China Evergrande and Hengda Properties announced today that they will resume trading

On the evening of the 2nd, China Evergrande and Hengda Properties announced on the Hong Kong Stock Exchange that the company has applied to the Stock Exchange to resume trading at 9:00 am on October 3.

On September 28, China Evergrande announced on the Hong Kong Stock Exchange that the company had received a notice from relevant departments that Mr. Xu Jiayin, the executive director and chairperson of the board of directors of the company, had been taken compulsory measures according to law on suspicion of illegal crimes.

On the morning of September 28, Hengda’s listed companies China Evergrande, Hengda Automobile, and Hengda Property collectively suspended trading on the Hong Kong Stock Exchange.

On the afternoon of September 27, Hengda’s listed platform stock price suddenly fell. As of the close, China Hengda fell 19%, with a total market value of 4.20 billion Hong Kong dollars; Hengda Automobile fell 20%, with a total market value of 6.10 billion Hong Kong dollars; Hengda Property fell 14.5%, with a total market value of 6.40 billion Hong Kong dollars. The total market value of the three major platforms is only 16.70 billion Hong Kong dollars.

A criminal law expert said in an interview with reporters at the time that according to Evergrande Group’s announcement, the company should have received a precise notice, and the notice classified Xu Jiayin as "suspected of illegal crimes" and was subject to coercive measures. It is common sense to guess that in the case of notification by relevant departments, the coercive measures taken are likely to be different from the "residential surveillance" misreported by foreign media.

The above-mentioned criminal legal experts said that in the context of the early investigation of Hengda Real Estate by the China Securities Regulatory Commission and the criminal coercive measures taken by the public security department against Hengda Fortune Du and other suspected criminals, the result of Xu Jiayin’s suspected illegal crime should not surprise too many people. Public opinion has paid more attention to "when" to take action. Judging from the current public information, the issues involved in him are likely to be related to multiple crimes, which are very complicated and may take quite some time to clarify.

It is worth noting that Hengda Automobile, which was suspended at the same time as China Hengda and Hengda Property, did not resume trading at the same time. On the last trading day before the suspension of Hengda Automobile, the share price was HK $0.56/share, and the total market value was HK $6.073 billion.

Source | Yangcheng Evening News ? Yangchengpai Comprehensive Securities Times, 21st Century Economic Report, etc
Editor in Charge | Zheng Zongmin