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China Evergrande Group (EGRNY)

Other OTC - Other OTC Delayed Price. Currency in USD
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3.9000+0.0750 (+1.96%)
At close: 02:07PM EDT
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  • S
    Solidus
    This is the last sign of life this stock has... China is finished...
  • j
    jim
    Crazy that they dont even have to hide a 200 billion dollar debt ridden company anymore. It's just the norm nowadays.
  • V
    ValueGuy
    Been following the Evergrande story for awhile now. Fascinating back-story, but would not invest money here. They had to suspend trading because creditors seized billions in assets, and it sounds like the company had basically no knowledge of this until it was too late because it was all "off balance sheet". I'm sure there is more news to come, and this won't be the only accounting "inconvenience" in the coming months.
  • j
    jim
    Lol so the company that started the collapse is up while the rest are down.
    Are we even pretending this is a market anymore?
  • R
    Richard
    Thus default will becrazy
  • T
    The Rainmaker
    Suspended again, my goodness man. Would someone just file for bankruptcy and put this misery down already.
  • v
    vp
    Over Evergrande? I don't think I'll ever get over Evergrande.
  • m
    medhat
    Halted it does NOT mean bad news. It means has news that can make the share price changes in a big way. Last time it was halted opened higher. This time must due with the negotiations over the loans. It should be positive news knowing they are taking care of the bond holders/ shareholders.

    Good Luck Longs
  • S
    Solidus
    The CCP is dying... this is proof... Their last desperate attempts to stay in power over the past few years is clear...
  • Y
    Yahoo Finance Insights
    3333.HK reached a 52 Week low at 1.31
  • T
    TheTruth
    This is a dead zombie stock. It’s a lie and everything that is wrong with todays market. They just can’t lose to retail.
  • D
    DRS
    halted trading = more obvious crime
  • Y
    Yahoo Finance Insights
    3333.HK reached a 52 Week low at 1.41
  • j
    jim
    China's ambitious plans for urban growth have led to more than 50 abandoned cities LOL
  • j
    jim
    30 year fake property boom in China coming crashing down LOL
  • y
    yahooyoshi
    Chain reaction ....
    The problem is not only the company's unbelievable debts. The "" little people "" who had painstakingly saved the money for their own apartment are now faced with a pile of "" nothing "". The money was spent, but not for YOUR apartment, but for some other project, and no one knows where these infinite sums of debt actually went. Because Evergrande can no longer pay interest.

    And as a chain reaction, in the event of Evergrande's insolvency, there is also the default in payment of all the companies that worked for Evergrande contracts in construction, planning, administration, etc. If these companies (subcontractors) also no longer receive any money for their work and orders that have already been completed, THESE ones also go bankrupt and their employees and workers no longer receive wages ....
    No wages - no food or other purchases - and that money is ultimately lacking in the entire economy.

    The iron and steel sector is already suffering from the disaster in the Chinese real estate sector. No new buildings also means no (less) demand for steel ...

    The big iron ore mining companies such as Rio Tinto from Great Britain or Fortescue Metal Group from Australia have already lost immense value on the stock exchanges in the last few days, as the iron price has only been reduced by countering the high ore prices and the problems in the construction sector by Chinese policy a few weeks, has lost more than 50%.

    Evergrande is not a bank like Lehman Brothers in the US that conjured up the financial crisis in 2008, but with a mountain of debt of 300 billion. Dollars, that cannot possibly be accomplished without major problems for the global financial markets.
    In the world of finance and on the stock exchanges, there is far too much clinging to one another - and to one another ......
  • J
    Julius Caesar - Renaissance
    If you're looking to invest in China Evergrande Group it's better to wait and see what happens to its debt. My expectation: sale of its assets to cover the loands from banks with zero value remaining for shareholders.
    Even if debt can be paid by selling some assets: what about the image of Evergrande?
    Potential Chinese homeowners don't even want to buy a house of a near default real estate company even if they get major discounts compared to competitors - the image imposes another risk on top of the potential default risk. Best to avoid - have a look at the major Chinese players in tech: great balance sheet, great financials and growth, yet priced near all time low valuations as well.
    Bearish on Evergrande Group (unless positive information comes out) - bullish on big Chinese tech.
  • T
    The Rainmaker
    Not sure why they allow this stock to trade any longer. For months now, the company has been defaulting on their repayments. Guaranteed bankrupt company.
  • B
    Blake Moody
    Honestly this baffles me they keep going up on "good news". Good News: selling their stake in a bank for $1.55billion. They still owe over $300billion they still have way too much money to pay back.