Real Estate

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


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…


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