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Why Did Evergrand Go Bankrupt: Financial Statement Analysis

In: Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024)

Author

Listed:
  • Yanyi Liu

    (Bachuan International Education)

Abstract

On January 29, 2024, Evergrande, a former Chinese real estate giant, officially declared bankruptcy. People unfamiliar with the complete story may have doubts about it and want to know the reasons behind it, so the research will be on why Evergrand will go bankrupt. This research will try to explore the answer to this question by analyzing the internal behaviour of the company and comparing data, including profitability, solvency and liquidity, efficiency and investment ratios. The conclusion is that Evergrande’s governance and PwC’s negligence led to Evergrand’s ultimate bankruptcy. The significance and importance of this research are to warn other real estate companies and even all companies in the market that good management must be carried out, internal control mechanisms must be strengthened, and financial cheating must be prevented by auditing institutions; regulatory authorities strengthen their scrutiny; enhance corporate social responsibility and keep consumers and investors’ rights and interests to improve the sustainable developments of the whole society.

Suggested Citation

  • Yanyi Liu, 2025. "Why Did Evergrand Go Bankrupt: Financial Statement Analysis," Advances in Economics, Business and Management Research, in: Junfeng Lu (ed.), Proceedings of the International Workshop on Navigating the Digital Business Frontier for Sustainable Financial Innovation (ICDEBA 2024), pages 418-425, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-652-9_44
    DOI: 10.2991/978-94-6463-652-9_44
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