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CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED

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European fund giant Amundi says has $25 million China Evergrande exposure

09/17/2021 | 08:59am EDT
FILE PHOTO: The Amundi company logo is seen at their headquarters in Paris

LONDON (Reuters) - Europe's biggest asset manager Amundi's exposure to troubled Chinese property giant China Evergrade Group is currently $25 million, less than 10% of what it was earlier in the year, a spokesman for $2 trillion fund firm told Reuters on Friday.

EMAXX data, which provides details of funds' holdings based on their latest public disclosures, shows Amundi held around $300 million worth of Evergrande's international market bonds back in March, making it the biggest overall holder at that time.

Back then Evergrande's international bonds, which add up to nearly $20 billion in total, were worth around 90 cents on the dollar but have slumped to 25-30 cents this month as worries have mounted about its finances.

($1 = 0.8490 euros)

(Reporting by Marc Jones; Editing by Tom Arnold)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMUNDI -0.45% 78.05 Real-time Quote.17.66%
CHINA EVERGRANDE GROUP 4.26% 2.69 End-of-day quote.-81.95%
CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED 4.66% 3.59 End-of-day quote.-88.11%
EVERGRANDE PROPERTY SERVICES GROUP LIMITED 1.70% 4.79 End-of-day quote.-46.42%
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Analyst Recommendations on CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
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Financials
Sales 2020 15 487 M 2 426 M 2 426 M
Net income 2020 -7 394 M -1 158 M -1 158 M
Net Debt 2020 62 534 M 9 796 M 9 796 M
P/E ratio 2020 -35,5x
Yield 2020 -
Capitalization 28 804 M 4 512 M 4 512 M
EV / Sales 2019 20,0x
EV / Sales 2020 18,5x
Nbr of Employees 14 493
Free-Float 25,2%
Chart CHINA EVERGRANDE NEW ENERGY VEHICLE GROUP LIMITED
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China Evergrande New Energy Vehicle Group Limited Technical Analysis Chart | 708 | HK0000264595 | MarketScreener
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Managers and Directors
Da Rong Pan Chief Financial Officer
Shawn Siu Chairman
Shing Yim Chau Independent Non-Executive Director
Jian Wen Guo Independent Non-Executive Director
Wu Xie Independent Non-Executive Director