HONG KONG – Debt-ridden Chinese property developer giant Evergrande on Tuesday warned investors to “exercise caution” as the group announced it would delay the release of the results of a 2021 audit a day after halting trade in Hong Kong.
Beijing’s drive to curb excessive debt in the real estate sector has embroiled Evergrande, one of the country’s largest developers, which has struggled after racking up $300 billion in liabilities.
On Tuesday, a day after the company announced a halt in trading, it said it would not be able to publish its 2021 audited results by the end of the March as Hong Kong’s listing rules require.
“Due to the drastic changes in the operational…
