KONG (Reuters) -Country Garden has proposed a deal to its offshore creditors that will cut its debt by $11.6 billion, paving the way for the property developer to seek more time from the high court in Hong Kong to implement a restructuring plan. The indebted developer has reached an understanding with a lender group made up of seven banks ahead of the company's liquidation hearing on Jan. 20 in Hong Kong, bringing it closer towards a restructuring of its offshore debt. Once China's biggest property developer, Country Garden defaulted on $11 billion in offshore bonds in late 2023, deepening a debt crisis in the sector that had already experienced defaults by many developers, including China Evergrande Group.

One of China’s leading developers is now on authorities’ radar for default risk. A major Hong Kong builder is asking lenders to extend loans. Another industry peer is selling an iconic but largely empty mall in Beijing.

Are Chinese stocks a good investment? What about ETFs? Read about this risks involved + expected returns.

The heir-apparent of Hong Kong billionaire Vincent Lo’s property flagship says the company will weather storm thanks to robust Shanghai portfolio and early deleveraging.

China Evergrande New Energy Vehicle Group Ltd., the electric vehicle unit of defaulted developer China Evergrande Group, said liquidators have ended talks with a po…

Evergrande EV unit's liquidators still in talks with potential stake buyers

Exclusive-China Minsheng Bank cut Beijing staff pay by up to 50% in austerity drive

Chinese developers Kaisa Group Holdings Ltd. and Times China Holdings Ltd. will square off with creditors Monday, seeking to avoid liquidation before a Hong Kong court where decisions against the sector are starting to pile up.

A Hong Kong court handed Chinese property giant Country Garden Holdings a temporary reprieve from possible bankruptcy Monday, giving it more time to come up with a plan to restructure liabilities of $187 billion.

PricewaterhouseCoopers (PwC) is considering slashing up to half its financial services auditing staff in China, two people with knowledge of the matter

The move follows Chinese regulators' scrutiny of PwC this year for its role as the auditor of troubled property giant China Evergrande Group, which, in turn, triggered the exit of some clients