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CHINA EVERGRANDE GROUP

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Delayed Hong Kong Stock Exchange  -  04:08 2022-03-18 am EDT
1.650 HKD   +8.55%
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China Evergrande faces winding-up lawsuit in Hong Kong

06/27/2022 | 02:02am EDT
FILE PHOTO: Headquarters of China Evergrande Group in Shenzhen

HONG KONG (Reuters) - A winding-up petition has been filed against embattled property developer China Evergrande Group at the Hong Kong high court, the judiciary's website showed.

The petition was made by "Top Shine Global Limited of Intershore Consult (Samoa) Limited", according to the website, and a hearing will be held on Aug. 31.

Evergrande did not immediately respond to a request for comment on the petition.

Reeling under more than $300 billion in liabilities, Evergrande's offshore debt is deemed to be in default after missing payment obligations late last year.

The firm is expected to announce a preliminary restructuring plan by the end of July.

(Reporting by Clare Jim; Editing by Muralikumar Anantharaman)


© Reuters 2022
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 488 B 62 193 M 62 193 M
Net income 2021 12 117 M 1 544 M 1 544 M
Net Debt 2021 460 B 58 578 M 58 578 M
P/E ratio 2021 1,81x
Yield 2021 4,71%
Capitalization 21 787 M 2 775 M 2 775 M
EV / Sales 2021 0,99x
EV / Sales 2022 0,95x
Nbr of Employees 163 119
Free-Float 29,5%
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 5
Last Close Price 1,65 HKD
Average target price 2,11 HKD
Spread / Average Target 27,9%
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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