Overview

• The Hong Kong Stock Exchange removed China Evergrande Group from listing on August 25, 2025, ending a 16-year run after trading was halted in January 2024 under a liquidation order.
• A Hong Kong court appointed Alvarez & Marsal to liquidate the developer, and the firm has taken control of more than 100 entities valued at about $3.5 billion, with only roughly $255 million recovered against about $45 billion in Hong Kong creditor claims.
• Liquidators are pursuing legal claims targeting around $6 billion tied to former chairman Hui Ka Yan, his wife Ding Yu Mei, and ex-CEO Xia Haijun, with Hui detained in 2023 and fined $6.5 million.
• Court filings allege Xia concealed about $24 million in U.S. assets, including luxury homes and cars in California, with purchases in Irvine and Newport Beach detailed in documents.
• Hundreds of projects remain unfinished across more than 280 cities as China’s housing downturn deepens, with new-home prices down 3.2% in June and policymakers easing local rules to bolster demand.