(Yicai Global) March 22 -- Creditors of China Evergrande Group anticipate the troubled real estate giant's debt restructuring plan to be revealed as soon as this week while the firm and two of its listed units have postponed the release of their 2021 financial reports.

China Evergrande Group [HKG: 3333], Evergrande Property Services Group [HKG: 6666], and Evergrande New Energy Vehicle Group [HKG: 0708] will be unable to complete their audits on schedule to release their annual earnings reports by March 31 as required by the Hong Kong Stock Exchange, the three said in separate statements today.

The Shenzhen-based property giant is working out a plan that could turn out to be the largest debt restructuring for a Chinese company. Market participants are expecting the roadmap to come out as early as this week because China Evergrande Group said on March 17 that it is planning to hold a bondholders' meeting soon even though the firm said early this year that the refinancing deadline is within six months.

The delay in showing the three companies' 2021 business performance was caused by significant changes in their operating conditions since the second half of last year, as well as the impact of the Covid-19 epidemic, they said. Trading of the firms' shares has been suspended since yesterday.

The conglomerate that has sought new growth from electric vehicles had CNY2 trillion (USD310 billion) in liabilities and CNY576 billion (USD90.5 billion) in interest-bearing debt as of June 30, 2021, according to information it disclosed earlier.

Preparing to reveal the results has unearthed some unwanted secrets. The property management unit, Evergrande Property Services Group, said it will set up an investigation committee to probe into CNY13.4 billion (USD2.1 billion) of deposits that had been used as security for pledge guarantees. The collateral for loans could be seized by banks.

Editor: Emmi Laine, Xiao Yi