Sales of China Evergrande Plunged in 2021

Chinese indebted developer China Evergrande’s sales contracted last year as the real estate giants struggles to stay afloat.

A regulatory filing on Tuesday showed the company’s sales contracted totaling 443.02 billion-yuan last year which is down from 38.7% from the 723.25 billion yuan reported in 2020.

Evergrande also reported that it has applied for the resumption of its shares in Hong Kong on Tuesday. Its trading was halted on Monday at 9 a.m.

The company added it “will continue to actively maintain communication with creditors, strive to resolve risks and safeguard the legitimate rights and interests of all parties.”