Chinese real estate giant crocodile, Hengda UniversityXu Jiayin, the founder of the group and the former richest man in China, fell.
China Evergrande issued an announcement on the Hong Kong Stock Exchange on the evening of Thursday (September 28) that received news from the relevant departments, Xu Jiayin, the company's executive director and chairman of the board of directorsEssence
For many people who are concerned about Evergrande's crisis, it is not unexpected to control Xu Jiayin in China, but sooner or later.The group's paper announcement is just a few days of rumors that have made the boots finally fall.
The First Financial subsequently quoted people familiar with the matter and revealed that the core member of Evergrande who has been taken away in the near future also includes Xu Jiayin, the second son of Xu Jiayin, who has led Evergrande's wealth.In accordance with a public executive who was previously taken away, the official investigation of the Chinese official on the Evergrande Department has obviously launched a comprehensive launch.
Since the news of the control of Xu Jiayin's control, he and Evergrande Group have lived on the Sina Weibo hot search list, becoming the topic that countless people and Chinese netizens are most concerned aboutEssenceThe Chinese media also broke out that Xu Jiayin cash out 50 billion yuan (RMB, the same below, about S $ 9.3 billion) through family dividends, set up a high trust fund for his son, divorced his wife and transferred property such as "show operations".The last bottom pants of the former charity.
From the factory worker to the richest man in China
The first half of Xu Jiayin is undoubtedly an inspirational story.
According to the biographical biography published in 2017, Evergrande Xujiayin: suffering is my precious wealth. Xu Jiayin was born on October 9, 1958 in a small village in a small village in Taikang County, Henan Province.When Xu Jiayin was only eight months old, his mother had no money to cure the illness. He grew up with his father and grandma since he was a child.In order to change his living conditions, he sold lime when he was in middle school and sold apples when he went to college.
The second year of the college entrance examination resumed (1978), Xu Jiayin was admitted to Wuhan Iron and Steel College (now Wuhan University of Science and Technology). After graduation, he entered the work of Wuyang Iron and Steel Company and soon became the director of the workshop.In 1992, Deng Xiaoping made a speech in the south tour, re -ignition the enthusiasm of reform and opening up. Xu Jiayin also chose to resign from south to Shenzhen.
After the Xu family seal was printed to Shenzhen, they joined the Zhongda Group and assisted the boss to create a branch to enter the Guangzhou real estate market. Howevercompany.
Evergrande won the first land in Guangzhou in 1997 to build the first project "Golden Garden" through the form of bidding and hanging, and opened it at a loss price of 2,800 yuan per square meter in the first phase.It was snapped up in two hours, and the sales reached 80 million yuan, which became famous in the World War I.In 1999, Evergrande Real Estate became the top 10 local real estate developers in Guangzhou; since 2000, it has expanded in Guangdong Province. In 2006, it has ranked among the top 20 housing companies in China.
In the next 10 years, Evergrande continued to expand rapidly. After the second attempt in 2009, it was successfully listed on the Hong Kong Stock Exchange, and for the first time in 2016, he was in the world's Fortune 500 companies.During the same period, Evergrande also entered the sports industry and acquired Zeng Hong's extremely Guangzhou Evergrande Football Club.
Xu Jiayin's business territory has gradually extended to multiple fields such as automobiles, cultural tourism, health, and technology.At its peak, Evergrande's total assets exceeded 2 trillion yuan. Xu Jiayin also asked Dinghu Run China to have a wealthy list in 2017.In addition, Xu Jiayin is also keen on charity. He has repeatedly boarded the "China's first goodness", and the donation amount exceeds 10 billion yuan.
Xu Jiayin has also served as a member of the National Committee of the Chinese People's Political Consultative Conference since 2008, and was promoted to the Standing Committee of the CPPCC National Committee in 2013. He was the only private entrepreneur who was elected as a member of the CPPCC.At that time, the official report was introduced that the CPPCC election was "strictly controlled, clean, and image off". The final election was benchmarking characters who made outstanding results in their respective fields.At the 70th anniversary of the National Day in China in 2019, Xu Jiayin was invited to watch the ceremony on the building of Tiananmen City. The media also wrote an article to praise his contributions in the fields of society, charity, poverty alleviation, and sports.
It can be said that this is the most beautiful period of Xu Jiayin.
Looking at Zhu Lou, seeing his building collapsed
Whether it is Evergrande's rapid expansion or his personal achievements, it is inseparable from the vigorous ambition and radical development of the family sealmodel.However, in 2016, after Chinese officials proposed "no house housing" and the requirements of structural deleveraging and risk reduction in 2018, Xu Jiayin's ambitions prompted him not to keep up with the transformation of official policies and buried hidden dangers for Evergrande.
In 2020, Evergrande was exploded. Funding was began to occur; the first US dollar debt defaults occurred in 2021. In September of the same year, Evergrande Fortune was broken due to the breakdown of the capital chain.Tailou; in March 2022, Evergrande announced its suspension.In the same year, more real estate developers have also had a problem of funding. The rotten tail buildings spread across the country, and the "stop loan tide" spread to various places. The Chinese real estate crisis that has been from Evergrande has been burning so far, dragging down China's economic recovery.
Since the Thunder, Evergrande Group has seriously funded the debt and cannot be eaten.Judging from the financial report released by Evergrande this year, the total liabilities of Evergrande Group as of the end of last year have reached 2.44 trillion yuan, and the total loss of 2021 and 2022 has reached 812 billion yuan. This is also Evergrande since its listing in 2009 in 2009For the first time for two consecutive years.
