This is the multi -event autumn of Evergrande and Xu Jiayin.

On September 28th, more than a month ago, China Evergrande Group (hereinafter referred to as Evergrande Group) announced that Xu Jiayin was adopted by relevant departments for alleged illegal crimes.On October 30th, more than a month later, the Hong Kong liquidation of Evergrande Group was postponed again.According to the latest news, Evergrande Group's original liquidation on October 30 was requested to listen, and was left behind until December 4.The judge said this was the last postponement.

This may not be related to Evergrande Group's submission of defense documents to the Hong Kong court before the deadline.From the perspective of the outside world, if Evergrande Group cannot show the judge that the reorganization plan is progressing, it may increase the chance of the court issued a liquidation order.This also means that the net assets have fallen to a $ 979 million Xu Jiayin, or they will take a step of depletion of assets.

Xu Jiayin is 65 years old.He was born in Henan's poor families. In the 1980s, he changed his destiny with knowledge.From the director of the Dance Steel Workshop in 1983, to the first richest man in 2009, the Xu family was printed for 26 years.The Evergrande Group under his helm has also become one of the leading real estate companies in China.

In the years of fame and fortune, Xu Jiayin was not only bought and purchased by a luxury boat and private planes, but it was very "particular" when coming in: where people are, where the elevator controls;Private housekeepers, other personnel, especially men cannot approach ... However, Huang Liang's dream must wake up, and Xu Jiayin failed to retain the wealth of the sky.In December 2021, the Evergrande Group burst into thunder due to the broken capital chain.

In the next two years, unlike some big brothers who have worked hard, Xu Jiayin's actions are very criticized: 50 billion yuan in family dividends, set up a high trust fund for his son; divorce his wife Ding Yumei, etc.EssenceWhen Xu Jiayin's various operations surfaced, Du Liang, the legal representative and general manager of Evergrande Group's company Evergrande's company, was taken criminal compulsory measures by relevant departments for suspected illegal crimes.

As the actual controller of Evergrande wealth, how can Xu Jiayin elute clean?So there was the beginning.After Xu Jiayin was taken for mandatory measures, all kinds of doubts came from: What exactly did the Evergrande National Song and Dance Troupe do?What are the charges of Xu Jiayin?What should I go from the Evergrande Group without Xu Jiayin?How does the mentality change in the bureau in the crisis of Evergrande?All of this is so confusing.

"I can't wait to pull everyone on WeChat"

Sister Nan knew from others to know that Xu Jiayin was taken for mandatory measures.As a supplier of East China, Evergrande Real Estate, Evergrande Group, Evergrande Group has not settled by more than 3 million yuan.On September 28, she was busy taking off.Sister Nan urgently needs to make money and supports the only six employees.In the first few days, Sister Nan was not prepared for psychological preparation, and she didn't want to see the news of the family seal."My first reaction, there is no hope for getting money back."

Whether Evergrande Real Estate Project is completed or not is directly related to whether suppliers can get a repayment.Taking the central region where Sister Nan is located as an example, if the Evergrande real estate project in this area is completed, there will be an asset liquidation process.Excluding the government's capital injection for Evergrande Real Estate, the remaining assets will be processed in accordance with the order of the law, and suppliers like Sister Nan are third in this chain.

However, Sister Nan found that Evergrande Real Estate has almost no assets in Central China.After the incident of Xu Jiayin, Sister Nan took some judgments to apply for compulsory execution to Evergrande Real Estate's relevant companies.Among them, two have been executed, "but found that there is no property, so the money should not come back." Sister Nan told the "city boundary" helplessly.

