Zhongyu group: investing in Evergrande notes and Evergrande auto shares will produce significant losses
Cailian, October 7 - Zhongyu group announced on the Hong Kong stock exchange that it is expected that the investment in Evergrande group's preferred notes and Evergrande Automobile Shares will cause "significant losses" in the six-month interim results as of September 30. For the changes in the fair value of Evergrande notes and Evergrande automobile shares, unrealized losses of about US $135 million and US $296 million will be recorded respectively. The company will announce its interim results in late November. After the sale of Evergrande's shares on October 5, the remaining 10 million Evergrande's shares were sold on the open market at an average of HK $3.35 per share; So far, it no longer holds any shares in Evergrande motor.
This text is a result of machine translation.
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