Evergrande, which has hundreds of billions of dollars in debt, is trying to reassure its investors.
Evergrande posted photos of the construction of at least nine urban projects on its official Wechat Evergrande Group on Sunday, saying some of them had been completed.
According to the news, the Shenzhen company of Evergrande Group, which is located at the headquarters of Evergrande, including more than 10 projects in Shenzhen, Dongguan, Jiangmen, Shanwei, Zhuhai and Zhongshan, is in an orderly process of resuming work and production, and goes all out to implement the requirements of the government's Baojiao building.
Among them, the faster progress of Shenzhen Evergrande City Light, Jiangmen Evergrande Quandu, Zhongshan Evergrande Imperial Mansion, etc. have entered the stage of interior decoration and will be delivered to the owners one after another; some buildings in the projects such as Shenzhen Evergrande Lianrui Tower, Shenzhen Evergrande City, Dongguan Evergrande Yuelongtai, Zhuhai Evergrande Binjiang left Bank and so on have been capped one after another recently.
Evergrande said in an announcement on Aug. 31 that some of its projects had been suspended. At the same time, it said that if the project fails to resume work, "there may be a wind direction that impairs the value of the project and affects the liquidity of Evergrande." As of June this year, Evergrande had a load of more than $300 billion, and its total land reserves covered more than 770 projects in 223 cities in China. Investors are increasingly worried about this happening.
On Friday, Evergrande has repaid interest on an offshore bond due in September, totaling $83.5 million, according to the Securities Times. China Evergrande Group's Hong Kong shares fell 0.74% to 2.67 yuan as of October 25.