China Evergrande: As of the end of June, Evergrande Real Estate has accumulated approximately 287.468 billion yuan in outstanding matured debts, showing | amount | real estate | agreement | debt restructuring | cumulative | China | Evergrande
On the evening of July 28th, China Evergrande disclosed its outstanding debt situation.
According to the announcement, as of the end of June 2023, Evergrande Real Estate had a total of 1875 pending litigation cases with a total amount of over 30 million yuan, with a total amount of approximately 429.407 billion yuan.
In addition, as of the end of June 2023, Evergrande Real Estate had a cumulative outstanding debt of approximately 287.468 billion yuan; Evergrande Real Estate's overdue commercial bills have accumulated to approximately 244.663 billion yuan.
China Evergrande's shares will cease trading from 9:00 am on March 21, 2022, and the trading of company shares will continue to be suspended until further notice.
The quarterly information update previously disclosed by China Evergrande shows that in order to effectively protect the legitimate rights and interests of homebuyers and creditors, the group is striving to maintain the stability of production and operation. To this end, the group has made efforts to seek support from multiple construction companies and building material suppliers, and 677 sold and undelivered projects have effectively resumed work.
From January to May 2023, China Evergrande delivered approximately 122000 houses with a total construction area of approximately 13.89 million square meters. From January to May this year, China Evergrande achieved a contracted sales amount of 33.767 billion yuan and a contracted sales area of 4.9258 million square meters.
In terms of overseas debt restructuring, China Evergrande stated that the company announced its overseas debt restructuring plan on March 22, 2023. The company and its financial and legal advisors are actively working with the group of overseas bondholders and their advisors to implement the archives of the overseas debt restructuring plan.
On the evening of July 26th, China Evergrande announced the latest news on overseas debt restructuring.
China Evergrande announced that the High Court of the Hong Kong Special Administrative Region, the Grand Court of the Cayman Islands, and the High Court of the Supreme Court of the Eastern Caribbean in the British Virgin Islands have respectively instructed the convening of creditor meetings for the Evergrande, Jingcheng, and Space-based arrangements to vote and approve each arrangement.
The agreement arrangement meeting is expected to be held on the following dates: The Evergrande agreement is scheduled for August 23, 2023; The space-based agreement is scheduled for August 22, 2023; The Jingcheng agreement is scheduled for August 22, 2023.