Zhongxin Finance, March 24th. At the end of March, it was an intensive release period for the annual reports of listed companies. In the current annual report season, many real estate companies have successively applied for delayed submission of documents.

  "Brighten your family's wealth" changed to "release pigeons".

  Kaisa announced on the Hong Kong Stock Exchange on the 23rd that it is expected that the Group's results for the year ended December 31, 2021 will not be published on or before March 31, 2022. Trading on the Stock Exchange will be suspended from 9:00 a.m. on 1 April 2022 in accordance with the Listing Rules.

  Evergrande Real Estate also announced on the Shanghai Stock Exchange on the 22nd that, as the main real estate operating entity in China Evergrande, it is expected that the audit work will not be completed on time before April 30, 2022. After the audit work is completed, the company will release 2021 as soon as practicable. Annual corporate bond annual report and 2021 annual audit report.

  Previously, Shimao Group, Shimao Services, Sunac China, Xinli Holdings, etc. also announced that they would delay the publication of the 2021 annual report.

  "Usually the papers are submitted late, and they all have stories." Some netizens commented on Weibo.

  Evergrande said that due to major changes in its operating conditions, the auditors added a large number of additional audit procedures this year, superimposed the related impact of the new crown epidemic. According to the information currently available to China Evergrande, the audit procedures could not be completed on time.

  Evergrande is not the only real estate company with stories in the audit process.

  Ronshine China issued an announcement on the 21st saying that due to the failure to negotiate and reach an agreement with PricewaterhouseCoopers on the total audit fee for the annual performance review in 2021, it is expected that the audited consolidated financial statements for 2021 will not be released before March 31. Report, the board of directors decided to resign as auditor, which led to the delay in publishing the annual report.

  Xinli Holdings said the delay in its financial reporting was due to employee departures.

It stated that although efforts were made to recruit replacement staff, the financial reporting unit was unable to operate normally and effectively due to a shortage of staff in the financial reporting unit.

The Group will continue to recruit suitable replacements to fill vacancies in the Group's financial reporting unit and publish appropriate announcements, including the Group's unaudited financial results, as soon as possible.

  Kaisa attributed the reason to the epidemic. "Due to the latest wave of the new crown pneumonia outbreak in March, the company headquarters had to be forced to blockade, and Shenzhen subsequently imposed a city-wide blockade, and the review process was delayed."

  Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, said that the main reason for the delay in the release of the annual reports of some real estate companies was the interference of the epidemic, which made it difficult to advance the audit work.

"In the current environment, investors are more sensitive to the delayed release of annual reports by real estate companies, and companies should actively and frankly communicate with investors to relieve investors' concerns."

  Differences in the audit process may also be related to the operating conditions of the company.

Tahoe, Fusheng International, Xinyuan Real Estate, etc., which have not disclosed their performance as scheduled in the annual report season, are all real estate companies with problems.

And Xinli Holdings, which kicked off this year's annual report, has also been in a difficult situation for nearly half a year.

  Statistics released by the China Index Research Institute show that 27 of the 64 A-share real estate companies that have released their 2021 performance forecasts as of February 8 are expected to lose money, accounting for about 42.2%.

Among them, China Fortune Land Development’s pre-loss amounted to 33.1 billion to 39.1 billion yuan, Blu-ray and Oceanwide Holdings lost over 10 billion yuan, and Sunshine City’s pre-loss amount was up to 5.8 billion yuan.

  Among the real estate companies that have delayed their debut, Evergrande is deeply involved in debt problems. Evergrande Property has a deposit of about 13.4 billion yuan, and the pledge security provided for third parties has been enforced by relevant banks.

  Kaisa exposed its liquidity crisis in November last year.

First, Kaisa's mature wealth management products were overdue, and then the US dollar bonds were due and unpaid, and then it carried out a series of self-rescue measures.

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