© Reuters. The corporate emblem is seen on the headquarters of China Evergrande Group in Shenzhen, Guangdong province, China September 26, 2021. REUTERS/Aly Track
HONG KONG (Reuters) – Shares of China Evergrande’s electrical automotive unit China Evergrande New Power Car Group plunged as a lot as 23% on Monday after it warned it confronted an unsure future except it bought a swift injection of money and after it mentioned it won’t proceed with plans to problem shares.
The warning after the market closed on Friday was the clearest signal but that the property developer’s liquidity disaster is worsening in different elements of its enterprise.
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