Evergrande Property Services: RMB13.4bn of pledged deposits, an investigation and a sale after parent's liquidation
Evergrande Property Services: RMB13.4bn of pledged deposits, an investigation and a sale after parent's liquidation: a public-record watch file compiled by Falling Shares Intelligence from filings and exchange disclosures, as of 2026-11-09. In March 2022 the company said banks had enforced about RMB13.4bn of its deposits that had been pledged as security for third-party guarantees; trading was suspended on 21 March 2022 and an independent investigation committee was set up.
From the 2022 discovery that banks had enforced RMB13.4bn of the company's deposits to its parent's liquidation and an October 2026 agreement to sell a controlling stake: what the record shows.
Falling Shares Intelligence, Edited by Wung Thomas, Editor-in-Chief. As of .
Summary
- In March 2022 the company said banks had enforced about RMB13.4bn of its deposits that had been pledged as security for third-party guarantees; trading was suspended on 21 March 2022 and an independent investigation committee was set up.
- In July 2022 China Evergrande said a preliminary probe found loans secured by the pledges were passed to the group through third parties, and its chief executive and chief financial officer resigned.
- Trading resumed in August 2023; the parent was placed in liquidation in 2024.
- In October 2026 the parent's liquidators agreed to sell a controlling stake to PAG for about HK$4bn after an earlier sale attempt collapsed in June 2026.
Key figures
| Deposits enforced by banks | about RMB13.4bn (Disclosed 21-22 Mar 2022; about US$2.1bn) |
|---|---|
| Trading halt (first) | 21 Mar 2022 - Aug 2023 (About 16 months, per SCMP headline) |
| Controlling-stake sale to PAG | about HK$4bn (Announced 30 Oct 2026; another report cites HK$4.03bn) |
The pledged deposits and the investigation
Banks enforce RMB13.4bn of deposits
Evergrande Property Services said it found during review of its 2021 accounts that about RMB13.4bn of its deposits, pledged as security for third-party guarantees, had been enforced by banks. It said its results would be delayed and trading in the company and two sister companies was halted from 21 March 2022. (21-22 Mar 2022)
Independent investigation committee established
The company said it would set up an independent investigation committee and appoint outside experts to examine the pledge guarantees. (Mar 2022)
Preliminary findings: loans passed to the parent group
China Evergrande said a preliminary internal probe found that loans secured by three sets of the unit's deposits were moved to the group through third parties and used for general operations. Its chief executive and chief financial officer resigned over their involvement, and the group said it would negotiate a repayment schedule mainly by transferring group assets to the unit. (22 Jul 2022)
Parent's committee: directors fell below standards
Malay Mail, reporting a February 2023 announcement, said China Evergrande's independent committee concluded that its directors fell below expected standards by being involved in diverting loans secured by the unit's deposits to the group, and that some employees failed to exercise independent judgement. The committee barred three former senior officials from returning to their posts, and the parent said it was discussing a proposal to repay the funds. (15 Feb 2023)
Trading resumption
Trading resumes after the investigation report
A company filing dated 2 August 2023 states that the independent investigation report was obtained and assessed and that resumption guidance was fulfilled. SCMP's headline reports the stock resumed trading after a 16-month halt and lost half its value. (Aug 2023)
Fallout from the parent's liquidation and sale of control
Parent in liquidation
Malay Mail reported that China Evergrande's liquidation began in 2024, that the court-appointed liquidators are running it, and that less than 1% of about US$46bn of creditor claims had been claimed as of September 2026. (2024 - Oct 2026)
Liquidators review bids
In a monthly update under Rule 3.7 of the Takeovers Code, the company said the liquidators were reviewing non-binding offers received in January 2026 and talking to selected bidders. No binding agreement had been signed, and the board said the deal might not happen. (11 Mar 2026)
Sale talks collapse
Caixin reported that talks to sell a controlling stake ended because the liquidators failed to reach a formal agreement with a prospective buyer. The shares fell 23.5% to HK$0.78. (25 Jun 2026)
Agreement to sell controlling stake to PAG
Malay Mail reported that the liquidators agreed in a stock exchange filing to sell a majority stake to PAG for about HK$4bn (US$514m), and that PAG plans to keep the company listed in Hong Kong without major operational changes. SCMP's headline puts the price at US$513m for the controlling stake. (30 Oct 2026)
Standard
This file compiles exchange filings, company statements and published reporting about Evergrande Property Services Group Limited. Allegations are attributed to those who made them. An investigation is not a charge, a charge is not a finding, and nothing here is a finding of wrongdoing unless a competent authority has made one. The findings below on how the pledged deposits were used are those of the company's and its parent's own investigation committees, as reported, not of a regulator or court. Individuals are not named unless an official document names them and they are central; otherwise roles are used. This is news coverage for information only, not investment advice.
Right of reply
Evergrande Property Services Group Limited, and anyone named in a record cited here, can send corrections or comments to info@fallingshares.com (or directly to the Editor-in-Chief, Wung Thomas, at wungthomas@fallingshares.com). Material responses will be published alongside the relevant entry.