Citron Research says Evergrande (HKG:3333) insolvent

   Date:2012-06-21

Evergrande Real Estate (HKG:3333) "is insolvent" and the company's pro-forma equity is negative RMB36 billion, Citron Research says in a 57-page report, raising fraudulent accounting issues of the developer.

Evergrande closed midday at HK$3.7, down 17.4%.

 

Source:chinesestock.org

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