Small and medium -sized suppliers have obvious emotions, while large suppliers seem to be calm.Wang Zhi's decorative company is dragged down by Evergrande Group, and has been self -rescue in the past two years.Before the incident of Xu Jiayin, Wang Zhi's company sought the rights and interests through legal means.After Xu Jiayin had an accident, "as before, there was nothing to change. Continue to do some communication with Evergrande Group according to our rhythm and method, including some preparations and actions in legal affairs. How much can they strive for." Wang Zhi Xiang "The city industry explains that we are not a person at Evergrande Group, but for enterprises.Whether Xu Jiayin is caught or not, we all do this.

It is the same as before, as well as the staff of Evergrande Group."We still know this about the boss's matter." The two Evergrande employees told the "city industry." At present, the company is still operating normally.

However, some subtle changes in mentality are afraid they did not even notice themselves.Evergrande company executives were taken away successively. In particular, after the incident of Xu Jiayin, chairman of the board of directors of Evergrande Group, Sister Nan found that Evergrande's real estate employees in her area were either silent or rigorous."Before, they would talk to me or complain about Evergrande's real estate."

Xu Feng, who had been in Evergrande Group for many years, also felt.

Taking Evergrande's wealth as an example, after Du Liang and Xu Jiayin have occurred one after another, although the company still exists, Xu Feng said that whether he was a grass -roots personnel or a high -level personnel on -the -job, he was extremely low -key.They can't wait to pull all the WeChat of all people, and the circle of friends is basically invisible.Because these wealth management consultants had pulled many investors into the pit, these bitter masters who could not get back their principal wanted to find Hengda wealth employees "desperately".

Evergrande Group's debt holes are still high.According to Evergrande Group, as of December 31, 2021, the total debt of the group was 258.15 billion yuan.Evergrande Real Estate involved a total of about 278.532 billion yuan in due debts, and the cumulative overdue business tickets were about 206.777 billion yuan.

Xu Jiayin, who could never stop this hole, was finally taken on September 28.

Huang Lichong, the founder of Xiezong Strategy Management Group, told the "city boundary" that Xu Jiayin was taken for compulsory measures in accordance with the law, but it may still need to be in contact with the outside world, such as cooperating with the preservation of the property, or cooperating with the relevant departments to the situation of the Evergrande Group Group.Clear.Some files need to be signed by Xu Jiayin.

"Mandatory measures can be changed. For example, criminal detention is generally 10 days and the longest is 37 days. During this period, it can be changed to bail pending trial or monitoring. Only in the residence or other special circumstances.Only then can there be surveillance and residence in a designated place, and generally surveillance and living. "A prosecutor in Shanghai told the" city industry "that if it is ordinary surveillance, management may not be so stricter.It should be staying at home, not to go out, but not completely in the outside world.

For more than a month, Xu Jiayin has not been in the rivers and lakes, and there are many "legends" of him and Evergrande.

"Evergrande Song and Dance Troupe is not so evil"

What is the most concerned about the people who eat melon, how many beautiful women are there in Evergrande National Song and Dance Troupe and what are they doing?

It is reported that Evergrande National Song and Dance was established in 1999. The members are young and beautiful women, and they have received the top pay benefits in the same industry. They have participated in many national art performances.

Xu Feng told the "city boundary" that most of the information of the Evergrande Song and Dance Troupe circulating on the market is not very real.He said that the reason why Xu Jiayin had to set up an Evergrande Song and Dance Troupe was to copy the model of his old owner Dance Steel Factory, and Dance Steel also had song and dance troupes.

Xu Jiayin's hobby is not only watching songs and dances, but also playing billiards.For a long time, Evergrande is the exclusive sponsors of billiard star Ding Junhui.In 2017, Ding Junhui has been wearing the "Evergrande Financial" chest, and participates in the Jioline China Open.

Xu Jiayin also likes to hold female stars. "Lao Xu helped others to set up a studio. The employees in the studio were allocated from Evergrande.Xu Feng said.

