2023-07-18 05:37:20
The Evergrande Group, a major Chinese real estate company, has been promoting real estate development with large-scale financing, but due to the effects of tightening regulations by the Chinese government, the company faced a management crisis and defaulted.
Until now, we have postponed the announcement of financial results, but on the night of the 17th, we announced the financial results for the two years up to last year.
According to that,
▽ Last year’s final deficit was 105.9 billion yuan, approximately 2 trillion yen in Japanese yen
▽ The final deficit for the year before was 476 billion yuan, or more than 9 trillion yen in Japanese yen.
It has been a huge final deficit for the second year in a row.
This is due to factors such as lowering the valuation of properties under development and a significant decrease in sales.
In addition, the total amount of debt was approximately 47 trillion yen as of December last year.
The company is emphasizing its policy of restructuring management, including revising debt repayment conditions, but it has become clear that the company is in a difficult financial situation.
In China, the slump in the real estate market has been protracted, and there is still deep-rooted concern that the deterioration of the management of related companies will spread to the entire Chinese economy.
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