In a recent report in our Entrepreneur Magazine, on March 31st, our leading companies
Evergrande (name)
Group (stock code: 03333.HK) held an earnings conference. At the conference
Evergrande (name)
Xia Haijun, Vice Chairman of the Board of Directors and President of the Group, unveiled the Company's debt reduction plan for the next three years. The specific targets are as follows: by June 30, 2021, interest-bearing liabilities will be reduced to less than 590 billion yuan; by June 30, 2022, they will be further reduced to less than 450 billion yuan; and by June 30, 2023, the final target will be less than 350 billion yuan. In response to the "three red lines", as they are often referred to in the industry.
Evergrande (name)
The Group has formulated corresponding solutions and plans to reduce its net debt ratio to below 100% by June 30, 2021, achieve a cash-to-short-debt ratio of more than 1 by December 31, 2021, and keep its gearing ratio below 70% by December 31, 2022. The Company is committed to achieving the targets on a yearly basis and ultimately meeting the regulatory requirements.
