The 20 billion shares held by Evergrande were frozen, and the total amount of Evergrande real estate was enforced to exceed 54.7 billion yuan
Edited by: Du Yu
According to Tianyancha, recently, Evergrande Group Co., Ltd. added a new information on equity freezing, the enterprise whose equity was executed is Evergrande High-tech Group Co., Ltd., with a frozen equity amount of 20 billion yuan, and the freezing period is from October 27, 2023 to October 26, 2026, and the enforcement court is the Intermediate People's Court of Cangzhou City, Hebei Province.
Image source: Tianyancha
Evergrande High-tech Group Co., Ltd. was established in June 2018, the legal representative is Lincolnqiu, with a registered capital of 20 billion yuan, and its business scope includes high-tech industry operations, development, application and promotion and transfer of technologies for life sciences, aerospace, integrated circuits, quantum technology, new energy, artificial intelligence, and robotics, technical consulting services, information consulting services, etc., which are wholly owned by Evergrande Group Co., Ltd.
Image source: Qixinbao
The risk information shows that the company has 1 piece of information on the person subject to execution, and it was forced to pay more than 5.54 million yuan in October this year.
Image source: Tianyancha
According to brokerage China, Evergrande High-tech Group also belongs to Evergrande's enterprises that have been less executed, and Evergrande Real Estate Group, a subsidiary of Evergrande, is an enterprise that has been more executed and exposed.
According to the enterprise investigation, from November 1 to 3, Evergrande Real Estate Group Co., Ltd. added a number of information on the person subject to execution, with a total of more than 400 million yuan in the subject of enforcement, involving financial loan contract disputes, bill disputes, etc., and the enforcement courts include the People's Court of Guanshanhu District, Guiyang City, Jinan Intermediate People's Court, etc. According to the risk information, at present, Evergrande Real Estate Group Co., Ltd. has more than 520 pieces of information on persons subject to execution, with a total amount of more than 54.7 billion yuan. In addition, the company also has a number of consumption restriction orders, judgment defaulters (lai) and final case information.
Image source: Daily Economic News Data map (unrelated to the picture and text)
On the evening of October 31, Evergrande Real Estate Group Co., Ltd. announced that as of the end of September 2023, Evergrande Real Estate Group had accumulated about 280.83 billion yuan of unpaid due debts, in addition, as of the end of September 2023, Evergrande Real Estate Group had accumulated about 206.084 billion yuan of overdue commercial bills, and as of the end of September 2023, the number of pending litigation cases with a subject amount of more than 30 million yuan totaled 1,961, and the total amount of the subject matter was about 453.417 billion yuan.
Evergrande, which is burdened with 2.4 trillion yuan, recently got some respite.
On the afternoon of October 30, China Evergrande announced that it had previously filed a petition with China Evergrande on June 27, 2022, September 5, 2022, September 8, 2022, November 28, 2022, March 20, 2023 and July 31, 2023, respectively, in respect of the petitioner's petition to China Evergrande, as well as the announcement on the postponement of the date of the hearing of the petition.
China Evergrande announced that on 30 October 2023, the High Court of Hong Kong further adjourned the hearing of the petition to 4 December 2023.
It is worth noting that on October 20, China Evergrande announced that based on the current situation and consultation with its advisers and creditors, the company is revising the terms of the proposed restructuring to match the company's objective situation and creditors' requirements. Meanwhile, China Evergrande's hearing in the U.S. bankruptcy protection hearing in the Southern District of New York was scheduled to be adjourned on October 25, 2023.
According to the financial report data released by China Evergrande for the first half of 2023, as of June 30, China Evergrande's main revenue was about 128.18 billion yuan, with a total net loss of 39.25 billion yuan. China Evergrande's cash and cash equivalents amounted to approximately RMB4.047 billion. The total assets are 1,744 billion yuan, of which current assets are 1,578.5 billion yuan and total liabilities are 2,388.2 billion yuan.
As of the close of trading on November 6, China Evergrande (HK03333) reported HK$0.25, up 15.21% on the day, with a market value of HK$3.301 billion.
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National Business Daily