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Lulu Profile picture
Lulu
@luaddoil
life-long learner of business and investment, born practitioner of well-bing, cheerful explorer of life
Sep 22, 2021 • 14 tweets • 4 min read
Evergrande was a Fortune 500 real-estate developers in China, through its debt-fueled growth, quick turnover approach, and higher-than-market bid on land (bet on China's property price going up). It's on watchlist of the financial world and media.
Here's breakdown analysis: 1/It started from the background of Chinese property sector regulation change including the introduction of the 3 red lines a year ago:
- L/A < 70%
- net leverage < 100%
- cash to ST debt > 1