China Evergrande sales tumbled 38.7% in 2021

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Embattled property developer China Evergrande Group said its contracted sales reached 443 billion yuan in 2021 and contracted sales measured by floor space reached 54.27 million square meters.

That’s down 38.7% from the 723.25 billion yuan of contracted sales in 2020.

Evergrande will maintain active communications with bondholders about its liquidity condition and make effort to resolve risks and safeguard legal rights of related parties, it said.

Evergrande shares resumed trading in Hong Kong on Tuesday afternoon after being halted since Monday morning.Shares have plunged more than 88% over the last 250 trading days. The company missed payments to creditors in December, Fitch Ratings said, sending the developer into default.

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