On the evening of July 17th, 2023, Evergrande’s official website released 3 financial reports, including the 2021 financial report, the 2022 mid-year report, and the annual report.
Everyone already knows that Evergrande is a mess, but no one expected it to be so bad: a net loss of US$120 billion in two years! Its liabilities are as high as RMB 2.447 trillion, or US$334 billion, a figure equal to the annual GDP of Hong Kong or Denmark’s 2022 GDP. Meanwhile, Evergrande has less than US$620 million in cash and equivalent assets in hand.
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