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Evergrande Property Services (6666): CNY13.4bn of our money disappeared in 2021
Company announcement, 22-Mar-2022
Or more precisely: in reviewing the 2021 results, "it was found" that "security for third party pledge guarantees has been enforced by the relevant banks". The obvious questions are: why was the Company providing security for third-party borrowings, who is/are the third party/parties, and who are the "relevant banks"?. Secondly, why did it take so long to disclose this loss?
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