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For example, in November 2021, Evergrande sold its stake in the streaming service provider HengTen Network Group for the equivalent of 273.5 million US dollars. This "gave" Evergrande a loss of the equivalent of 1.09 billion US dollars. Incidentally, the stake was sold at a 24 percent discount to the closing price at the time of the acquisition. As a result, HenTen's share price plummeted by 24 percent. In addition, Chinese authorities ordered Evergrande founder and chief executive Hui Ka Yan to sell some of his private assets - including high-end art, calligraphy and three properties - to compensate Chinese Evergrande bondholders. It is feared that this has led to unequal treatment of Evergrande creditors, as it is unclear whether creditors were given preferential treatment. "In this respect, it would have been best for Evergrande's international creditors if the group itself had taken action earlier and filed an insolvency petition with a provisional restructuring plan in accordance with the bankruptcy laws of the Cayman Islands," explains DMSA CEO Michael Ewy. The management of the Evergrande holding company has been guilty of delaying insolvency for some time now. From Dr. Metzler's perspective, there is virtually no hope for Evergrande's turnaround. "The restructuring analysis I have from Fitch Ratings - one of the three largest rating agencies in the world, where I started my career as a financial analyst years ago - assumes that Evergrande would be liquidated with a restructuring rate of zero to ten percent." That means creditors would get back a maximum of one-tenth of their invested capital. What's more: Evergrande is not the only one struggling at the moment. A number of other Chinese developers - such as Kaisa Group, Fantasia Holdings, Modern Land China, and Guangzhou R&F - are also having great difficulty refinancing. Some have also already experienced payment defaults. No wonder that Ewy and Dr. Metzler consider the insolvency of Evergrande and other Chinese property developers to be inevitable. In their wake, there would then likely be a host of other bankruptcies. "To avoid internal unrest, China would be forced to return to a hard communist line," concludes Dr. Metzler. This would ultimately imply that all of China's international debt of around 585 billion U.S. dollars would no longer be serviced and that equity investments by foreign investors of around 600 billion U.S. dollars would also have to be written off completely - with devastating consequences for the global banking system and the entire world economy. About Financial Market Partners Capital (FMPC) Consulting AG: Financial Market Partners Capital (FMPC) Consulting AG, is a private investment and advisory firm based in Ruggell, Liechtenstein. As a single family office, FMPC Consulting AG invests exclusively its own funds of its owner, the Metzler family. About the Evergrande investment of FMPC Consulting AG: FMPC Consulting AG holds 200 units of EVERRE 10 ? Bonds, April 11, 2024 (ISIN: XS19 8204 0641) with a total par value of US$200,000. These were purchased on November 01, 2021 for 50,000 US dollars via the house bank of FMPC Consulting AG and have since been held in custody at SIX Switzerland via the house bank in Liechtenstein. Already on November 10, 2021 an interest payment for this bond was missed. About DMSA Deutsche Markt Screening Agentur GmbH: DMSA Deutsche MarktScreening Agentur GmbH is an independent data service that collects and evaluates market-relevant information on companies, products and services. The research house, which has the same owner as FMPC Consulting AG, the Metzler family, sees itself as an advocate for consumers, private customers and private investors. For them, DMSA bundles important and decision-relevant information and prepares it in an easily understandable way. DMSA works with FMPC Consulting AG as needed. Press contact: Inga Oldewurtel Press Officer mailto: oldewurtel@prio-pr.de Tel.: +49 176 62 26 18 97 Responsible for the content: DMSA Deutsche Markt Screening Agentur GmbH Wichertstraße 13 10439 Berlin Germany Michael Ewy Managing Director http://www.dmsa-agentur.de ------------------------------------------------------------------- Az OTS internetes oldalán található hírek, közlemények, fotók a forrásmegjelöléssel (OTS) szabadon és korlátozás nélkül felhasználhatók. Továbbközlés esetén a közzétevő köteles az átvett anyagot tartalmának torzítása nélkül, félreérthetőséget, rosszindulatú következtetéseket kizáró, az eredeti szövegkörnyezetnek megfelelő módon feldolgozni és megjelentetni. Az OTS hírek nem képezik az MTI hírkiadás részét, az MTI által szó szerint továbbított tartalomért minden esetben a beadó a felelős. © Copyright MTI nonprofit Zrt. Az OTS szolgáltatással kapcsolatban további információt a (06-1) 441-9050 telefonszámon vagy a ots@mti.hu elektronikus levelező címen kaphat.