Reported about 1 year ago
The former CEO of China Evergrande, Xia Haijun, who Chinese regulators recently labeled as 'uncontactable', has sold his Hong Kong home at a loss of HK$74 million ($9.48 million) from the purchase price. The 263 sq m duplex flat was sold for HK$82 million, 49% lower than the initial asking price and only HK$4 million more than the purchase price. Xia, who stepped down in 2022 amid controversies, bought the flat in 2019 but has not commented on the recent probe by the China securities regulator. As Evergrande faces financial turmoil, Xia had reportedly left for Canada. The news comes alongside similar financial challenges faced by Evergrande's chairman.
Source: YAHOO