Financial Center/Reported by Li Mingrong
China Evergrande has been in financial crisis since last year, and has continued to withdraw from real estate projects. On Monday (21st) morning, three shares of Evergrande were suspended from trading on the Hong Kong Stock Exchange. Xie Jinhe, chairman of Caixin Media, believes that Hong Kong-listed Evergrande stocks are suspended from trading. Such a phenomenon may be preparing to negotiate with international creditors to restructure debt. Xie Jinhe said that the stock price of Evergrande Real Estate dropped from 32.5 to 1.16 Hong Kong dollars, and Evergrande Properties dropped from 19.74 to 1.71 Hong Kong dollars. The listed debt is 1.96 trillion Hong Kong dollars. Evergrande’s wealth management products and US dollar debt may be worth trillions of yuan. This astronomical debt has fallen to the remaining residual value of the stock price. Xu Jiayin has worked hard all his life, and in the end, he may only have to throw the “huge debt to the country”. “.
Xie Jinhe pointed out that if this is only a single phenomenon of Evergrande, it does not matter. The worst thing is that China’s top 60 real estate companies are facing huge debts, but their stock prices have plummeted. These include Xu Rongmao’s Shimao Real Estate and Li Silian’s R&F. Real estate, Sun Hongbin’s China Sunac, Sunac’s share price fell from 49.55 to 2.95 Hong Kong dollars, the debt was 1.1 trillion Hong Kong dollars, and the stock market value was 10.3 billion Hong Kong dollars. The shares of China Fortune Land Development and Greenland Group, which are listed on the A-share market, have fallen by more than 90%. Now even Country Garden and Vanke Group have been affected.
In the face of the huge debts of real estate companies, President Xi Jinping demanded that the banks must clear the debts, and the central government also repeatedly asked Xu Jiayin to deal with the assets to repay the debts, but there were not many assets left to sell. In the end, there was only one way for the real estate enterprises to go: throw the huge debts away. to the country! In the end, Xie Jinhe said that in the past 30 years, the scale of China’s economy has grown with the appreciation of real estate, and the Chinese economy has been galloping in the real estate market. After the stock prices of new economic enterprises such as Tencent, Alibaba, and Meituan plummeted, the next step in China is the debt restructuring of real estate companies. Evergrande fired the first shot today, and the follow-up effects are worthy of attention!
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