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Posted on 08/25/2025 6:27:34 PM PDT by SeekAndFind
Chinese property giant Evergrande's shares were taken off the Hong Kong stock market on Monday after more than a decade and a half of trading.
It marks a grim milestone for what was once China's biggest real estate firm, with a stock market valuation of more than $50bn (£37.1bn). That was before its spectacular collapse under the weight of the huge debts that had powered its meteoric rise.
Experts say the delisting was both inevitable and final.
"Once delisted, there is no coming back," says Dan Wang, China director at political risk consultancy Eurasia Group.
Evergrande is now best-known for its part in a crisis that has for years dragged on the world's second-largest economy.
Its founder and chairman Hui Ka Yan rose from humble beginnings in rural China to top the Forbes list of Asia's wealthiest people in 2017.
His fortune has since plummeted from an estimated $45bn in 2017 to less than a billion, his fall from grace as extraordinary as his company's.
In March 2024, Mr Hui was fined $6.5m and banned from China's capital market for life for his company overstating its revenue by $78bn.
Liquidators are also exploring whether they can recover cash for creditors from Mr Hui's personal property.
At the time of its collapse, Evergrande had some 1,300 projects under development in 280 cities across China.
The sprawling empire also included an electric carmaker and China's most successful football team, Guangzhou FC, which was kicked out of the football league earlier this year after failing to pay off enough of its debts.
(Excerpt) Read more at bbc.com ...
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I was reading quickly and read Dan Wangs name as Dang Wang and thought, wow that’s unfortunate.
I was reading quickly and read Dan Wangs name as Dang Wang and thought, wow that’s unfortunate.
Property prices are falling everywhere in China due to over building.
Many Chinese investors have never seen a market correction. It could be interesting to watch
State money invested and the investors took the money out.
Electronic money.....poof and it’s gone.
Like life....one moment you don’t need God. The next moment you’re begging on your knees.
All those babies will buy them.
Evergrandes stock market price was equal to Harvard’s endowment of about 50 billion dollars.
Stop giving them federal money.
Harvard has about 22000 total students with average tuition+ room and board of 86000 per year...about 2 bn a year...
If they make 11% return on 50 bn investment...that is 5.5 bn earned a year. They could pay tuition, room and board for all students with monies left over
No need for federal, state, city or student money.
A self supporting monolith. They still could get 1/2 of tuition, r&b, private grants, and some government money. Not to mention money from patents developed. Rollin’ in the dough.
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just the first of many bad debt roosters coming home to roost in the hundreds (thousands?) of empty towers of the many ghost cities in china ...
it’s possible that the chinese economy could implode from this ...
$50 billion? Somebody got really rich, and if they are CCP members, then Xi is going to have a heart attack or a stroke soon.
There are some estimates out there that says China currently has enough housing to house everybody in the country twice.
CC
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