Debt-ridden Evergrande Group has sold its electric motor unit for 14.6 million yuan – a business that it spent 500 million yuan to buy, the Securities Times reported.
At the same time, China Aoyuan Group also recently announced that it had sold properties at a loss of HK$177 million to repay debt, and its stock price subsequently plummeted by more than 11%.
Meanwhile, Kaisa Group announced that its subsidiary Kaisa Securities would suspend the provision of securities services to customers who opened accounts with mainland Chinese identity cards or passports.
Read the full report: Securities Times
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