Evergrande Joins China Developers Set to Miss Earnings Deadline
- Companies are blaming Covid outbreak for audit disruptions
- Chinese builders face transparency concerns amid cash crunch
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China Evergrande Group joined a handful of Chinese developers to warn they will probably miss deadlines for reporting audited 2021 results this month.
Evergrande and its two Hong Kong-listed units expect to delay publishing the results by March 31 because audit work hasn’t been completed, a stock exchange filing showed Tuesday. Sunac China Holdings Ltd. and Shimao Group Holdings Ltd. issued similar statements Monday night.