Hong Kong Stock Market News | EVERGRANDE's stock fell more than 18% at one point, and the liquidation hearing will be held today.

Evergrande's stock price once fell more than 18%, as of the time of writing, it has fallen 12.62% to HKD 0.18, with a turnover of HKD 3.9702 million. On the news front, the Hong Kong High Court held a hearing today on Evergrande's liquidation application and regulatory order. It is understood that such a regulatory order means that the court will oversee the liquidation process, which may include the appointment of a liquidator. Industry insiders analyze that according to the usual judgment process, if Evergrande cannot propose a solution acceptable to the court and creditors, it may face bankruptcy. Data shows that as of June 30, 2023, Evergrande's main revenue was approximately CNY 128.18 billion, with a total net loss of CNY 39.25 billion. Evergrande's cash and cash equivalents are approximately CNY 4.047 billion. The total assets are CNY 1.744 trillion, of which current assets are CNY 1.5785 trillion, and total liabilities are CNY 2.3882 trillion.