Real Estate

China Evergrande shares briefly pop in reopen after developer says contracted sales dropped 38.7% in 2021

0


An exterior view of China Evergrande Centre in Hong Kong, China March 26, 2018.

Bobby Yip | Reuters

BEIJING — Indebted property developer China Evergrande‘s contracted sales plunged last year as the real estate giant struggled to repay creditors.

A filing Tuesday showed the company’s contracted sales of properties totaled 443.02 billion yuan ($69.22 billion) last year, down 38.7% from the 723.25 billion yuan in contracted sales reported for 2020.

Evergrande shares reopened higher in Hong Kong on Tuesday afternoon, with shares trying to hold gains of about 3% before turning lower.

Trading was halted as of 9 a.m. Monday, with shares at 1.59 Hong Kong dollars (20 cents) each. That’s just above…



Source cnbc.com

0 0 votes
Article Rating

Ford beats Tesla to become auto industry’s top growth stock in 2021

Previous article

Tesla opens dealership in Xinjiang, China

Next article

You may also like

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

More in Real Estate