But from the outside world, Xu Jiayin's favorite is his family.After the incident of the Xu family, some of his wives Ding Yumei, his eldest son Xu Zhijian, and the second son Xu Tenghe also surfaced.Xu Zhijian graduated from Tsinghua University and was responsible for the management of Evergrande Group's property, gardens and other aspectsWork.Xu Tenghe is the "return" of Harvard University. He has participated in the many businesses of Evergrande. He has been the chairman of the Pearl River Delta Company of Evergrande Group for many years and is also responsible for Evergrande's important work."Ding Yumei has been managing the cultural industry of Evergrande Group, such as buying and buying collections, participating in art exhibitions, recruiting some artists, etc." Xu Feng told the "city boundary."

Because the growth environment of the two is different, the style of Xu Zhijian and Xu Tenghe is also different.Xu Zhijian was born in Dance Steel. He grew up in the hometown of Xu Jiayin. "When his eldest son was in his 10s, he was connected to Shenzhen by Xu Jiayin." Henan local Feng Xing told the "city boundary."After an adult, Xu Zhijian was "rough" for people.

"During the period of managing Evergrande's property, when the conference was held, Xu Zhijian sometimes scolded people and scolded swearing. This is not the same as his father. Xu Jiayin often reprimanded his subordinates.

Xu Feng also agreed with Feng Xing's statement. He told the "city industry" that everyone who worked in the group knew that Xu Zhijian had more exaggerated style and liked driving luxury cars.Xu Tenghe looks similar to Wang Sicong, "The rich second generation with culture. He has received elite education since he was a child. He has a stronger ability than his brother Xu Zhijian."

The plan for the two sons to printed the two sons is very simple."The two sons do not have much power to fight for power." In Xu Feng's view, Xu Jiayin preferred and he was more important to be a second son. He believed that the second son was a talented talent.To this end, Xu Jiayin deliberately arranged several old ministers to assist Xu Tenghe.For example, when Xu Tenghe served as the deputy general manager who partnered with him when he worked as a Shenzhen company, Xu Jiayin chose carefully.

But now, Xu Jiayin, who has been taken for compulsory measures, cannot plan for his son in the future as before.In addition, according to the Daily Economic News report, before Xu Jiayin was taken for mandatory measures, Xu Tenghe had been taken away, and Ding Yumei, who divorced Xu Jiayin, was "overseas".As for where the eldest son Xu Zhijian went, there was no authoritative statement.

The Evergrande Department of Xu Jiayin has also fallen apart.The day before Du Liang's control of the news, Evergrande's company Evergrande Life Insurance was taken over by Haigang Renshou Life Insurance Co., Ltd..Since the thunderbolt in September 2021, Evergrande's wealth has repeatedly adjusted the redemption plan.By the end of 2022, 34 billion will not be redeemed.The deduction part of the payment from January to July 2023 is expected to fail to pay more than 30 billion.Evergrande Automobile, the latest progress is: Due to the major uncertain changes of Evergrande Group, War Investment Fang Newton Group suspended the relevant obligations in the shares in the shares on September 29, 2023Three funds.

Evergrande Group can also make some money, Evergrande Property. Although it resumed on October 3, 2023, its stock price rose from rising to fall. As of October 27, it fell 22.8%.The Evergrande Group, which was listed in Hong Kong, has been delayed again and again. Since the end of August, the stock price has fallen by 86%since the end of August.As of 14:55 on October 30, Evergrande Group's stock price was only 0.217 Hong Kong dollars.Although Evergrande Group's debt is not offset, fortunately, the company's preservation of the mission is still in normal operation.

"City Bell" learned that half a year after the Evergrande Group exploded, at the project level, including real estate construction, employee management, salary distribution, and fund raising, it was basically taken over by local governments."Evergrande Group has no money. Except for the project's pre -sale supervision funds, in order to keep the property, the government has injected capital to the project." Xu Nan told the "city boundary."From the current point of view, the insurance overpass in some areas is nearing the end, such as Wuxi, Jiangsu.In the third and fourth -tier cities in the central and western regions such as Guiyang, Guizhou, the mission of delivery is still arduous.