During this period, Xu Jiayin almost no longer attended political activities, and the few public appearances were either for rumors, or for the "guarantee of the building" to call for the order.In addition, since 2021, he has sold a lot of personal assets under the official request. In many people's eyes, Xu Jiayin really wants to bring the group out of the predicament.
However, in early August this year, Evergrande listed Xu Jiayin's wife Ding Yumei as "independent third party" in the announcement in early August this year.question.NotLass = Article-Pic-Title> Chinese netizens questioned that Xu Jiayin transferred property and cut debt through "technical divorce".The picture shows Xu Jiayin and Ding Yumei return to his hometown in Taikang County, Zhoukou City, Henan Province in 2018.((Internet))
Evergrande Group applied for bankruptcy protection in New York, USA in August to ensure that when it is reorganized elsewhere, US assets are not infringed.Xu Jiayin's symbol of "eating in the country" and "betrayal of the country".
Now Xu Jiayin is controlled. Looking back at the past 27 years of Evergrande, many Chinese media have used "seeing him from Zhulou, seeing his banquets, seeing his building collapsed" expressing a sighAffection.
Of course, some netizens have turned this sentence into "looking at him to start with Zhulou and look at his rotten tail."Some netizens bluntly stated that Xu Jiayin is just a hypocritical person. What you do is "the property is his own, the debt is the company, and the risk is society."
What are you waiting for Xu Jiayin?
Xu Jiayin's drama as an entrepreneur is probably the singing, and the next waiting for him is only the legal trial and sanctions.
Yang Guoying, a well -known economic commentator in China, pointed out that although it is not illegal even if the liabilities are in the "negative enemy country", Xu Jiayin may be suspected of charges, including illegal fundraising, illegal transfer of assets, and financial fraud.
Yang Guoying pointed out that the principal and interest of Evergrande Wealth of Evergrande of the financing platform exceeded 30 billion yuan. Du Mou, an executive of Evergrande Fortune, was previously notified by Shenzhen Police's suspected illegal crimes."How could the actual controller of Evergrande's wealth be eluted clean?"
Yang Guoying also pointed out that Evergrande's 2021 year of the 2021 middle financial report also shows that the group has more than 400 billion yuan in net net netAssets, after the government working group entered the detailed investigation account, Evergrande became a negative asset scale of more than 600 billion yuan.He believes that such a greatly changed account change is likely to be because Evergrande has always adopted hidden methods to fake financial fraud by 2021, and injecting assets in disguise water is convenient to financing.
Yang Guoying wrote: "If the above confirmation, wait for Xu Jiayin, it is at least 20 years of prison disaster, and may even be in the future."
21st Century Business Herald on Thursday (On the 28th), an expert of unnamed criminal law said that from the current public information to judge that the problems involved in Xu Jiayin may be related to multiple crimes, which is very complicated, and it may take a considerable period of time to clarify.
Looking through the past cases, Wu Xiaohui, the chairman and CEO of the world's top 500 companies "Anbang Insurance", was controlled by the police in 2017 and filed a public prosecution in February 2018.The crime of fraud and duties was sentenced to 18 years in prison and a confiscated property of 10.5 billion yuan.
Senior Chinese companies who have been controlled before Xu Jiayin, such as Bao Fan, founder of Huaxing Capital, who cooperated with relevant Chinese departments from February this year, and forced to be compulsory for suspected illegal crimes in September 2021 in September 2021Tan Xiangdong, CEO of HNA Group Co., Ltd., has no further news so far.
It can be seen from this that the speculation on the media and the Internet is not outrageous, but how will Chinese officials specifically make convictions and sentencing of Xu Jia, I am afraid it will have to wait for it to know.
Without Xu Jiayin, how do you go to the next step?
The Xu family was printed down, but Evergrande's debt had to be repaid.
In fact, Evergrande has been working hard for the debt reorganization in the past two years, and has also suffered a critical strike in the past week.Evergrande first announced on September 22 that the debt restructuring meeting originally scheduled to be held this week was announced; on the 24th, it was announced that the subsidiary Evergrande Real Estate was filed for investigation and could not issue new debt.
The Caixian CIA quoted Evergrande's foreign creditors on Thursday that because of the debt that could not be traded before the reorganization, the notice that could be restored on the same day may meanEssence
The debt restructuring plan was originally at stake. Now it is confirmed that Xu Jiayin was controlled, but it was just one of the straws that overwhelmed the camel.
This can also be seen from the response of real estate stocks in Lugang.As of the close of Friday, the real estate stocks of the two places have basically increased, showing that the market expectations are sufficient, and it has not been affected by the Xujiayin incident for the time being.However, it remains to be observed whether it will have a chilling effect on other real estate developers, or further affect the future impact of the Chinese property market.
Of course, for Evergrande's creditors, the possibility of Evergrande's increasing the possibility of completing debt reorganization and having to eventually enter the bankruptcy liquidation process has increased sharply, and this is almost equal to them.Back.
However, for Evergrande owners with a greater proportion, the mainstream view is believed that even if Evergrande's bankruptcy liquidation, the loss will not be passed on to the owner.
It can be seen from the official attitude of Chinese officials that whether it is urging real estate developers to "guarantee" or abandon enterprises, from state -owned capital or local governments to take over, the official will not let the real estate industry explode thunder and cause people's livelihood to cause people's livelihood to cause people's livelihood to cause people's livelihoodquestion.
But in any case, Evergrande Group and the messy stalls of more real estate developers will be the heavy burden of local governments, and it is also a huge pain in the family who have paid money but cannot collect the house.
