Evergrande Archives

PwC Denies Rumors of Suspending Business Operations in China

In response to various rumors such as 'Chinese operations may be suspended,' PwC has stated that these are all false information.

Evergrande Auto Suspends Salary Payments to Sales Staff

Chinese vehicle manufacturer Evergrande Auto is now in the midst of wage arrears and layoffs after plans were revealed to cut 60% of workers at its Tianjin plant.

Evergrande Auto Cuts 60% of Tianjin Factory Staff as Quality Concerns Swirl

The Hengchi 5 model made by the automotive wing of Chinese real estate developer Evergrande opened for sale at the end of October. Recently, however, some Chinese web users have complained that the new car is beset with various quality problems.

Hengchi 5 Electric SUV to Begin Pre-Sale in July

The pre-sale of the Hengchi 5, a car model made by Evergrande Auto, will start on July 6. Interested customers can make an appointment to test drive, which has been made available in the last week or so.

Evergrande Auto Orders Staff to Take Paid Leave until October 31st

Many Evergrande Auto employees said their department has asked them to take leave after China's seven-day National Day Holiday until October 31st.

Evergrande Auto Makes Late Night Announcement on Delays in Paying Suppliers and Projects

Constrained by poor liquidity, there has been a delay in paying suppliers and projects in the group’s Evergrande Elderly Care Valley and new energy vehicles, and some projects were in suspension.

China Evergrande Group Holds Special Late Night Meeting, Chairman Xu Jiayin Emphasizes Need to Fulfill Corporate Responsibilities

Chairman Xu Jiayin told more than 4,000 leaders at all levels attending the meeting that it is the obligation and responsibility of the company to carry out construction projects with good quality and quantity.

Evergrande Group Investigates Redemption of Investment Products by Executives, Requires Six Executives to Return Funds Within Time Limit

The ongoing storm related to the overdue redemption of Evergrande's wealth management products continues and doubts about the earlier redemption of these products by some of the company's senior executives are immense.

Evergrande Auto’s HK Stock Closes Down Over 24%

Evergrande Auto closed down 24.66% to HK $3.88 per share on Tuesday, with a total market value of HK $37.904 billion ($4.873 billion).

Behind the Evergrande Debt Debacle

Past weeks have seen an onslaught of headlines surrounding the ordeal now faced by China Evergrande Group, once the world’s leading real estate-owning company by total assets, as it grapples with a lack of funds to service its growing debt and deteriorating public confidence.

Faraday Future in Funding Talks with Geely, Evergrande to Push EV Production in China

Electric vehicle startup Faraday Future is ramping up efforts to launch its fully electric vehicles in China and seeking a new round of financing, according to multiple reports.

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