Chinese property firms listed in Hong Kong face a March 31 deadline to file annual results, their first audited financial statements since the industry’s liquidity crisis spread. Transparency and governance concerns have cropped up alongside worries about developers’ ability to repay debt following a record number of defaults last year.
Evergrande and its two Hong Kong-listed units this week joined a handful of Chinese developers warning they will probably miss deadlines for reporting audited 2021 results. Separately, its property-services unit said it was looking into how $2.1 billion of its deposits were used as security for pledge guarantees and seized by banks.
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