Evergrande

PwC Hong Kong to pay Evergrande shareholders HK$1 billion in compensation, SFC says

The property developer is the world’s most indebted developer which is in liquidation

From a poor rural boy to a property tycoon and China’s richest man, and ultimately to a prisoner, Hui Ka Yan once built an empire from nothing and rose to extraordinary heights.

Evergrande’s Hui Ka Yan: From rags to empire to prison

Over the past two years, authorities have gradually tightened their net around the series of the property developer cases

Evergrande Property Services says that exclusive negotiations with a selected bidder will take place for 30 business days.

Evergrande liquidators pick state-owned tourism company for exclusive sale talks

More investors may join Guangdong Provincial Tourism if an agreement for the sale is reached, sources say

In 2017, Hui Ka Yan was Asia’s richest man, with a net worth of US$45.3 billion, according to Forbes.

China Evergrande’s billionaire boss falls from circles of power to fraud plea

His plea draws a line under the collapse of an empire that thrust China’s property sector into the glare of global investors

Evergrande founder Hui Ka Yan “pleaded guilty and expressed remorse” in trial proceedings on Monday (Apr 13) and Tuesday against him.

China Evergrande founder pleads guilty to fraud in Shenzhen court

Hui and the company also face charges of illegally extending loans, fraudulently issuing securities and bribery by units

The developer faces 187 debt claims totalling about US$45 billion, with liquidators saying in August that any “holistic” restructuring is out of reach.

Evergrande Property said to expect binding offers by this month

Offers are expected to be below the current share price

Vanke’s surprise move adds to the industry’s woes after years of falling sales and massive defaults by China Evergrande Group, Country Garden Holdings, and others.

China’s private data on home sales vanishes after Vanke turmoil

Global banks remain pessimistic on China’s property market, which has faced renewed sales weakness since the second quarter

Evergrande’s downfall is by far the biggest in a crisis that dragged down China’s economic growth and led to a record number of distressed builders.

Why China can’t sort out its property market mess

Since mid-2024, the government has cut borrowing costs on existing mortgages, relaxed buying curbs in big cities and lowered taxes on home purchases

The company, which first defaulted in 2021, was once the country’s largest developer by sales.

Evergrande’s iconic Canadian hotel to be sold after default

The 95-year-old property will remain open during the sale process

Hui has not complied with a court order to disclose his assets in Hong Kong and overseas.

China Evergrande liquidators appointed as receivers over founder's assets

This is the liquidators’ latest effort to recover US$6 billion in dividends and remuneration paid to Hui and other former executives