The future trend of Xu Jiayin is of course not optimistic.From the perspective of the outside world, Xu Jiayin's suspected charges are not much. In addition to the crime of illegal fund -raising of Evergrande's wealth, "there is also suspected fraud, the entire Evergrande Group is suspected of issuing a large number of virtual acceptance bill financing. If the amount is large, basically, basicallyIt's the life -long. "Huang Lichong told the" city boundary. "

At this point, the Xujiayin era of Evergrande Group came to an end.

"Boss Xu has been firmly controlled Evergrande"

Before that, the entire Evergrande Group was under the control of Xu Jiayin.

Feng Xing, a local native of Henan, grew up listening to Xu Jiayin's name.When he was a child, he could always hear who was in his hometown and went to the Xu family.In the mouths of adults, Xu Jiayin was very mixed. He opened a company in the south and made a lot of money.But in fact, the place where Xu Jiayin stood out was Henan Wuyang Iron and Steel Company.Xu Jiayin was the first college student assigned.

Xu Jiayin did write a operating manual in the dance steel heat treatment workshop that year, and really made a promotional video with the TV station."These things seem to be incompatible in state -owned enterprises, and even the current state -owned enterprises, indicating that this person is quite thoughtful." Feng Xing listened to the older generation to evaluate Xu Jiayin.Xu Jiayin, who had a very thoughtful idea, was promoted as the director of the workshop in 1983. Until 1992, he left Wu Gang to Shenzhen, and then entered the real estate circle to become a super rich.

Xu Feng believes that Xu Jiayin's later "success" is not only more thoughts, strong ability, and drilling camps, but also because he is ruthless and courageous to himself.Xu Jiayin's personality characteristics were seen in the crisis of Evergrande Group in 2008.In order to integrate the funds from Hong Kong real estate brothers such as Zheng Yutong, Xu Jiayin reluctantly lost their cards for several months.In the end, he got the money.

Xu Jiayin led Evergrande Group to become the leader of Chinese housing companies, and it is also related to Xu Jiayin's highly centralized management ideas.From the first day of Xu Feng's Evergrande Group, he knew a sentence "Like Ai Eyes, Aid the Brand of the Company."From top to bottom, Evergrande Group's awareness of the brand is very high."Every year, because of brand events, they are expelled from the middle, senior management, and even the directors who have been fired. Even if you are talking about the company's good words, it is not possible to be authorized without the brand." Xu Feng told the "city boundary."

Xu Jiayin holds the financial and investment of Evergrande Group.Xu Feng said that no matter how many business segments in Evergrande Group, financial funds are all directly controlled by the group.Although Evergrande Group's investment, although the specific matters are to talk about regional companies and various business companies, the final decision -making power must be boss Xu.

Xu Jiayin's straight management, as well as the management inspection department.In addition to industry experts responsible for pre -calculation projects, people in this department also have retired criminal investigators.Their main work is to supervise whether the people under the supervision have or not to implement the Xu Jiayin, and whether there is any way to implement it, "Will supervise whether anyone is corrupted?"

In Evergrande Group, there is another term called secretary gang.The secretary gang is composed of the secretary of the Xu Jiayin and the former president of Evergrande Group, Xia Haijun."Some areas who are at high positions are their secretaries. In this way, it is easy to control." Xu Feng believes.

The biggest work of Evergrande Group's almost all regions is: how to perform the task issued by the group well.Even if the project promotes documents, the headquarters of Evergrande Group is uniformly made of templates."All the decisions are put in the large group. In the early days, Boss Xu even modified the apartment map by himself." Xu Feng told the "city boundary."

