Xu Jiayin, chairman of Evergrande Group, recently promised in person at the Evergrande Wealth Conference: "A penny cannot be less" and "I can have nothing, but the investment of Evergrande Wealth cannot be nothing."
However, as Evergrande will suspend the payment of interest on bank loans due today (20th), some foreign media have reported that some Chinese financial institutions have prepared for the possible bankruptcy of Evergrande.
The shares of Evergrande’s stocks in the market opened today with weaker performance in the early part of the market. Evergrande (3333) reported at 2.26 yuan, down 11%; Evergrande Property (6666) reported 4.41 yuan, down 4.13%; Evergrande Motors (0708) It bucked the market and rose 2%.
Evergrande fell into financial difficulties, and Chairman Xu Jiayin became a target of public criticism.
(China News Service)
A foreign news agency quoted Evergrande’s management as saying that the bank will definitely approve the extension of the payment. If the bank suspends cooperation with the group, Evergrande will die immediately.
Evergrande announced its financial report for the first half of 2021 earlier. The total debt is close to RMB 2 trillion. Its debt and capital chain problems can be said to affect the whole body. Chinese bank stocks and insurance stocks have also fallen sharply.
Will the once prominent Evergrande Group go bankrupt?
How to solve the debt problem?
Is there any way for Evergrande to go?
Will the state finally intervene?
Now that the storm is precarious, why don't you make a move?
For detailed analysis, please read the 283th "Hong Kong 01" Electronic Weekly Newsletter (September 20, 2021) "
Hengda is in multiple crises and Xu Jiayin's final regret
".
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