Evergrande’s Shenzhen Building Removed its Signboard

Translated by: MOS Education Team – Sarahyy

On January 10th, Evergrande evacuated its Shenzhen headquarter and removed its signboard. They surrendered its lease and moving back to Guangzhou in December last year. Earlier information revealed that it has messily emptied the Shenzhen headquarter since last November, two month after news of their crash.

Evergrande officially relocated its headquarter from Guangzhou to Shenzhen in 2017. Since then, its sale volume increased from 500 billion to 720 billion RMB until 2020. Analysis indicated that the move was in the contexts of inability of debt repayment. Especially in 2021, nearly waist-low sale volume dropping to lower than in 2017 with only about 430 billion, downed 38% in one year base. Evergrande’s panic movement will further exacerbate the market into dreading about its future.

Proofread by: Saturn

Edited and posted by: Saturn

References:

  1. https://finance.sina.com.cn/stock/estate/integration/2022-01-10/doc-ikyamrmz4254320.shtml
  2. http://m.thepaper.cn/rss_newsDetail_16219349?from=sohu
  3. http://www.jwview.com/jingwei/html/01-06/372932.shtml
  4. https://www.sohu.com/a/514292174_260616

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