(Hong Kong Comprehensive News) Xu Jiayin, the founder of China Evergrande Group, has been adopted by Chinese officials for suspected illegal crimes.
China Evergrande Group issued an announcement on the Hong Kong Stock Exchange on the evening of Thursday (September 28) stating that receiving news from relevant departments, Xu Jiayin, executive director and chairman of the board of directors, had been taken for illegal crimes.
According to the announcement, the "Evergrande" stock that has been suspended on the morning will continue to suspend trading until it will be notified separately.
This paper announcement has been authentic about the recently controlled by Xu Jiayin.Bloomberg Society quoted people familiar with the matter on Wednesday (September 27) that Xu Jiayin had been controlled by the police and was monitoring and living at the designated place.
China Internet Media "Observer.com" also posted on the official Weibo on the same day that there were people close to Evergrande confirmed the information that Xu Jiayin was taken away by the police, saying that "things happened a few days ago" andIt is revealed that Xu Jiayin was designated to surveillance and lived in a place in Beijing.
Huaxia Times also quoted people familiar with the matter on Wednesday that Xu Jiayin was absent from the group's recent two routine meetings, including a regular meeting that he should have hosted.The person familiar with the matter also said that the Xu Jiayin had a voice in the group on September 13, requiring localities to urge to solve the issue of project restrictions.
After the news of Xu Jiayin's control, the Hong Kong stocks "Evergrande" shares diving collectively on Wednesday afternoon. Among them, Evergrande fell more than 13.9%, Evergrande Automobile fell 21.4%, and Evergrande property fell more than 11%.The above three stocks have been temporarily suspended from 9 am on Thursday.
Before Xu Jiayin, many current and former executives of Evergrande Group and its subsidiaries have been reported.According to Caixin.com, Pan Darong, former chief financial officer of Evergrande Group, has been detained recently, and former president Xia Haijun was controlled by the relevant departments in mid -2022.
The 21st Century Economic Herald quoted the "compulsory measures" adopted by the relevant departments on Thursday that the "compulsory measures" adopted by relevant departments are likely to be different from the rumored "surveillance and residence".The expert also pointed out that from the current public information, the problems involved in Xu Jiayin may be related to multiple crimes and are very complicated, and it may take a considerable period of time to clarify.
Report also quoted a senior partner of a cross -border restructuring analysis, analyzing that the overseas debt reorganization of Evergrande Group may face major variables because of Xu Jiayin and some executives suspected of illegal crimes.
Reuters on Tuesday (September 26) has quoted people familiar with the matter. If Evergrande cannot submit a new debt restructuring plan before the end of the next month, some overseas creditor plans to join the liquidation to sign up.
Evergrande Group, which detonated the crisis of China's real estate industry this round, appeared in December 2021 for the first time in US dollar debt defaults.According to China Evergrande's financial report in the first half of the year, as of June 30, the total liabilities of the group reached 238.82 trillion yuan (S $ 447.6 billion).
