China’s largest real estate developers, China Evergrande (HK:) and Country Garden, are grappling with insolvency as they collectively shoulder a $500 billion debt. The crisis, which began in 2021 when Evergrande defaulted, has severely impacted China’s economy and shaken investor confidence.
Country Garden recently announced its inability to pay nearly $200 billion of debt, signaling a potential escalation of the crisis. Both companies are facing significant challenges, with Country Garden still having over 400,000 unfinished apartments that it sold. According to InvestingPro Data, Country Garden has a market capitalization of 216.51M USD and a P/E ratio of 9.55. The company’s revenue growth over the last twelve months (LTM2024.Q2) w…
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