Evergrande was working on a restructuring plan according to CEO Siu Shawn

The long-awaited communication came against the backdrop of Beijing tightening control over the property developer, while taking measures to stabilise China’s crisis-hit property sector.

But some bondholders said they were disappointed by the 25-minute call with creditors, which included prepared answers to questions, saying it lacked insight on Evergrande’s plans.

Evergrande’s newly-appointed executive director Siu Shawn, who is also chairman of Evergrande New Energy Vehicle Group Ltd, said on the call with creditors, according to Reuters, that the group was working on a comprehensive restructuring plan.