Evergrande's liabilities, depleted coffers raise business viability … – Reuters

HONG KONG, July 18 (Reuters) – China Evergrande Group’s (3333.HK) huge liabilities and diminishing cash disclosed in its long-overdue reports for the past two years raises questions about the viability of its restructuring plan and operations, creditors and analysts said.

A comment from Evergrande’s auditor that it did not express an opinion on the reports due to material uncertainties over the embattled property developer’s ability to continue as a going concern has further stoked worries, they added.

“The financial statements provide little evidence the group can normalise operations after a debt restructure,” said Charles Macgregor, head of Asia of Lucror Analytics.

Evergrande slipped into a liquidity crisis in mid-2021. With one of t…

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