Debt-ridden real estate developer China Evergrande (3333) yesterday clarified that its recent promotions were only available for leftover stocks, adding that the group's operations were going well.
The preferential deals offered during the annual 5.11 House Buying Festival were limited to large units, bottom and top floors, shops and other products that had a single-building sales rate of more than 95 percent, according to the developer. No adjustments were made to the selling prices, discounts and payment methods of all conventional products, it added.
China Evergrande has continued to report funding shortages, and was reportedly investigated by mainland regulators regarding a transaction of more than 100 billion yuan (HK$121.29 billion) with Shengjing Bank (2066).
The group emphasized that the financial services carried out by the group and the bank are in compliance with the relevant national laws and regulations.
Although some companies delay payment of bills, the group attaches great importance to it and arranges payment promptly, it said, adding that the company has never been involved in a situation involving a late payment of loan interest or late return of principal over the past 25 years.
Evergrande's shares rose 3.15 percent to HK$11.78 yesterday.
China Evergrande chairman Hui Ka Yan.
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