China's Evergrande Delivers Real Estate Products to Over 57,000 Customers in 4 Months

Seemingly Taking Steps to Dispel Default Crisis... Fundamental Risks Remain

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Yoo Je-hoon] Chinese real estate company Evergrande (恒大·Evergreen), which is facing a liquidity crisis, has delivered real estate products to more than 57,000 customers over the past four months, according to a report by China Securities Journal on the 3rd.

According to the report, Evergrande announced through its WeChat account on the same day that it had delivered real estate products to 57,462 customers related to 184 construction projects over the past four months since July.

The market views this announcement as an emphasis that the group's core real estate business is normalizing, aiming to dispel market concerns related to the risk of default. Previously, Evergrande barely avoided default by paying bond interest last month.

However, considering Evergrande's debt scale of about 2 trillion yuan, the liquidity problem has not been fundamentally resolved, and market anxiety is expected to continue. Evergrande attempted to overcome the liquidity crisis by selling shares of its subsidiary Evergrande Property, but the attempt failed.

This content was produced with the assistance of AI translation services.