Overview

• Trading had been suspended since Jan. 29, 2024 after a Hong Kong court ordered liquidation when the developer failed to secure a debt restructuring, leading to the Aug. 25 removal.
• Evergrande’s market value fell from a peak of about US$51 billion to roughly US$282 million, with its last trade at HK$0.163 versus a high of HK$31.39.
• Liquidators report about US$255 million recovered from offshore asset sales against roughly US$45 billion in creditor claims, pointing to very low expected recoveries.
• Founder Hui Ka Yan received a lifetime market ban and a 47 million yuan fine over inflated results and disclosure violations, with reports citing about US$78 billion in overstated revenue.
• At its height the company had around 1,300 projects across 280 cities, and analysts say the delisting underscores the sector’s deep slump with more developer liquidations possible.