Property developer China Evergrande Group announced on Tuesday that the Hong Kong Stock Exchange has decided to cancel its listing, effective Aug 25, and the company confirmed it will not apply for a review.

The announcement came after a letter was received from the bourse operator on Friday, stating that Evergrande “failed to fulfil any of the requirements” for resuming trading.

The final trading day will be Aug 22, with the delisting taking effect on Aug 25, bringing an end to its 16-year run as a Hong Kong-listed entity.

READ MORE: China regulator mulls lifetime ban on Evergrande founder

The company’s shares have been halted since Jan 29, 2024, the same day the Hong Kong High Court ordered its liquidation. Under the exchange’s rules, a company that remains suspended for 18 consecutive months faces removal.

Following the delisting, the appointed liquidators plan to give notice of material developments in the company’s liquidation, as appropriate, by publishing them on the liquidation information website.

The liquidators on Tuesday released the first progress report covering the past 18 months, which showed that they have taken control of more than 100 entities within the group, with assets under their direct management valued at around HK$27 billion ($3.5 billion).

In a separate development, property firm China South City Holdings Ltd was ordered into liquidation by the High Court of Hong Kong on Monday after failing to secure enough creditor support for its restructuring proposal. Trading in its shares was suspended on the same day.

The liquidation petition was filed in January by creditor Citicorp International, citing the company’s failure to repay $306 million in debt that reached maturity last April.

READ MORE: Evergrande winding-up lawsuit in HK adjourned to Nov 7

As of the end of 2024, China South City reported total liabilities of HK$60.9 billion, along with a net loss of nearly HK$9 billion for the year.  

Contact the writer at irisli@chinadailyhk.com