Evergrande to have initial restructuring plan before August

China Evergrande will unveil an initial restructuring plan by the end of July, the embattled developer said in a statement released Monday. 

The company said due to the pandemic and the ongoing independent investigation of its subsidiary Evergrande Property Management, it can't tell when the 2021 annual financial report will be released.

Trading of Evergrande shares will continue to be suspended until further notice, the company said.