2012-06-28

Citron says Evergrande is insolvent

Citron Research is pleased to present our analysis of Evergrande Real Estate Group. This research and analysis, compiled over several months, presents the conclusion that HK:3333 is essentially an insolvent company that has consistently presented fraudulent information to the investing public.

At the end of the report is a discussion of the Chairman's pet projects. This jarred my memory: there have been a lot of stories in the Chinese press lately about Evergrande's Guangzhou soccer club.

Star wants to attract more foreign soccer talents
After being voted the best player in Brazil in 2009 while playing for Fluminense, Conca signed a three-and-half-year transfer contract worth $10 million - a record at the time in the Chinese league - with Guangzhou Evergrande in July 2011.

Guangzhou Evergrande planning £325,000-a-week offer for Man Utd ace Rooney
Guangzhou Evergrande owner Xu Jia Ying has his sights set on bringing Manchester United star Wayne Rooney to China.

Chinese club preparing huge offer for Kaka
Spanish and Italian newspapers are speculating that Chinese football side Guangzhou Evergrande are preparing an offer for Real Madrid's star Brazilian midfielder Kaka.
Italian paper El Corriere dello Sport and Spain's Diario AS both report than Guanzhou are prepared to offer Kaka around 18 million euros a season on top of paying 25 million euros to Kaka's current club, Real Madrid, for his transfer, Xinhua reported.

From the report, he's a comparison of payroll and cost per win and per point. They are buying championships, but at a heavy cost. This is nowhere close to being Moneyball.


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