BEIJING: China Evergrande Group has scrapped talks to offload a stake in its property-management arm as real estate sales plunged 97% during peak home-buying season, worsening its liquidity crisis on the eve of a dollar-bond deadline that could tip the company into default.
In statements to the Hong Kong exchange late Wednesday, Evergrande added that it had made no further progress on asset sales and may not be able to meet its financial obligations.
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