By Clarence Leong

Debt-laden China Evergrande Group's contracted sales in 2021 fell 39% to 443.02 billion yuan (US$69.70 billion), well below its CNY750 billion target.

The Chinese developer also said in a filing to the Hong Kong stock exchange Tuesday it had received an order from authorities in Danzhou, Hainan province, to demolish 39 buildings in its Ocean Flower Island project. It added that it will seek to resolve the issue in discussion with authorities.

China Evergrande also addressed concerns about its liquidity and said it will "actively maintain communication with creditors, strive to resolve risks and safeguard the legitimate rights and interests of all parties."

China Evergrande has applied to resume trading of its shares from 1 p.m. Hong Kong time.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

01-04-22 0008ET