Reported 2 days ago
China Evergrande Group, once a leading property developer with a peak valuation of $51 billion, faces delisting from the Hong Kong Stock Exchange after its stock value plummeted to just $282 million amidst a massive $300 billion debt. The company’s downfall exemplifies the risks of excessive debt and the ongoing crisis in China's property sector, which has struggled with liquidity issues and reduced demand. Despite efforts by authorities to revive the sector, the future appears bleak for creditors and homebuyers awaiting their investments.
Source: YAHOO