Xu Jiayin has been firmly controlled by Evergrande Group.Of course, the controlled person does not seem to include Xia Haijun.In the Evergrande Group, all the things that were not in the promotion of the family belonged to Xia Haijun.It is difficult to believe that the man's Xu Jiayin is the most trusting Xia Haijun."Only Xia Haijun can seal the Xu family, who will be expelled who will be expelled." Xu Feng explained to the "city industry" that Xia Haijun's speech at various meetings, some of the ideas and execution methods, areInspiration, level.It can be said that he is a manager who can spoil Xu Jiayin.

At the beginning, Xu Jiayin was not alone.Evergrande Group has several regulations that Xu Jiayin has been applied for three orders.First of all, the people of Wugang or those with a background of the dance steel are not allowed to enter Evergrande Group.Of course, after the Evergrande Group became bigger, there were some young brothers Xu Jiayin in the executives. "People who have the background of dance steel in the Evergrande company never say their origin, because they do n’t say that they do n’t say it, they do n’t say that they do n’t say it.It's promoted. "Xu Feng told the" city boundary. "

Xu Jiayin not only strictly strictly the direct relatives of the executives, but even their relatives prohibit entering Evergrande Group.Even his wife Ding Yumei, Xu Jiayin set up another Evergrande Cultural Industry Group to allow Ding Yumei to participate in management."But then it was too rich, there were more relatives, and there were more things at home.The company with a relatives, arranged in some corner materials.Xu Feng told the "city boundary."

But why did the family seal go to this step today?

"Too big, too aggressive, no fear of heart"

Cheng also Xiao He, who defeated Xiao He.

Xu Jiayin has reached this step today. In addition to the influence of the environment, Xu Jiayin also lies in Xu Jiayin "too aggressive, too brave, and no awe." Many people in the "city world" believed.Xu Feng gave multiple examples.

Pulling the timeline back to 2014, Xu Jiayin launched the year when Evergrande Bingquan (Affiliated Company Affiliated by Evergrande Group).In order to achieve the goal of "stepping on farmers and punching Master Kang", when Evergrande Bingquan's bottle was not produced, Xu Jiayin voted for hundreds of millions of yuan."Boss Xu's price of up to 5 yuan in Hengda Bingquan, the people below will spread 100 outlets a year to sell Evergrande Bingquan." Xu Feng recalled to the "city boundary".From the time, it was a task that could not be completed at all.

Someone did well.This person was Du Liang, the general manager of Evergrande Wealth.In order to complete the task, Du Liang Guangpu's outlets not only sold at low prices, but even sent Bingquan for free.In Xu Feng's view, Du Liang and Xu Jiayin are similar, who are brave and aggressive.Du Liang is determined that Xu Jiayin is most concerned about sales instead of profitable; Du Liang bets that the sales of the high -rise of Evergrande Ice Spring are heavy pressure."If the task is completed, the senior management knows that it is thrown out at a low price. Even if the executives know that Bingquan has lost money, she opens one eye and close one eye, because the final performance is completed. This is Du Liang's gambling.. "Xu Feng told the" city boundary. "

Du Liang is right.Du Liang's performance of Bingquan Henan Company achieved the leading nation's first in the country. "It is the one who exceeds the second place and does not know how many times." Xu Feng explained to the "city industry".This time, Du Liang was appreciated by Xu Jiayin and was able to enter Evergrande Wealth in the future.In Evergrande's wealth, Du Liang was the same radical and bold. He got most of the customers from a mature financial management institution. "After seeing Boss Xu, Du Liang was promoted again.Du Liang copied the Evergrande Bingquan model and set up branches in various places. Some brothers in Evergrande Bingquan were also taken to Evergrande Wealth. "

But Du Liang's courage used by Xu Jiayin can not be compared with Xu Jiayin himself.

