More Companies Delisted from HK Hang Seng

On July 11th, Hong Kong, Hang Seng Index announced a major adjustment in the Hang Seng Enterprise Index. It was announced that 9 Mainland Chinese companies were delisted from the Index. These companies include Shimao, Kaisa, Color Life, Sunac, Evergrande, Evergrande Property, Aoyuan, Aoyuan Health, and Huoyan Holdings. Apart from Huoyan Holdings, eight listed are real estate stocks.

 According to the Hang Seng Index, the delisting resulted from continuing suspension of aforementioned stocks and failed to release the 2021 annual report which had not given investors and share owners’ opportunity to evaluate operating conditions of these companies. The news echos Miles Guo’s revelation of China’s real estate market’s daunted future of collapsing. In Recent days, Communist China’s domestic real estate market plummeted sharply, and the collapse of real estate companies became inevitable. News started to break out since last year. Evergrande is about to go bankrupt, and the peer companies such as Sunac, Dangdai, Fantasia, Shimao, and Kaisa followed the same fate of downfall. They were unable to fulfill overdue US debt, and led to the suspension in US stock market, one after another.

 Real estate is the backbone of the China’s domestic economy, and viewed as a giant financial fraud in essence. The domestic economy is sliding towards collapsing, and the real estate is just the forefront of a series of catastrophic disasters. Sadly, the consequence will overwhelm innocent Chinese people in the end.

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Translator: OXV Translation Team – Shugen
Design&editor: HBamboo(昆仑竹)

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