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    3333   KYG2119W1069

CHINA EVERGRANDE GROUP

(3333)
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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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Shenzhen govt-owned firm steps in to complete four Evergrande projects

09/27/2022 | 05:12am EST
Partially removed company logo of China Evergrande Group in Shenzhen

HONG KONG (Reuters) - Embattled China Evergrande Group is working with a real estate investment and operations firm owned by the Shenzhen government to complete four property developments in the tech hub, the two companies said.

They said in a joint statement posted on the Wechat account of Evergrande's Shenzhen unit on Monday that as instructed by the authorities, Evergrande has introduced Shenzhen Longgang Ancheng Investment Operation Co Ltd into four developments situated in the Longgang district.

The state-owned firm will help with the project construction to ensure delivery of homes to buyers, they said.

Evergrande chairman Hui Ka Yan said earlier this month construction of all projects across the country will resume by the end of September, updating an earlier timeline that was not met.

Struggling with more than $300 billion of liabilities, Evergrande was forced to suspend construction at many projects late last year. As of mid-September, 38 of 706 projects in China had not resumed construction, the company said this month.

(Reporting by Clare Jim in Hong Kong and Liangping Gao in Beijing; Editing by Muralikumar Anantharaman)


ę Reuters 2022
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Analyst Recommendations on CHINA EVERGRANDE GROUP
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Financials
Sales 2021 474 B 60 896 M 60 896 M
Net income 2021 12 038 M 1 547 M 1 547 M
Net Debt 2021 485 B 62 294 M 62 294 M
P/E ratio 2021 1,82x
Yield 2021 7,06%
Capitalization 21 787 M 2 799 M 2 799 M
EV / Sales 2021 1,07x
EV / Sales 2022 1,03x
Nbr of Employees 163 119
Free-Float 29,5%
Chart CHINA EVERGRANDE GROUP
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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
Cheng Qian Chief Financial Officer, Executive Director & VP
Ka Yan Hui Chairman
Shing Yim Chau Independent Non-Executive Director
Qi He Independent Non-Executive Director
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