2023 is an important year for Evergrande
Evergrande will pay back all types of debt
732 projects to resume in 2022
Maybe this is Evergrande China's New Year's prayer after Ruler Hui Ka Yan vows to fulfill the delivery of the house to the buyer and repay all debts.
He said in a letter to workers on New Year's Day, 2023 will be an important year for Evergrande to achieve it.
Hui believes that the hard work of all Evergrande employees in preparing training, restoring sales and operations, will help them complete projects and settle all kinds of debts.
The property developer, who has the highest debt in the world, has struggled to pay back debts from creditors and suppliers, causing many projects to be suspended.
According to the letter again, Hui explained that the firm had resumed coaching on all 732 projects nationwide by 2022.
Meanwhile, in its December filing, Evergrande said its operations were still facing difficulties due to its large liabilities, which were over $300 billion.
Evergrande now faces uncertainty as to whether a source for debt repayments can generate the expected value.
The firm aims to win creditor approval for its debt restructuring reserves by the end of February or early March, the firm's legal representative said in November.
