Evergrande in Talks to Sell Stakes in EV, Property Services

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Evergrande in Talks to Sell Stakes in EV, Property Services

Bloomberg2021-08-10

China Evergrande Groupsaid it’s in talks with investors on selling assets including part of the interests in China Evergrande New Energy Vehicle Group Ltd. and Evergrande Property Services Group Ltd. ...

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stormlee
·2021-08-10
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Marcngky
·2021-08-10
Gaa
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PanaCota
·2021-08-10
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lavin
·2021-08-10
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Yonghuilee
·2021-08-10
Awesome, like and comment
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carrotman
·2021-08-10
Nice
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·2021-08-10
??
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Kenang
·2021-08-10
Pls like & comment. Thanks
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third party investors,” the company said in a statement to the Hong Kong exchange. No concrete plan or formal agreement has been determined or entered into, it said.</p>\n<p>The troubled property giant has been offloading assets and listing units in an attempt to stave off a cash crunch. Evergrande’s equity and bond holders have been rattled in recent weeks by a slew of reports about wary banks and unpaid dues to suppliers. Last week, a Caixin report saying that creditor lawsuits against Evergrande would be consolidated triggered another slump in the developer’s bonds.</p>\n<p>Potential sources of future funding for Evergrande include placements for its electric vehicle and property management units, and initial public offerings for operations including its beverage business, FCB, and amusement park and tourism properties, Fitch Ratings said earlier.</p>\n<p>While the EV unit is one of its better valued assets, it reported a widening preliminary net loss for the first half of about 4.8 billion yuan ($740 million), almost double that of ayear earlier, according to a filing late Monday night.</p>\n<p>Evergrande is struggling to calm the concerns of ratings agencies and investors. S&amp;P Global Ratings cut Evergrande by two levels to CCC last week, just four notches above the designation for defaulted borrowers. It’s the second downgrade by S&amp;P in less than two weeks and follows similar moves by Fitch and Moody’s Investors Services.</p>\n<p>The shares in the property management arm and the EV startup jumped in Hong Kong on Tuesday after areportthat Evergrande was looking at selling the assets.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Evergrande in Talks to Sell Stakes in EV, Property Services</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEvergrande in Talks to Sell Stakes in EV, Property Services\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-08-10 20:51 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-08-10/evergrande-in-talks-to-sell-stakes-in-ev-property-service-units><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>China Evergrande Groupsaid it’s in talks with investors on selling assets including part of the interests in China Evergrande New Energy Vehicle Group Ltd. and Evergrande Property Services Group Ltd.\n...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-08-10/evergrande-in-talks-to-sell-stakes-in-ev-property-service-units\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"03333":"中国恒大"},"source_url":"https://www.bloomberg.com/news/articles/2021-08-10/evergrande-in-talks-to-sell-stakes-in-ev-property-service-units","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1103417936","content_text":"China Evergrande Groupsaid it’s in talks with investors on selling assets including part of the interests in China Evergrande New Energy Vehicle Group Ltd. and Evergrande Property Services Group Ltd.\nThe discussions involve “several independent third party investors,” the company said in a statement to the Hong Kong exchange. No concrete plan or formal agreement has been determined or entered into, it said.\nThe troubled property giant has been offloading assets and listing units in an attempt to stave off a cash crunch. Evergrande’s equity and bond holders have been rattled in recent weeks by a slew of reports about wary banks and unpaid dues to suppliers. Last week, a Caixin report saying that creditor lawsuits against Evergrande would be consolidated triggered another slump in the developer’s bonds.\nPotential sources of future funding for Evergrande include placements for its electric vehicle and property management units, and initial public offerings for operations including its beverage business, FCB, and amusement park and tourism properties, Fitch Ratings said earlier.\nWhile the EV unit is one of its better valued assets, it reported a widening preliminary net loss for the first half of about 4.8 billion yuan ($740 million), almost double that of ayear earlier, according to a filing late Monday night.\nEvergrande is struggling to calm the concerns of ratings agencies and investors. S&P Global Ratings cut Evergrande by two levels to CCC last week, just four notches above the designation for defaulted borrowers. It’s the second downgrade by S&P in less than two weeks and follows similar moves by Fitch and Moody’s Investors Services.\nThe shares in the property management arm and the EV startup jumped in Hong Kong on Tuesday after areportthat Evergrande was looking at selling the assets.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5483867,"gmtCreate":1628600385142,"gmtModify":1663232181430,"authorId":3581678282566598,"author":{"id":3581678282566598,"authorId":3581678282566598,"name":"granola","avatar":"https://static.tigerbbs.com/794ef04b19a3c79578c403c50a016ac3","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":896434383,"type":1,"supId":0,"prevId":0,"content":"Here you go!","text":"Here you go!","html":"Here you go!"},{"id":5483874,"gmtCreate":1628600419814,"gmtModify":1663232180358,"authorId":3584939916187250,"author":{"id":3584939916187250,"authorId":3584939916187250,"name":"EAvenue","avatar":"https://static.tigerbbs.com/e3beb412a0aa565cfaac4f68f1721fd6","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":896434383,"type":1,"supId":0,"prevId":0,"content":"Hi","text":"Hi","html":"Hi"}],"langContent":"EN"},{"id":896438594,"gmtCreate":1628600071218,"gmtModify":1676529792215,"author":{"id":"3564197930660816","authorId":"3564197930660816","name":"carrotman","avatar":"https://static.tigerbbs.com/9b29e1032c7343cf14e78c210f93267f","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Nice","listText":"Nice","text":"Nice","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/896438594","repostId":1103417936,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":896431403,"gmtCreate":1628600028102,"gmtModify":1676529792190,"author":{"id":"3572655517065538","authorId":"3572655517065538","name":"Weijj","avatar":"https://static.tigerbbs.com/a20d2b1e1f188a79a0b6023a00c75703","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"??","listText":"??","text":"??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/896431403","repostId":1103417936,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":896433601,"gmtCreate":1628599963803,"gmtModify":1676529792150,"author":{"id":"3578783239633074","authorId":"3578783239633074","name":"Kenang","avatar":"https://static.tigerbbs.com/9b932623d314153a412ec6160f17873c","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like &amp; comment. Thanks","listText":"Pls like &amp; comment. Thanks","text":"Pls like & comment. Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":3,"repostSize":0,"link":"https://ttm.financial/post/896433601","repostId":1103417936,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5483850,"gmtCreate":1628600285476,"gmtModify":1663232181645,"authorId":3579779054030805,"author":{"id":3579779054030805,"authorId":3579779054030805,"name":"Yonghuilee","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":896433601,"type":1,"supId":0,"prevId":0,"content":"<u>commented</u>","text":"<u>commented</u>","html":"<u>commented</u>"},{"id":5483820,"gmtCreate":1628600040170,"gmtModify":1663232179833,"authorId":3572655517065538,"author":{"id":3572655517065538,"authorId":3572655517065538,"name":"Weijj","avatar":"https://static.tigerbbs.com/a20d2b1e1f188a79a0b6023a00c75703","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":896433601,"type":1,"supId":5483809,"prevId":0,"content":"??","text":"??","html":"??"},{"id":5483809,"gmtCreate":1628599978633,"gmtModify":1663232178738,"authorId":3578783239633074,"author":{"id":3578783239633074,"authorId":3578783239633074,"name":"Kenang","avatar":"https://static.tigerbbs.com/9b932623d314153a412ec6160f17873c","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":896433601,"type":1,"supId":0,"prevId":0,"content":"Ok","text":"Ok","html":"Ok"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":75,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}