Motor Vehicles, Alternative Fuel Vehicles, Real Estate Services/Transactions, Automotive, Real Estate/Construction, Real Estate, Ownership Changes, Corporate Actions, Corporate/Industrial News, Divestments

Motor Vehicles, Alternative Fuel Vehicles

China Evergrande’s Electric-Vehicle Business Warns of Cash Squeeze

The EV unit of the heavily indebted Chinese property developer said it might not be able to meet its financial obligations.

9/25/2021 8:51:00 AM

The EV unit of debt-laden Chinese property developer Evergrande said it might not be able to meet its financial obligations

The EV unit of the heavily indebted Chinese property developer said it might not be able to meet its financial obligations.

Sept. 25, 2021 1:27 am ETChina Evergrande Group ’s once-highflying electric-vehicle unit warned it was facing a “serious shortage of funds” and might not be able to meet its financial obligations, adding to the challenges facing itsheavily indebted parent company

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.In a filing late Friday in Hong Kong, China Evergrande New Energy Vehicle Group Ltd. , or Evergrande Auto, also said that it had stopped paying some operating expenses, and that some companies had stopped providing it with supplies. The EV maker said there hadn’t been material progress on restarting projects that had previously stalled because of payment delays.

Read more: The Wall Street Journal »

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Volunteers from three organizations have moved the massive reptile back into the ocean and will continue to monitor its progress.

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horrible So what ? It was a bad investment !

China Evergrande Never Got Auditor Warning Despite Big Debt LoadLast year the property developer offered deep discounts to keep sales growing and the government effectively said it had borrowed too much, yet its auditor gave it a clean bill of health.

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China Evergrande shares slide 6% in early tradeShares of cash-strapped China Evergrande fell as much as 6% in early trade on Friday, paring gains of nearly 18% the previous day as time ticked by on an interest payment deadline for the country's most indebted developer.

Stock Futures Point to Extended Rally, as Investors Eye Evergrande PaymentU.S. stock futures rose as investors remained upbeat that trouble with property giant China Evergrande can be contained and digested the Federal Reserve’s decision to tee up a reversal of its stimulus measures. We don’t buy bitcoin We earn bitcoin From Mining I'm ready to show 10 lucky people on how to earn 0.1 ($4,845) and more daily! No referral No withdrawal fees Interested people only Kindly send us a DM

China Evergrande nears interest payment deadlineChina Evergrande Group will make it a top priority to help retail investors redeem their investment products sold by the indebted property giant, its chairman said, as uncertainty looms over interest payment due for a dollar bond on Thursday.

China asks local officials to prepare for 'possible storm' if Evergrande fails, WSJ saysChinese authorities are preparing for the potential downfall of Evergrande, the Wall Street Journal reported Thursday. China will give them a loan for the loans……. LONDON, Sept 23 (Reuters) – Bank of England Deputy Governor Sam Woods said on Thursday that Britain's banks have no major exposures to Evergrande and he does not expect the troubled Chinese property group to 'go badly wrong'.