Any evergrande buyers at this level?

Agree. Waiting for the kids to say “HL RX is not prestigious because they don’t advice debtors” lmao

I’d look into the historical impacts of Chinese gov consolidating corporations to become state institutions and their direct impact on debt and equity for those former corporations/now institutions. Although before, I would look into any Chinese RE-related catastrophes similar to evergrande and see what happened to them, and the result on their debt and equity. After this, look at historical impacts of Chinese government takeovers/consolidations on similar institutions such as Banks, etc. tied to the economic infrastructure of China. If Evergrande cannot fail, as I believe its too costly economically, it could produce a lovely buy point at .33 USD for common shares. If government rescues it, you should profit handsomely. Lastly, and probably most importantly, check to see the negative economic repercussions of an Evergrande collapse, and what would happen to the Chinese economy as a result. If it poses a substantial systematic risk and it is “too big to fail,” you should have a guiding point on what you’d want to do decision-wise.

I’ve given you the blueprint of where to look, and now you can make a better decision if you wanna invest. Up to you how you carry out your final decision. I think Evergrande will be consolidated into the state, most likely conclusion.

Evergrande is in trouble because the lines of credit that allowed it to sustain its overleveraged model have dried up suddenly. Lines of credit don't just evaporate unless you have strong signals: aka the CPC Central Committee deleting the entire private tutoring industry in late July, followed by a certain leader talking about "common prosperity" on Aug 17 and the CPC Publicity Department going after the entertainment industry on Sept 2, among many other actions.

Evergrande's famous Xu Jiayin resigned the same day as Xi Jinping's common prosperity speech, Aug 17. Literally two days later, Aug 19, the People's Bank and the Banking and Insurance Regulatory Commission had a talk with Evergrande. Providers of credit saw the writing on the wall and stopped extending credit to Evergrande. All this got confirmed by Ministry of Housing on August 31 which affirmed that "housing is for living, not for speculating", and afterwards Evergrande's issue eventually made it to headlines.

So in a word, Evergrande's problems are by design. The CPC did not "let this happen" so much as they are actually facilitating this process. When CPC decides to restrain or wipe out speculators, they do so. They wiped out speculators as one of their first acts as China's ruling party in 1949-50 using the police, they did so again in 2015, and now they're doing it yet again.