Evergrande: Real estate giant moves from Shenzhen head office to cut costs - BBC News
Cash-strapped Chinese real estate giant Evergrande has moved out of its Shenzhen headquarters to cut costs.
Evergrande said it had moved to a property that it owns, but that it was still in the same city."In order to save costs, the company has gone through the lease cancellation procedures for Houhai Excellence Center in December 2021 and moved to its own property in Shenzhen," Evergrande said in a statement on its website.Evergrande's Hong Kong-listed shares have lost almost 90% of their value in the last year as investors became increasingly concerned that it could be close to collapse.But the company did say in the statement to the Hong Kong Stock Exchange that it was "in discussions with certain potential purchasers and may consider disposing of certain properties if the terms and conditions are appropriate in order to reduce the indebtedness of the Group".Evergrande shares up as Hong Kong trading resumes?Debt-laden Evergrande suspends shares in Hong Kong!How China is trying to limit the Evergrande crisis.