Billionaire founder Hui Ka Yan’s greatest downside is that Evergrande’s working capital is tied to its stock, composed largely of unfinished tasks. As of June, that stock accounted for about 60% of its complete belongings. Properties beneath growth, particularly, ballooned to 1.3 trillion yuan ($202 billion), a 54% soar from three years in the past. This explains why, every time confronted with road protests from offended collectors, all Evergrande may supply was unsold residences, retailer fronts and parking tons. It has no money.
https://www.washingtonpost.com/enterprise/evergrande-gives-china-an-impossible-equation-to-solve/2021/09/15/bc344bb0-15fb-11ec-a019-cb193b28aa73_story.html?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | Evergrande Provides China an Unimaginable Equation to Clear up