Evergrande

Chinese authorities have detained several staff members of Evergrande’s wealth management unit following the company’s failure to repay investors. This marks the first criminal investigation against the embattled property developer since it faced a massive debt crisis in late 2021. Shares of Evergrande plummeted by as much as 26% in Hong Kong on Monday, although…

Evergrande Group, the heavily indebted Chinese property developer, has finally released its long-delayed financial results, marking a crucial step in its debt restructuring, which is poised to become one of the largest in Chinese corporate history. According to a filing on Monday with the stock exchange, the company reported losses amounting to 476 billion yuan…