NextFin news, China Evergrande Group, a major real estate developer, was formally delisted from the Hong Kong Stock Exchange on Monday, August 25, 2025, marking the end of its 16-year presence on the market. The delisting took place in Hong Kong and was confirmed by multiple sources including The New York Times and Hiru News.
Evergrande, which debuted on the Hong Kong market in 2009, was once the fastest-growing property developer in China and held a stock market valuation exceeding $50 billion at its peak. However, the company collapsed under more than $300 billion in debt, becoming one of the world's most indebted companies and triggering a financial crisis that exposed vulnerabilities in China's economy.
The company’s downfall began after Beijing introduced new borrowing restrictions for large developers in 2020. Evergrande struggled to meet interest payments and defaulted on overseas debts. In January 2024, the Hong Kong High Court ordered the company to be wound up after it failed to present a viable plan to reduce its liabilities.
At the time of delisting, Evergrande had approximately $45 billion in outstanding debt and had sold only $255 million in assets, according to liquidators. The company left behind a large number of unfinished projects across 280 cities in China, including an unfinished residential compound on the outskirts of Shijiazhuang, Hebei Province.
Founder and former chairman Hui Ka Yan, once Asia's richest man with an estimated fortune of $45 billion in 2017, saw his wealth plummet to less than a billion dollars. In March 2024, Hui was fined $6.5 million and banned for life from China's capital markets for overstating company revenue by $78 billion.
Evergrande's collapse has had widespread economic impacts in China, contributing to a property market slump that has suppressed consumption and led to massive layoffs in the real estate sector. The property industry accounted for about one-third of China's economy and was a significant source of revenue for local governments.
The delisting is considered final, with experts stating there is no possibility of Evergrande returning to the stock market. The next liquidation hearing is scheduled for September 2025, as creditors await decisions on debt repayments.
Sources: The New York Times (published August 24, 2025), Hiru News (published August 25, 2025), South China Morning Post.
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