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China Evergrande Group (EGRNY)

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3.8250+0.0250 (+0.66%)
At close: 03:26PM EDT
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  • Reuters

    China Evergrande to sell Crystal City Project for $575 million

    The firm is selling the land-use and building ownership rights for the project, which is under construction, to Zhejiang Zhejian Real Estate Group and Zhejiang Construction Engineering Group, Evergrande said in a filing. Saddled with over $300 billion in liabilities, Evergrande has been struggling to repay suppliers, creditors and complete projects. In a separate filing late on Tuesday, Evergrande said it had set up an independent committee to investigate how banks seized 13.4 billion yuan in deposits of its property services arm, Evergrande Property Services Group, that had been pledged as security for third party guarantees.

  • Reuters

    Evergrande electric vehicle arm to start taking car orders 'imminently'

    China Evergrande New Energy Vehicle Group said it will start accepting orders for its inaugural electric car, the Hengchi 5 sport utility vehicle, "imminently" and open sales centres in 15 major cities across the country. Liu Yongzhuo, president of the electric vehicle (EV) arm of the world's most indebted property developer China Evergrande Group, made the comment at an online meeting attended by nearly 200 global parts suppliers on Sunday, according to the firm's official Wechat account. Evergrande told investors in a call last week it was trying to rope in investors to help bolster the unit's finances - a goal it has been pursuing for months without much success.

  • The Guardian

    Evergrande delays publishing annual results over ‘drastic change’ in prospects

    Chinese property giant will reveal how it will restructure its $300bn debt by July, amid confusion about how banks seized $2bn from one its divisions