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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
  Report
Delayed Hong Kong Stock Exchange  -  04:08 2022-03-18 am EDT
1.650 HKD   +8.55%
09/27Shenzhen govt-owned firm steps in to complete four Evergrande projects
RE
09/25Tender to sell Evergrande's Hong Kong headquarters to close on Oct 31
RE
09/23China bank sector non-performing loan ratio at 1.80% at end August - report
RE
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China Evergrande Group to Give Up Land Use Rights of Soccer Stadium for Over $800 Million

08/04/2022 | 04:58pm EDT

By P.R. Venkat


China Evergrande Group will give up its land use rights of a football stadium in China for 5.52 billion yuan ($817.89 million), as the embattled property developer looks for ways to pare debt.

The real estate conglomerate will return the land to its owner, China's Guangzhou Municipal Planning and Natural Resources Bureau, China Evergrande said late Thursday.

Evergrande said it will incur a CNY1.255 billion loss from the deal.

The conglomerate has struggled to meet its debt obligations since the summer, and has missed final deadlines for interest payments on several U.S. dollar bonds. All three major credit-rating companies have declared it to be in default. Evergrande had more than $300 billion in liabilities as of June 2021.

"The group's liquidity issue has adversely affected the development of and construction on the land," Evergrande said.


Write to P.R. Venkat at venkat.pr@wsj.com


(END) Dow Jones Newswires

08-04-22 1858ET

Stocks mentioned in the article
ChangeLast1st jan.
CHINA EVERGRANDE GROUP 8.55% 1.65 Delayed Quote.3.77%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) -0.01% 7.06925 Delayed Quote.11.23%
All news about CHINA EVERGRANDE GROUP
09/27Shenzhen govt-owned firm steps in to complete four Evergrande projects
RE
09/25Tender to sell Evergrande's Hong Kong headquarters to close on Oct 31
RE
09/23China bank sector non-performing loan ratio at 1.80% at end August - report
RE
09/22Holders of China Evergrande Onshore Bond Grant Six-Month Payment Extension
DJ
09/21China Evergrande mulls asset transfer to unit
RE
09/19Kaisa offshore creditors offer $2 bln to take over stalled projects - sources
RE
09/19Exclusive-Kaisa offshore creditors offer $2 billion to take over stalled projects - sou..
RE
09/19China Evergrande Group(SEHK:3333) dropped from S&P Global BM..
CI
09/16Evergrande NEV Begins Mass Production of First Electric Car
MT
09/16China's Evergrande starts mass production of first EV model
RE
More news
Analyst Recommendations on CHINA EVERGRANDE GROUP
More recommendations
Financials
Sales 2021 474 B 60 385 M 60 385 M
Net income 2021 12 038 M 1 534 M 1 534 M
Net Debt 2021 485 B 61 771 M 61 771 M
P/E ratio 2021 1,82x
Yield 2021 7,06%
Capitalization 21 787 M 2 776 M 2 776 M
EV / Sales 2021 1,07x
EV / Sales 2022 1,02x
Nbr of Employees 163 119
Free-Float 29,5%
Chart CHINA EVERGRANDE GROUP
Duration : Period :
China Evergrande Group Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 1,65 HKD
Average target price 2,10 HKD
Spread / Average Target 27,4%
EPS Revisions
Managers and Directors
Shawn Siu Chief Executive Officer & Executive Director
Shou Ming Shi President
Cheng Qian Chief Financial Officer, Executive Director & VP
Ka Yan Hui Chairman
Dong Feng Chen Head-Information
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1st jan.Capi. (M$)
CHINA EVERGRANDE GROUP3.77%2 776
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VINHOMES-34.39%9 814
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DEUTSCHE WOHNEN SE-47.94%7 533