The Chinese regulator accuses Evergrande of inflating its revenues by 71.76 billion euros between 2019 and 2020.

The Chinese regulator accuses Evergrande of inflating its revenues by 71.76 billion euros between 2019 and 2020.

Madrid, March 18 (European Press) –

The Chinese Securities Regulatory Commission on Monday accused Chinese real estate developer Evergrande and its founder, Hui Kayan, of inflating their income by more than $78 billion (71.76 billion euros) between 2019 and 2020.

As a result, the “Asian giant”'s regulator plans to impose a fine of 4.2 trillion yuan (536.8 million euros) on Hengda Real Estigues, Evergrande's business unit in mainland China, was collected in a document from the Shanghai and Shenzhen stock exchanges consulted by the Financial Times. “.

Evergrande, which has liabilities amounting to more than $300 billion (€276,006 million), was declared liquidated last January by a Hong Kong court, although the implications of this ruling for mainland China, where almost all of Evergrande's assets are located, are unknown. Still uncertain. .

Hengda's filing cited the regulator's initial ruling that the company overstated revenue by recognizing in advance in 2019 an increase of 214 billion yuan (27.352 billion euros), and inflating revenue by 350 billion yuan (44.734 billion euros) in 2019. 2020.

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