Evergrande Property Services (6666): CNY13.4bn of our money disappeared in 2021
Company announcement, 22-Mar-2022
Or more precisely: in reviewing the 2021 results, "it was found" that "security for third party pledge guarantees has been enforced by the relevant banks". The obvious questions are: why was the Company providing security for third-party borrowings, who is/are the third party/parties, and who are the "relevant banks"?. Secondly, why did it take so long to disclose this loss?

• Topics
  • Accounting problems

Blue River (0498) exits Evergrande Vehicle (0708) crash at HK$3.23/share
Company announcement, 4-Oct-2021
In its annual report at 31-Mar-2021, Blue River held the 18.29m shares at $57.80 with an unrealised gain of $850m, so it is taking a 94.4% loss from there, or $998m. The report stated that Blue River's investment "is for trading purpose and aims to realise the gain in the future subject to market conditions". Blue River is 28.53% owned by Oshidori (0622), which also exited Evergrande Vehicle last week. Blue River also sold smaller holdings in China Evergrande (3333) and Evergrande Property Services (6666).

• Orgs
  • Blue River Holdings Limited
  • China Evergrande Group
  • China Evergrande New Energy Vehicle Group Limited
  • Oshidori International Holdings Limited