One day after the detention of Evergrande's wealth members in the Chinese public security organs, the stock price of China Evergrande Group fell 25%in early trading on Monday (September 18).
According to Reuters, Evergrande's stock price fell to HK $ 0.465 (about S $ 0.081) on Monday, the lowest in two weeks.
The Nanshan Public Security of Shenzhen China was announced on the WeChat public account on Saturday (September 16). The public security organs have adoptedCriminal compulsory measures.Police notified the number, crime or detention date for detention.
The Shanghai Securities Journal quoted the relevant persons reported that Du is Du Liang, the legal representative and general manager of Evergrande's wealth.Reuters reported that Du Liang was unable to confirm whether Du Liang was listed.
Evergrande announced in August that as of June 30, the loss of 33 billion yuan (RMB, the same below, about S $ 6.176 billion) in the first half of this year, the loss of 66.4 billion yuan in the same period last year.
Earlier this month, Evergrande said that the decision of the offshore debt reorganization has been postponed from September to the next month, so that the debt holder has more time to consider its reorganization plan.
Chinese real estate agents have been in crisis in the past two years, of which Evergrande is the world's most liabilities real estate developers.Since the end of 2021, a series of defaults have occurred in the Chinese real estate industry, disrupting the global market and causing concerns about the spread of crisis.
In March 2022, after Evergrande failed to announce its financial results in 2021, the Hong Kong Exchange suspended its stock transaction.Evergrande's stock was suspended for 17 months and officially resumed trading on the Hong Kong Stock Exchange on August 28.
