China Evergrande resumes trading today: operating loss in the first half of the year was 17.38 billion, and liabilities reached 2.38 trillion

According to news from this site on August 28, China Evergrande began to suspend trading on March 21, 2022. It had been suspended for more than 500 days. According to its latest announcement, they will resume trading today. Hong Kong stocks opened at 9 a.m. today. China Evergrande (03333.HK) fell 86.67%.

▲ Picture source China Evergrande’s announcement on the Hong Kong Stock Exchange

This site obtained the announcement from China Evergrande’s announcement on the Hong Kong Stock Exchange As we know, in the first half of 2023, China Evergrande’s revenue was approximately 128.18 billion yuan, gross profit was approximately 9.8 billion yuan, gross profit margin was 7.64%, operating loss during the period was 17.38 billion yuan, non-operating losses ( Including other losses such as litigation, land resumption, equity disposal and asset valuation impairment) of 15.03 billion yuan, income tax expenses of 6.84 billion yuan, and a total net loss of 39.25 billion yuan. China Evergrande’s cash and cash equivalents are approximately 4.047 billion yuan, of which restricted cash is approximately 9.334 billion yuan.

In terms of liabilities, As of June 30, China Evergrande’s total liabilities were 2.38 trillion yuan, excluding contract liabilities of 603.98 billion yuan, which was 1.78422 billion yuan, of which 624.77 billion yuan was borrowed , trade accounts payable and other payables amounted to RMB 1,056.57 billion (including RMB 596.17 billion for engineering materials payable), and other liabilities amounted to RMB 102.88 billion. The borrowings were 624.77 billion yuan, an increase of 12.38 billion yuan from the borrowings of 612.39 billion yuan at the end of 2022. The average annual interest rate of borrowings was 7.97%, which was lower than the 8.12% at the end of 2022.

Evergrande Motors recently released a mid-year performance announcement. The announcement mentioned that they successfully divested real estate projects on May 12, which resulted in a reduction of 43.139 billion yuan in net debt in the financial statements

As of June 30, 2023, Evergrande Automobile Company’s net liabilities dropped to 32.84 billion yuan; total assets were 42.852 billion yuan; total liabilities were 75.692 billion yuan, of which: borrowings were 26.997 billion yuan (that is, debt-for-equity swaps) borrowings of 17.278 billion yuan), trade and other payables of 42.273 billion yuan, and other liabilities of 6.422 billion yuan

##▲ Source Evergrande Financial report information released by the car

▲ Picture source Financial report information released by Evergrande Automobile

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