Has Evergrande declared bankruptcy and reorganization?

Evergrande Group has not declared bankruptcy.

First of all, the national working group has been stationed in Evergrande Group for some time, and all of them have officially started their work. Evergrande has not been declared bankrupt for such a long time, which shows that the state does not think bankruptcy liquidation is a good scheme to repay debts.

Indeed, in the downturn of the real estate market, it is very uneconomical to conduct bankruptcy liquidation of Evergrande's high-quality land assets, and the liquidation price will be far lower than the actual value of the land assets. Moreover, this bankruptcy liquidation method has a great impact on the land assets of other housing enterprises and cannot achieve the best results.

Brief introduction of China Evergrande Group

China Evergrande Group, formerly known as Evergrande Real Estate Group Co., Ltd., is an international enterprise group listed on the main board of Hong Kong Stock Exchange, integrating real estate planning and design, development and construction, and property management. Its registered place is in Cayman Islands (UK).

20211February 3, China Evergrande Group announced on the Hong Kong Stock Exchange that it could not fulfill its guarantee responsibility. The Guangdong Provincial People's Government paid close attention to this and immediately interviewed Mr. Xu Jiayin, the actual controller of China Evergrande Group.

At the request of Evergrande Real Estate Group Co., Ltd., in order to effectively resolve risks, protect the interests of all parties and maintain social stability, the Guangdong Provincial People's Government agreed to send a working group to Evergrande Real Estate Group Co., Ltd. to urge enterprises to handle risks, strengthen internal control management and maintain normal operation.

Reference to the above contents: National Business Daily-Evergrande Group: The statement of bankruptcy and reorganization is completely untrue.