Evergrande PLUMMETS as Contagion Now Beyond China

Today, we look at China Evergrande Group's monumental share drop, falling up to 87% after a 17-month trading pause. Last seen at 1.65 Hong Kong dollars per share, it plummeted to 22 Hong Kong cents. The backdrop? Evergrande reported a loss of 39.25 billion yuan ($5.38 billion) for six months ending June, albeit better than the previous year's 86.17 billion yuan loss. Their revenue, however, improved to 128.81 billion yuan from 89.28 billion yuan in June 2022. Amidst this, Evergrande filed for Chapter 15 bankruptcy protection in the U.S. Their liabilities? A towering 2.39 trillion yuan as of June. But before 2021's default, in 2020, Evergrande even posted an 8.1 billion yuan profit. Dive with us into Evergrande's financial journey. #China #Evergrande #Bankruptcy #GlobalMarkets #stockmarket

TOPICS AND TIMESTAMPS:
Evergrande Stock Falls 0:00
Deeper Into It 9:44
What Else Happened? 12:30

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