China Evergrande 3333

[behappyalways]

China Evergrande Has Options to Avert Cash Crunch
https://www.youtube.com/watch?v=7g_LF-jO5g8

[winston]

not vested

Placement at HK$16.50

Oct 5, 2020

<Research Report>C Suisse: EVERGRANDE (03333.HK) 9M20 Sales Up 17%; Expected to Have More De-leveraging Efforts

EVERGRANDE (03333.HK)'s 9M20 contracted sales grew 17% YoY to RMB532 billion, implying a monthly sales of RMB82 billion in September (-2% YoY/ +59% MoM), Credit Suisse citing CRIC's preliminary data.

The developer addressed market concerns over its cash flow pressure with several measures.

Hence, it is expected to improve balance sheet and meet regulatory requirements with more de-leveraging actions.

EVERGRANDE was kept Neutral at a $16.6 target.

Source: AAStocks Financial News

[winston]

not vested

Sep 30, 2020

<IPO News>EVERGRANDE (03333.HK)'s Evergrande Property Files For Main Board Listing

EVERGRANDE (03333.HK) has submitted an application to the Stock Exchange for the proposed spin-off of Evergrande Property Services for listing on the main board.

UBS, CCB International and Haitong International are among the joint sponsors.

Source: AAStocks Financial News

[winston]

not vested

Sep 18, 2020

<Research Report>DBS Adds EVERGRANDE (03333.HK) TP to $18.96; Negatives Factored In

EVERGRANDE (03333.HK) is holding up land acquisitions but speeding up pre-sales to boost cash, reported DBS Group Research.

The firm is also monetizing its NEV and property management units.

EVERGRANDE was kept at Buy as negatives should have been reflected after recent corrections. Its target was raised from $14.3 to $18.96.

Source: AAStocks Financial News

[winston]

not vested

Sep 28, 2020

What’s New

Expect renegotiations on investment terms to take place with strategic investors

Equity fund raising from New Energy Vehicles and property management businesses, to help deleverage

Our cash flow analysis shows land acquisition slowdown is key to reduce total debt

Deleveraging is the top priority with an aim to reduce total debt by Rmb150bn in FY20-22 through presales, cash collection and slower land acquisitions.

Evergrande is raising funds for its new energy vehicle (NEV) and property management businesses via equity fund raising of up to HK$45bn in 2H20 as per our estimates.

70%-owned NEV arm is trading at a similar market cap as the company, implying a distressed valuation for its property development business.

Source: DBS

https://researchwise.dbsvresearch.com/R ... hfhakfhgbh

[winston]

not vested

Evergrande deal misses target after founder cut out rich friends

by Julia Fioretti & Cathy Chan

While Evergrande did entice several big-name buyers including Norway’s sovereign wealth fund, the share sale ended up raising about half the targeted amount and was priced at a steep discount to the previous close.

China. While the company isn’t facing an immediate liquidity crisis, its US$120 billion mountain of debt remains a concern for investors and Chinese regulators.

Among the developer’s near-term liabilities are about 10.6 billion yuan (US$1.6 billion) of domestic bonds maturing Friday.

Evergrande still has multiple avenues to raise cash. It’s sitting on one of the biggest portfolios of undeveloped land in China and has been cutting prices for new homes to ramp up sales.

The initial public offering of the Service Business company could raise as much as 30 billion yuan by year end.

The auto unit plans to list shares in Shanghai. That stock sale could raise 34 billion yuan, according to HSBC.

Source: Bloomberg

https://www.theedgemarkets.com/article/ ... ch-friends

[winston]

not vested

Evergrande backer eyes 23b yuan pullout

by Stella Zhai

China Evergrande's (3333) largest investor is leaning toward demanding repayment of the 23 billion yuan (HK$26.5 billion) it invested in the debt-ridden developer, whose shares sank 17 percent after a share placement.

Investors linked to state-owned Shandong Hi-Speed Group can require to be repaid if Evergrande fails to get a long-delayed backdoor listing of its main real estate assets in China by January 31 next year.

The provincial State-owned Assets Supervision and Administration Commission, which has oversight of Shandong Hi-Speed, has balked at a deal concerned over possible losses, one of the people said.

Any agreement would require its approval.

Evergrande said it is in talks with the strategic investor about turning the investment into common equity.

This came after Evergrande raised HK$4.3 billion from a share placement priced at a discount of 14.7 percent to the stock's last close, which was far short of its target to raise over HK$8.43 billion.

The developer sold 260.65 million shares with a lock-up period of 90 days. Evergrande said it would mainly use the proceeds raised to refinance its debt.

Shares of the developer dived below the placing price of HK$16.50, closing at HK$16.06 yesterday.

Source: The Standard

https://www.thestandard.com.hk/section- ... an-pullout

[behappyalways]

Transparency is Key

Anne Stevenson-Yang is the Co-Founder of J Capital Research, a New York short-selling firm that focuses on Chinese companies. In this episode, Anne talks about the fake Chinese agricultural companies she discovered on her travels as well as the ghost towns set up by the Chinese corporation Evergrande Group.
https://www.zer0es.tv/tells-and-trigger ... cy-is-key/

[behappyalways]

Remind me of Sino-Grandness

20000億債隨時攬炒 焗與許家印「共患難」 恒大債主變債仔 #財經－壹週刊 Next 原刊日期：20201007
https://m.youtube.com/watch?v=n0yDuCin0Q0

[behappyalways]

Debt-laden China Evergrande ends Shenzhen listing plan, some investors to stay on
https://www.cnbc.com/2020/11/09/debt-la ... y-on-.html