Evergrande Property announced on the evening of Tuesday (November 28) that the deposit pledge of about 13.4 billion yuan (RMB, the same below, the same, about S $ 2.56 billion) was enforced by relevant banks.The company's wholly -owned affiliated company Jinbi Property Co., Ltd. Jinbi Property Co., Ltd. to Shenzhen Qishan Metal Materials Co., Ltd., Guizhou Guangjuyuan Real Estate Development Co., Ltd., Evergrande Real Estate Group Guiyang Real Estate Co., Ltd., Evergrande Real Estate Group Co., Ltd. and China Evergrande GroupThe pledge guarantee for about 2 billion yuan in depository pledge of Jinbi Property has filed a lawsuit with the enforcement of banks for compulsory execution of the bank.
Evergrande Property stated that the company requested the responsible party to repay over 2 billion yuan, including the original amount of about 1.996 billion yuan and the temporary interest of about 152 million yuan, which was closed on November 28, 2023.Go to the court to formally accept the notice of filed the case.
Evergrande Property also said that according to the analysis of the board of directors and its legal consultants, the lawsuit will not have a significant adverse effect on the group's daily business operations.It will further announce the timely promotion of any major progress in the above lawsuits or any other action published by the company.
Comprehensive Surging News and Blue Whale Finance reports that the above -mentioned 13.4 billion yuan deposit pledge can be traced back to March last year.
China Evergrande issued an announcement at the time that Evergrande Property, an important subsidiary of China Evergrande, found that it was a $ 13.4 billion deposit in the 2021 financial report.Forced execution.In July last year, the independent investigation committee organized by Evergrande Group announced the preliminary investigation results, that is, the funds of Hengda Property 13.4 billion yuan of funds passed the single pledge guarantee method to obtain loan funds from the bank.China Evergrande.
China Evergrande disclosed the progress of pledge guarantee in August this year.From mid -December 2020 to late 2020, China Evergrande proposed a special financing business based on the Group's capital needs, thereby incident pledges.In the pledge of 13.4 billion yuan provided by Evergrande Property, about RMB 13.18 billion (after deducting or offset the cost of the arrangement) was confirmed to return to the group and was used by the group for operating purposes, including but not limited to but not limited to itOn February 10, 2021, RMB 9.75 billion was used to redeem an overseas bond.After the bond is redeemed, the purpose of the arrangement is to use the arrangement to obtain funds for other operations and financial needs of the group.
Further investigation shows that among the directors during the period, the founder of Evergrande Xu Jiayin, Xia Haijun, and Pan Darong, the executive director of Evergrande, can contact and hold related documents.Funding.Xu Jiayin had held documents that could make him notice the potential funding issues, but he said he did not review these documents because no one reminded him to pay attention to these documents.
The consultant of the independent investigation committee noticed that this was consistent with his previous statement, that is, although he would receive a lot of reports, he did not read these reports, because at a critical time, he was not responsible for the company’s company’s company’s.Finance and funds are dependent on executives responsible for finance and funds to deal with related matters.
Independent investigation also found that some documents related to the pledge guarantee arrangement are signed by Xu Jiayin, involving some domestic subsidiaries of subsidiaries in the group, cross -border funds from the company, and approval of the use of funds to redeem overseas bonds in advance.The internal approval documents signed by Xu Jiayin did not clearly indicate that it was related to Evergrande property, and only mentioned the internal funds of the group.
For the solution, China Evergrande plans to replace Evergrande property related funds by transferring assets.At present, as Xu Jiayin is taken by compulsory measures and the reorganization of overseas debt, the relevant debt repayment plan has not made substantial progress. This time it is resolved through legal channels.The money is still unknown.
