The Downfall of Evergrande: A Timeline of Financial Turmoil

China Evergrande Group, once a top-selling developer, has faced a financial crisis since 2021. Delisted from the Hong Kong stock exchange in 2025, Evergrande's journey includes halted constructions, offshore debt restructuring, multiple investigations, and legal actions, culminating in liquidation after significant financial losses and asset sales.

China Evergrande Group, a once-dominant force in real estate, has been delisted from the Hong Kong stock exchange. The removal marks one of the largest by market value in recent times, as Evergrande struggled with a debt crisis that surfaced in 2021.

The timeline of events is marked by halted construction projects, missed bond payments, and significant asset losses. In August 2021, projects stagnated due to overdue payments, prompting government intervention. By late 2021, Evergrande defaulted on offshore bonds and began exploring restructuring options.

Years of financial mismanagement led to liquidation in 2024, with legal proceedings initiated to recover debts. Despite plans for debt restructuring, Evergrande's downfall resulted in significant financial losses and asset sales exceeding $255 million.

(With inputs from agencies.)