Evergrande Can't Produce Financial Report On Time

Evergrande unit Hengda unable to publish financial results by Aug 31

Property developer China Evergrande Group's 3333.HK main unit said on Wednesday that it was unable to disclose its six-month financial report by Aug. 31 because significant changes in its operation had added extra auditing work.

Hengda Real Estate Group Co, the developer's flagship onshore unit, also promised to publish its 2021 annual report as soon as possible, it said in a filing to the Shenzhen Stock Exchange.

In August Hong Kong's audit regulator initiated an inquiry into the financial statements of China Evergrande's property services unit and its former auditor after questions were raised following an investigation into seized deposits worth $2 billion.