Business
Running on empty: how Evergrande became the world’s most indebted property company – Sydney Morning Herald
For 25 years Evergrande built its empire on China’s rapid urbanisation. A newly mobile middle class needed units to live in,…
Evergrande broke all three lines. It had a liabilitytoasset ratio of more than 70 per cent; net debttoequity ratio of more than 100 per cent; and cash holdings to shortterm debt ratio of less than 100 per cent.
It had to sell properties quickly and cheaply…
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