China’s embattled Evergrande to delist from Hong Kong exchange

HONG KONG (AFP): Chinese embattled property giant Evergrande Group announced on Tuesday that it will delist from the Hong Kong Stock Exchange, following years of crisis.

In a filing, the company said the stock exchange’s listing committee had decided to cancel its listing.

Once China’s most prominent real estate firm, Evergrande, defaulted in 2021 and has become emblematic of a years-long crisis in the country’s property market that reverberated throughout the world’s second-largest economy.

A Hong Kong court issued a winding-up order for Evergrande in January 2024, ruling that the company had failed to propose a debt repayment plan that was acceptable to its creditors.

Evergrande’s shares on the Hong Kong stock exchange were suspended that month.

Liquidators have made moves to recover creditors’ investments, including filing a lawsuit against PwC and its mainland Chinese arm for their role in auditing the debt-ridden developer.

Evergrande’s share listing will be cancelled on Aug. 25, according to Tuesday’s filing, which was attributed to liquidators Edward Middleton and Tiffany Wong.

Middleton and Wong said in an attached progress report that Evergrande’s debt load was bigger than the previously estimated $27.5 billion.

“As at July 31, 2025, this claims’ discovery exercise had resulted in 187 proofs of debt being submitted, by which claims of approximately HK$350 billion ($45 billion) in aggregate have been made,” the document read.

This figure was not to be taken as final, Middleton and Wong added.