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Cash-strapped property developer Evergrande Group saw its Shenzhen headquarters fall into a state of chaos on Monday when about 100 disgruntled investors came to demand repayment of loans and financial products.
Six executives of the heavily indebted China Evergrande Group have fully returned funds from early redemptions of the company's investment products before Friday, the property group said Saturday.
Evergrande Group has moved out of its headquarters building in Shenzhen, and that the building has removed branding that displays "Evergrande Group."
Chinese property developer Evergrande Group successively sold its shares in HengTen Networks on November 4 and 5, cashing out about HKD 717 million ($92.1 million) in total and lowering its shareholding ratio from 26.55% to 22.98%.
Embattled property giant China Evergrande Group and its subsidiary units suspended trading in Hong Kong on Monday morning, according to exchange filings, without offering any explanation.
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.
The company has granted share options to certain independent, non-executive directors and some employees, including scientific research personnel, under its share option scheme that was adopted on June 6, 2018.
Reuters reported on Oct 15 that NEVS, a Swedish electric vehicle (EV) unit under China Evergrande Group, is negotiating with U.S. and European venture capital companies and industrial partners to find a new owner.