Evergrande’s shares rose after its chair ruled out asset fire sales and pledged to complete half its remaining projects over the rest of the year, as the world’s most indebted developer battled to deliver units to homebuyers.
Hui Ka Yan said in comments reported by state media that the developer would deliver 600,000 units in 2022, months after work at hundreds of the company’s projects stalled during a crisis that has engulfed China’s property sector.
The company’s shares were 3 per cent higher in afternoon trading in Hong Kong, having fallen almost 90 per cent over the past 12 months. The broader Hang Seng China Enterprises index of Chinese companies listed in Hong Kong was up 0.3 per cent.
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