Evergrande Sells Guanghui Stake

Evergrande plans to raise $2.2 billion by selling a 41% stake in a Chinese investment company to Xenergy Group. Despite this, the company remains heavily indebted, with $120 billion in total debt. Evergrande owes $88 billion to banks and $35 billion to bondholders. To manage its debt, Evergrande is cutting apartment prices and persuading shareholders to waive debt payments. Additionally, it plans to spin off its property management unit for a stock listing in Hong Kong, potentially raising another $1 billion.

What is the purpose of Evergrande selling a 41% stake in Xinjiang Hey Industry Investment Group?

• To expand its business operations

• To raise $2.2 billion in cash

• To acquire new technology

• To enter a new market

Which group is Evergrande selling its stake to?

• Xenergy Group

• Hong Kong Investment Group

• Xinjiang Hey Industry

• Golden Week Enterprises

How much total debt does Evergrande have?

• $88 billion

• $35 billion

• $120 billion

• $2.2 billion

What strategy did Evergrande use during China's Golden Week to boost sales?

• Cut prices on apartments

• Offered free tours

• Launched new projects

• Increased marketing

What is Evergrande planning to spin off for a stock listing in Hong Kong?

• Its property management unit

• Its construction unit

• Its technology division

• Its retail operations