Xu Jiayin's boldness is reflected in Evergrande Cultural Tourism Project.In 2017, Evergrande Group officially launched the new Chinese health model -Evergrande Health Valley.Xu Feng always remembers that the Health Valley was strenuous, and Evergrande Group took a lot of money in various places, and the money also spent a lot.Until the health valleys in various places were built, "no one of the group's senior management knows what the health valley is going to do, and only knows that many houses have been built according to the plan. After some commercial buildings are built, no one knows what to do. No one knows. No one knows.Everyone is ignorant. "

By this year, in addition to the real estate business, Evergrande diversified projects blossomed.At that time, it was not only Xu Feng, but many Evergrande employees had a doubt: the group's development was too radical, where did the expansion money come from?Sure enough, in 2018 and 2019, in the tone of the national houses without frying, due to the rapid expansion of the early stage, the capital chain of Evergrande Group was unusually tense.In order to quickly remove, Xu Jiayin also created the strategy of all -member marketing, requiring each company to break down the number of sales units."The number of pressures that presses can not buy it as much as you go." Xu Feng recalled to the "city industry".In those two years, the entire Evergrande from top to bottom was crazy, each of which was only for selling the house on his hand.

In addition to asking all the members to sell the house, Xu Jiayin also engaged in a full visit: everyone asked everyone to go to the sales department to pull people.At the most exaggerated time, a person would pull 80 people a week, and even 100 people went to the project to see the house.After the relatives and friends were looking for, Xu Feng and his colleagues helplessly pulled up the people in the society. "When we were radical, we bought eggs and chartered people to see the house.People, etc., are pulled into the house group. "This crazy situation lasted for a year.

The cash flow recovered by the crazy customer selling buildings cannot be blocked by diversified operations. Evergrande Bingquan lost three consecutive years after three consecutive years. In 2016, Xu Jiayin finally couldn't carry it.Price, sell this company.As for Evergrande's wealth, thunder was burst on September 10, 2021.Before the thunderbolt, Du Liang and his father redeemed Evergrande wealth management products of more than 10 million yuan.The days of Evergrande Health Valley are not good.As of December 31, 2022, the net debt of the Evergrande Health Valley project was 24.789 billion yuan.This year, the benefits generated by Evergrande Health Valley were only 1.5 billion yuan, and the net loss after tax removal reached 8.824 billion yuan.The crisis spread a little bit to Evergrande Group, and this giant company finally fell on December 3, 2021.

In Huang Lichong's view, Xu Jiayin has always been a gambler, and this personality runs through his first half of his life.For example, when Evergrande Group was listed for the first time, Xu Jiayin's gambling nature was undoubted.In this article, the adventurer Xu Jiayin described Xu Jiayin's bold and radical: Xu Jiayin set up a round of gambling with all net worth and foreign institutions.By betting with Evergrande's equity, he promised to return high returns, obtain huge amounts of overseas financing, assault land, make large market value, and quickly "cooked" Evergrande."Once the bet is wrong, the basket will be the biggest." Huang Lichong told the "city boundary."

Sure enough, in 2008, at the time of the global financial crisis, Evergrande Group encountered "Waterloo".Fortunately, the emergence of new investors such as "Shark Tong" Zheng Yutong solved the urgency of Xu Jiayin and Evergrande Group.

However, today, more than ten years later, Xu Jiayin not only found the white knight, but also challenged the bottom line of commercial ethics: set up a high trust for his son, divorced his wife Ding Yumei.These seem to be attentiveOperation made Xu Jiayin's reputation fall to the bottom of the valley.

December 4th will be the last chance to listen to the Hong Kong Group's Hong Kong liquidation.If this time, Evergrande Group still cannot show that the restructuring plan is progressing to the judge before the deadline, and the probability of issuing a liquidation order in the court will increase.This also means that the net assets have fallen to a $ 979 million Xu Jiayin, or they will take a step of depletion of assets.

Boss Xu, who always likes gambling, eventually lost.

(The characters Xu Feng, Feng Xing, Sister Nan, and Wang Zhi in the text are a pseudonym.)

Author | Tao Ting

Edit | Sun Chunfang

Operation | Liu Shan