Found this on halfchan:
https://www.reuters.com/markets/europe/china-evergrande-shares-halt-trading-2022-01-03
Yes, and used the loans that they took against those buildings to buy other properties in Vancouver, San Fran, and Los Angeles, amongst others. Massive hide-the-weenie and a pump and dump on CRE values in some markets. Hide-the-weenie is very common in construction companies but fails when you don't have that next new project to shift your cost to. Ran out of runway.