US EditionChinese property developer Evergrande posts $81 billion loss over the past two years
- Chinese property giant Evergrande reported combined losses of 581.9 billion yuan in 2021 and 2022, reflecting the impact of the property market crisis in China.
- The losses were attributed to factors such as the falling value of properties and assets, as well as higher borrowing costs.
- Evergrande's massive debts have raised concerns about the stability of China's property sector, with defaults and unfinished building projects affecting other developers in the country.
40 Articles
40 Articles
Evergrande posts losses of $81 billion over two years as it reports long-delayed results
By Laura He, CNN Hong Kong (CNN) — Evergrande Group, the world’s most indebted property developer, has posted long-delayed financial results as a key part of its debt restructuring, which is shaping up to be one of the largest in Chinese corporate history. The company reported losses attributable to shareholders of 476 billion yuan ($66 billion) and 106 billion yuan ($15 billion) for 2021 and 2022, respectively, according to a Monday stock excha…
China Evergrande reports its debt rose to $340 billion in 2022. It plans meetings with creditors
BEIJING (AP) -- China Evergrande, the property developer whose woes helped bring about a slump in the country's vitally important real estate market, has reported its debts rose further to about $340 billion by the end of last year.
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