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China's Yonggao hits 19-mth low, vows to sue Evergrande over unpaid bills

Reuters2021-08-25

** Shares of Shenzhen-listed piping supplier fall as much as 9.9% to 5.09 yuan, the lowest since January 2020

** Stock set for biggest daily pct decline since February 2020, and on track for second session of losses

** Debt-laden developer China Evergrande Group has failed to pay some overdue bills, Yonggao 002641.SZ> said, in latest sign of a cash crunch at the teetering builder

** In an exchange filing, Yonggao said it is owed 478 mln yuan ($73.8 mln) in commercial bills, of which 195 mln yuan is overdue; it added it could sue the developer and has stopped deliveries since May

** Evergrande did not immediately respond to a Reuters request for comment

** Shares of China Evergrande fall 2.2% to HK$4.38

** China's blue-chip CSI300 index slips 0.1%

** Hong Kong Hang Seng sub-index tracking property firms eases 0.4% and Hang Seng Composite Index tracking properties and construction stocks slips 0.01%

** Hang Seng China Enterprises Index declines 0.6% and benchmark index slides 0.4%

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BullishKing
·2021-08-25
Aiyo...
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GucciBoy
·2021-08-25
Follow me for free trade updates and analysis daily!
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gstrader
·2021-08-25
Nice
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- Andersonkana:
  nice
  2021-08-25
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Jacjacjacjac
·2021-08-25
Good
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