China's real estate giant Evergrande Group, which is in financial difficulty, has announced that it will sell its shares in Internet-related companies for about 30 billion yen in Japanese yen.
The aim is to improve cash flow, but the future of management remains uncertain.
On the 18th, the Evergrande Group, which has huge debt, holds about HK $ 2.1 billion in all 18% of the shares of its affiliated companies that handle video distribution on the Internet, and is a Hong Kong company with about 30 billion yen in Japanese yen. Announced to sell to.
The company is believed to have survived the interest payments on corporate bonds that have expired one after another in a tightrope walk, and this sale is also aimed at improving the tough cash flow.
However, it is said that it will record a loss of more than 120 billion yen in Japanese yen because it sells shares at a lower price than the book price.
Regarding the Evergrande Group, Chinese media and others have reported that they have raised more than 120 billion yen in Japanese yen since July by collateralizing and selling personal assets such as houses owned by President Xu Jiayin. ..
Meanwhile, an interior company in Shanghai has filed more than 300 trials in various parts of the country, claiming that the contracted construction work has not been paid, and has asked the Evergrande Group to pay a total of about 4 billion yen in Japanese yen since last month. There are other debt-related issues, such as announcing that it has caused a problem, and the future of management remains uncertain.