President Evergrande Told Employees: ‘the Darkest Period’ Will Pass

Our 'darkest period' will pass, the head of Evergrande told employees. China's most debt real estate developer is on the brink of failure after many years promoting the scale and borrowing borrowers. Photo: Caixin Global. Evergrande boss said he hoped the investor It will soon appear from what he called the "darkest time" and pledged to deliver the houses they promised to buyers and other stakeholders. In a memo sent to the staff on something Three (21/9), aimed at the Mid-Autumn Festival in China, President Evergrande Hui Ka Yan said the company is facing unprecedented difficulties and their employees are facing challenges Seriously

. This 62-year-old founder tried to create an optimistic tone when he described how Evergrande's leaders at all levels are working all day and night to solve the company's problems And he thanked the sacrifice of their employees and their families. The 25-year-old company has built residential complexes in all provinces of China and sells many apartments they remain unfinished construction. Financial and profound troubles have made investors, employees, home buyers and suppliers worried
And the impact of this has begun to overflow to other parts of the Chinese economy. Listed stock price in Hong Kong of Evergrande has fallen to the lowest level for many years and US dollar bonds of the public The company recently traded at extremely "pain" - about 25 cents compared to the dollar. Foreign investors are waiting to see if Evergrande has made payments by a coupon for one of its dollar bonds on Thursday this week. The investor also owes contractors and houses Provide construction materials and people they have sold their products. The construction of Evergrande projects in many cities has stopped, raising the wave of opposition from those who pay for unfinished apartments. Hui, who has always avoided attention in the months Recently, on Tuesday said he was proud that Evergrande had a "invincible army, loyal and hardened, not complaining." "I am confident that the spirit never admitted the failure of people Evergrande will become stronger when the situation becomes difficult, and it is also the source of our strength to overcome all difficulties, "said President Hui written in the memo.

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