Evergrande Property Services plays a key role in asset recovery for creditors, and the firm is being given “the highest priority” in terms of attention, the liquidators said on Tuesday. Its HK$9 billion (US$1.1 billion) market value and 12.8 billion yuan (US$1.8 billion) in revenue from last year “represents a very substantial potential source of value,” they added.
The firm reported net income of 1 billion yuan in 2024, according to its annual report. It had 3,000 projects under the operation.
Still, any sale faces no shortage of hurdles. Shares in the unit have plummeted about 96 per cent from a peak in 2021 and have traded as a penny stock for several years now. The company said the liquidation of its parent, China Evergrande Group, has weighed on brand perception, market expansion and project operations.