Recently, Evergrande issued an announcement stating that it will be revoked due to failure to reach a guideline for resuming trading and failing to resume trading before July 28, 2025.

According to the announcement, Evergrande’s last listing date is August 22, and its listing status will be officially revoked on August 25, which also means that the Hong Kong Stock Exchange will permanently erase the code 03333.

Evergrande’s delisting is actually not surprising. Since its suspension on January 29, 2024, Evergrande has never met the conditions for resuming trading, which eventually triggered the “fast delisting” mechanism of the Hong Kong Stock Exchange.

However, delisting from Hong Kong stocks also means that Evergrande will never make up for the “big hole” dug back then.

According to data disclosed by the liquidator, the liquidator currently only controls more than 100 subsidiaries, with assets worth about HK$27 billion and actual cash amounts of only HK$2 billion. Faced with the declared debt of HK$350 billion, the repayment rate is less than 1%. In addition to a large number of creditors, Evergrande’s “bang collapse” back then also had a huge impact on the upstream and downstream of the entire real estate supply chain.

As of the end of 2022, China Evergrande’s total liabilities were 2437.4 billion yuan, of which trade accounts payable and other payables reached 1002.26 billion yuan. According to incomplete statistics, there were 26 A-share listed companies that had previously struck Evergrande, of which 20 had lost performance and 6 had dropped sharply that year. In addition, the 26 listed companies publicly set aside more than 35.3 billion yuan in bad debts on Evergrande, with a huge amount.