Evergrande will sell its stake in incomplete development near shanghai for 3.66 billion yuan ($575 million) is scrambling to find it cash to pay off Its huge debts, and debt-Laden Chinese developer Wed said.
troubled real Real estate giant is drowning in 300 billion dollars of Liabilities, have struggled to make payments to bondholders and investors after the crackdown by Beijing suddenly turned off Liquidity taps.
Wednesday developer She said she will sell the Crystal City project, which is a large commercial area in Hangzhou, East city outside of Shanghai for 3.66 billion yuan. part of The proceeds from the sale will go towards paying construction fees of The company said 920.7 million yuan in Submission to the Hong Kong Stock Exchange.
Residual cash will be used asgeneral Man power of The groupEvergrande said.
‘The group liquidity issue negative development And the progress of The group projects” added.
Tuesday night, the company’s Evergrande New Electric Vehicle unit also confirmed in Separate deposit it plans to start Mass production of it’s a first Electrician car on June 22.
On Sunday, she said she would start Receipt of orders for The car open sales centers in 15 major Chinese cities, including in Tianjin, Shanghai and Guangzhou.
However, the announcement He was unable to prevent loneliness share price drown out approximately 10% on Wednesday after resume trading.
The auto The arm has stopped trading on March 21 along with Evergrande Group and Evergrande Property Services.
It came in the name of developer He said he was looking at how Lenders have demanded deposits of more From 13.4 billion yuan for it’s a property subsidiary services. but the board of electricity vehicle The unit said this was “primarily related to a sister company,” allowing it to shares to restart trading.
Evergrande said last The week you will not be able to publish the audited 2021 review results at the end of March – as a Hong Kong menu rules Require – blame the delay on COVID-19 pandemic. She has said many times that she will finish Projects and deliver them to buyers in Desperate attempt to save its debts, creditors asked give company time.
