Evergrande fined RMB 4.18 billion for revenue fraud
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On Friday, the securities regulator (CSRC) announced an RMB 4.175 billion fine on Hengda Real Estate, Evergrande’s primary onshore unit, for inflating its revenue and issuing bonds based on the fabricated figures.
The fine reflects 20% of the unit’s fraudulent bond issuance from 2020-2021, the maxi...