Recently, China's Evergrande Group has suffered multiple blows as if it had suffered an undeserved disaster, and the situation is worrisome. In the capital market, the stock price is like a roller coaster, plummeting in just one week, the market value evaporated up to 66.2 billion; and in the field of soccer, the Guangzhou team in the AFC Champions League lost in a row, hitting the biggest defeat in the team's history, which makes people sigh with sadness.
On June 29, the news about Evergrande's significant decline in liabilities exploded in the media, and the liabilities fell to about 570 billion yuan, realizing the commitment of the beginning of the month, "the red line becomes green". On the same day, Evergrande Sina microblogging released the active parking system video, Evergrande car manufacturing has become a hot topic again.
However, these good news did not boost investor confidence. Since June 30 to July 8, in just one week, Evergrande shares fell continuously, from 10.12 yuan per share to 9.62 yuan per share:
On July 6, shares fell 3.98% to close at $10.12 per share.
On July 2, shares fell 0.59% to close at $10.06 per share.
On July 5, shares fell 0.2% to close at $10.04 per share.
On July 6, shares fell 0.7% to close at $9.97 per share.
On July 7, the stock fell 1% to close at $9.87 per share.
On July 8, shares fell 2.53% to close at $9.62 per share.
Evergrande Total Market Capitalization Comparison (Source: Flush)
In terms of market capitalization, the total market value at the close of June 30 was $134.06 billion, and the total market value at the close of July 8 was $127.44 billion, evaporating $6.62 billion in market value in a week.
Guangzhou suffered repeated defeats in the AFC Champions League, losing 0:5 to Sakura Osaka on July 6, losing five consecutive games in the group stage and conceding 12 goals in five matches, the biggest defeat in the team's history.
In the past, Guangzhou Evergrande had a moment of glory, won the Chinese Super League 8 consecutive titles, the Asian Championship double crown, but now suffered a Waterloo, successive blows, saddening.
There is no denying that Evergrande is currently facing unprecedented difficulties, and the double blow of the stock and the ball game is undoubtedly adding insult to injury. Although the ball game more or less with a certain degree of chance, but the decline in stock prices at least show that investors on the prospects of Evergrande pessimistic attitude, the market bearish mood is strong. Perhaps, at this time, the most need is Evergrande can come up with decisive solutions to restore market confidence. Perhaps, Mr. Xu knows this better than anyone else ......
