Full title (I shortened to 80 characters): Andrew Left Was Banned From Trading in Hong Kong for Saying China Evergrande Group Was Insolvent. Was He Right All Along?
The real estate firm — which Left targeted in a 2012 short report — now faces a reckoning on its $300 billion in liabilities.
Liabilities of roughly $300B on the books only, but there is also their submarine debt which is said to be comparable to what they already have on the books, if not more.
They also practiced Enron style liabilities as assets disguise, so their real total asset-to-liability ratio would be even lower.
You are aware that the mainland's new HK security laws allow extraction out of HK for anyone who "threatens national security", i.e. goes against the CCP and their system. [1]
Evergrande has been in trouble for the past half year at least, it's astounding someone's only making a report now, everyone, I mean, EVERYONE, knows the chance of Evergrande would go insolvent is high.
Am I reading this correctly... this is from 2012? It's incredible to me how long it takes for reports like this to be seen as true by the larger investor community.
https://www.globalcapital.com/article/28mu9tpjsiu015o44foxt/...