China Evergrande Group Accused of Falsely Inflating Revenue

By
Elena Rossi
1 min read
⚠️ Heads up: this article is from our "experimental era" — a beautiful mess of enthusiasm ✨, caffeine ☕, and user-submitted chaos 🤹. We kept it because it’s part of our journey 🛤️ (and hey, everyone has awkward teenage years 😅).

China Evergrande Group, the central figure in China’s real estate crisis, has been accused of inflating revenue by more than $78 billion in the two years before its default. The company's onshore unit, Hengda Real Estate Group, reportedly boosted its 2019 income by $29.7 billion and another $48.3 billion in 2020 by recognizing sales in advance. This revelation came through a filing on Monday, citing the China Securities Regulatory Commission. These findings shed light on the severity of Evergrande's financial practices and the potential impact on China's real estate market.

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