恒大退市,业主怎么办

Erinome: Hello dear friends, today we are going to talk about Evergrande, the big Chinese property company, being removed from the stock market. Enceladus, have you heard this news?

Enceladus: Oh yes! I saw it. Evergrande will officially leave the Hong Kong stock market on August 25th. That’s really sad… It was once called the "world’s biggest property developer," right?

Erinome: Totally! But now? Wow, after 4 years of trouble since 2021, it’s like a empty shell. Its debt is 2.4 trillion yuan, but cash is only 41.14 million Hong Kong dollars. That’s nothing compared to the debt!

Enceladus: Oh no! So what about the people who bought houses from Evergrande but haven’t got them yet? The news said there are about 300,000 such homeowners.

Erinome: That’s the big problem. They might lose both the house and their money. Let’s talk about what they can do first.

Enceladus: Okay. What’s the first step for these homeowners?

Erinome: They need to check their papers carefully. Like the contract when they bought the house—what time to deliver, quality rules, and what happens if Evergrande breaks the promise. Also collect payment receipts and the company’s licenses. These papers are super important for fighting for their rights.

Enceladus: Oh right, evidence is key. Then what? Just wait?

Erinome: No, they should work together! Form a group, like a homeowners’ committee. With more people, they can talk to Evergrande stronger, ask for a clear plan to finish the buildings and a timeline. Or even go to court together.

Enceladus: Group action is better than alone. But does the court help?

Erinome: The news says there’s a rule called "living rights first." If the homeowner can prove they bought the house to live in (not to resell), they might get priority. But they need to show that.

Enceladus: That’s good. What if they don’t know the law?

Erinome: Ask a lawyer! Get legal help. Lawyers can tell them their rights—like asking Evergrande to return money or pay for losses, or even ask the court to force Evergrande to finish the house.

Enceladus: Smart. What about the government? Does the government help?

Erinome: Yes! Many local governments are trying. Like some areas set up "stable funds" to help finish the buildings. Or find new companies to take over the projects. Homeowners should watch government notices closely.

Enceladus: But is the "finish the house" going well?

Erinome: Hmm, some projects are moving slow. Like Hohhot Evergrande Cultural Tourism City. They plan to deliver 2953 apartments in 2025, but only 450 workers. To finish on time, they need to build 6.5 apartments every day! That’s almost impossible.

Enceladus: Oh wow, that’s too hard. What about the houses that are already delivered? Are those homeowners safe?

Erinome: Not really. Some worry about the property management. Evergrande’s property company has 49.65% of its shares taken over. So services like cleaning or security might get worse. And some delivered houses have problems—like basement leaks or less green space. So they still protest.

Enceladus: That’s sad. What about the home loans? Can they stop paying if the house isn’t finished?

Erinome: No! The news says don’t stop paying without legal steps. If they stop, their credit record gets bad. They need to talk to the bank first, or get a court order to cancel the loan. Otherwise, it’s a big problem for their future.

Enceladus: Oh right, credit is important. So don’t act blindly.

Erinome: Exactly. Now, let’s talk about Evergrande’s other troubles. Like its car company—Evergrande Auto. It lost 20.254 billion yuan in the first half of 2024, cash only 129 million yuan. Now it’s in bankruptcy.

Enceladus: Oh no! So all that money invested in cars is gone. What about the land it bought?

Erinome: The government is taking back unused land. Like Nansha district took back 440,000 square meters of land from Evergrande Auto. It was bought for 590 million yuan in 2021 but left empty. Now it’s just荒地 (huangdi—wasteland).

Enceladus: That’s a waste. How does this affect the property industry?

Erinome: More companies might be delisted. From 2018 to 2025, 167 companies were forced to leave the Hong Kong stock market, over 30% are property companies. So only good companies survive. Like Greentown China—they sold 500 million US dollars bonds in 2025, with 8.45% interest. But Evergrande’s bonds have over 20% interest, no one wants to buy.

Enceladus: So big split—good companies get money, bad ones can’t. What about the shareholders? Like Tencent?

Erinome: Oh, Tencent invested 2.3 billion Hong Kong dollars in 2014, now the shares are worth only 100 million. So sad. A shareholder joked: "Buying Evergrande stock is worse than buying cabbage—at least cabbage can be eaten."

Enceladus: That’s funny but sad. What about the people who lent money to Evergrande (creditors)?