Evergrande’s sales in 2021 fell by nearly 40 percent, and the crisis is still brewing. At the beginning of 2022, Evergrande withdrew its lease and moved out of its Shenzhen headquarters. Evergrande faces huge debt maturities in 2022, including a total of $3.5 billion in bonds due in March and April. At present, Evergrande is negotiating with creditors to postpone the payment of a maturing domestic bond for six months.
On Jan. 10, 2022, reporters from Brokerage China, a Chinese media outlet, visited the headquarters of Evergrande in Shenzhen and found that one of the two “Evergrande Group” advertising signs originally on the building had almost been removed. The interior of the building was empty.
