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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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WATCH: Evergrande and other Chinese developers warn will probably miss deadlines for reporting audited 2021 results. Rebecca Choong Wilkins reports.Source: Bloomberg
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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.