Original title: Early redemption of 16.5 billion yuan exchange bonds Evergrande ADR US stocks rose more than 10% in early trading Source: Financial Network

The financial community reported on January 19 that China Evergrande issued an announcement on Monday to use its own funds to early repay the principal and interest of HK$18.352 billion convertible bonds due in 2023. Evergrande ADR's US stock surged more than 10% in early trading on Tuesday, and its Hong Kong stock closed up more than 15% today.

According to statistics, in just four months from September of last year until now, Evergrande has used its own funds to repay its debts early on 4 occasions, and the cumulative debt repayment has exceeded HK$47.7 billion.

In March of last year, Evergrande fully implemented the “high growth, scale control, and debt reduction” development strategy, and achieved remarkable results: in 2020, Evergrande achieved sales of 723.25 billion yuan, an increase of 20.3% year on year, and sales repayment of 653.16 billion yuan, an increase of 38.5% year on year, all of which reached record highs. Thanks to strong sales payback, by the end of 2020, Evergrande's interest-bearing debt had dropped by 157.8 billion dollars compared to when the new strategy was implemented at the end of March last year.

Analysts pointed out that at the beginning of the new year, Evergrande once again made a big deal of early debt repayment, reflecting the company's strong financial strength and firm determination to reduce debt, and laid a solid foundation for achieving the goal of “reducing interest-bearing debt by 150 billion dollars this year.”