“‘I firmly believe that Evergrande’s spirit of never admitting defeat and becoming stronger with frustration is the source of our strength to overcome all difficulties!’”
That was the chairman of troubled property group China Evergrande 3333,
The billionaire wished his colleagues a happy mid-autumn festival, thanking them for their hard work, especially those “still fighting on the front line of resuming work and production.”
The letter was posted in its entirety by several Chinese media sites.
Xu wrote that “through the joint efforts and hard work of leaders at all levels and all employees, Evergrande will surely walk out of the darkest moment as soon as possible,” and speed up its goal to resume production and complete construction of its buildings.
But the reception to those words was not exactly on par with what Churchill got with his wartime speeches.
“Dead Duck’s Mouth,” responded Weibo user “White clothes salty rice,” referring to a common Chinese proverb about someone being stubborn as a mule. User Xiao Xu said the “slogan is good, but the fastest runners are Xu Jiayin and Evergrande executive[s].” User “the lost Astronaut” simply said: “It seems really difficult.”
The company did not immediately respond to a query as to the authenticity of the letter.
Shares of Evergrande fell another 0.4% in Hong Kong on Tuesday, on the heels of a 10% drop that fueled a global stock-market rout Monday, with the U.S. benchmark S&P 500 SPX,
Read: Will Evergrande be China’s ‘Lehman moment’? Wall Street says no
While U.S. and European stocks SXXP,
Evergrande has so far missed payments to two of its bank creditors, Bloomberg reported on Tuesday.
Opinion: Evergrande crisis and the U.S. debt-ceiling showdown could give stock investors a buying opportunity