December 2, "Guangzhou Yuexiu Public Security" microblogging news, content only "Xu Jiayin" three words, microblogging in a few seconds was deleted, leading to speculation, Evergrande Group Chairman Xu Jiayin Changsha jumped rampant rumors.
This has not dampened the various thoughts of netizens, and speculation about Xu's fate continues.
Based on his former experience, Wenxuan financial think, even if the Evergrande Group debt restructuring slow, Evergrande automobile is also difficult to improve, shoulder the responsibility to "guarantee the delivery of the building" Xu Jiayin's heavy responsibility obviously will not be so easy to come down to the "poker table".
Radical, adventurous and optimistic is his usual style of behavior. During his 30 years in business, he went through many crises. There were times when he seemed to lose, but they all turned dangerous. It has also dominated many dramatic stories that the market finds difficult to understand.
Evergrande Group is highly indebted and has blindly diversified and expanded in recent years, and the debt crisis erupted in the second half of 2021, plunging Xu Jiayin and Evergrande Group into a crisis.
Evergrande's thunderstorm past
Although there were rumors that Evergrande was coming, "Thunderbolt", but also just rumors, has been denied one after another.
It wasn't until August 10, 2021 that Evergrande Group suddenly announced that it had started selling its name assets. For a listed company, this kind of announcement is very high specification and will not be released as it will lead to lack of investor confidence and stock crash.
Shockingly, Everest's announcement was very blunt:
The Company (China Evergrande Group) is in the process of contacting several potential independent third-party investors to discuss the sale of certain assets of the Company, including but not limited to certain interests in listed subsidiaries, China Evergrande New Energy Automobile Group Limited and Evergrande Property Group Limited.
Almost at the same time, the executives and shareholders of Evergrande who used to support Xu Jiayin began to change their faces rapidly. Evergrande's president Xia Navy reduced shares to cash out hundreds of millions of Hong Kong dollars, China's Evergrande executive director Shi Junping sold Evergrande's property shares to cash out HK$22,525,600, Evergrande's executive director Huang Xiangui sold Evergrande's automobile shares to cash out HK$738,100, and China's real estate ceo Gambi reduced his holdings to cash out HK$28 million.
As a result, the confidence of the market subsided and a run on Evergrande's wealth appeared. Within a short period of time, the exit of a large number of funds directly led to the explosion of Evergrande Wealth, which also means that the Evergrande Group has officially exploded, and the situation is no longer controlled by Xu Jiayin.
This incident implicates, Xu Jiayin around close friends of the "second round of betrayal".
According to internal employees, as early as May this year, Du Liang, general manager of Evergrande Wealth, paid 9.9 million yuan in advance because of a family emergency. Later, Evergrande verified that the incident was true. Among them, in July this year, Xu Jiayin's wife Ding Yumei's 23 million yuan was also paid in advance before expiration. In addition, Evergrande Wealth executives Tang Fajun, Li Wenting and Wang Canran paid 1 million yuan, 300,000 yuan and 500,000 yuan in advance respectively.
In Evergrande's moment of crisis, executives and shareholders are cashing out. Doesn't this lead to speculation that they are not optimistic about Evergrande? Even they have cashed out. Who should have confidence in Evergrande?
Despite the fact that the executives have been arbitrage, corporate credibility, but Evergrande is still the attitude to solve the problem.
On September 14, China Evergrande announced that the Board of Directors has engaged Houlihan Lokey (China) Limited and China Harbour Capital Limited as the Group's joint financial advisors. Explore all feasible solutions to alleviate the current liquidity problem and strive to achieve the best solution for all stakeholders as soon as possible.
The $1.95 trillion consists of two main components, including $571.7 billion of interest-bearing liabilities and $66.9 billion of trade payables. The $66.9 billion of trade payables include commercial paper, which has been frequently mentioned by many people recently. These two parts add up to less than 1.95 trillion dollars, what's left? Specifically leave room for reverie.
Therefore, what Evergrande was facing at that time was more of a crisis of confidence.
And a legend for a generation.
Back to more than a decade, Xu Jiayin is also "the most beautiful boy in this gai", many times staged counterattack legend, teaching capitalists to work, the achievement of a generation of legend.
After a cold family life and the loss of his mother at a young age, Xu developed an independent and stubborn character.In 1978, Xu succeeded in the college entrance examination and after graduation, he spent ten years in a steel factory. Later, he took advantage of the winds of reform and opening up to move to Shenzhen and became a salesman. 1992, he received an order of 100,000 yuan for his company.
Of course, the stubborn Hui Kayan wouldn't want to work for someone forever. 1996, Hui Kayan set up Evergrande Group with his eyes on real estate. With a series of precise operations by Hui Kayan, Evergrande Group became a dark horse in the Chinese market.
In 1999, Hui Ka Yan pushed Evergrande into the top ten real estate enterprises in Guangzhou; in 2004, Evergrande jumped into the top ten real estate enterprises in China; in 2009, Evergrande was successfully listed on the Hong Kong Stock Exchange, setting a trading record with a total market value of HK$70.5 billion.
Many people think that 2016 is the highlight moment of Xu Jiayin and Evergrande. In fact, Evergrande's listing in Hong Kong on November 5, 2009, before and after the day is the highlight of the moment "humble" to complete the pursuit of life's ideal peak moment.
In the process of rapid Zhang, Xu Jiayin and Evergrande almost collapsed in the financial crisis of 2008, and the listing plan launched at the beginning of the year was forced to be shelved, and some wealthy Chaoshan bosses even had the idea of buying Evergrande.
Three months later, Cheng Yu-tung injected US$150 million into Evergrande through Chow Tai Fook, and partnered with the Kuwait Investment Authority, Deutsche Bank and other institutions to provide US$506 million in equity funding.
On November 5, 2009, Evergrande was listed on the Hong Kong Stock Exchange with the help of the Big D Club. Cheng Yu-tung, Joseph Lau Luen-hung, Albert Yeung Sau-shing and Zhang Songqiao attended the Hui platform, and the stock price rose sharply that day. Mr. and Mrs. Hui created a new list of China's richest people at the time with a personal wealth of HK$47.949 billion and a 68% stake.
And 300 billion in cash.
Who ever thought that Evergrande, now trapped by cash flow, was a well-funded real estate company with the largest land bank a few years ago. At the same time, there are thousands of projects started, which is the most beautiful landscape in the city.
In 2016, Evergrande entered the "glorious moment" to beat Vanke and topped China's real estate sales for the first time. This year, Evergrande entered the world's top 500 for the first time.
Subsequently, Xu Jiayin was recognized as the richest man in China by Forbes Rich List and Hurun Rich List, with a personal wealth close to 300 billion yuan. Evergrande is said to have another 300 billion dollars in cash, with unlimited wealth and scenery.
|Hurun Report 2017 Top10
Among the "real estate a brother", Xu Jiayin will Evergrande Real Estate renamed China Evergrande Group, meaning that it does not want to do only real estate.
On November 9, 2013, cheered by nearly 50,000 fans at the scene, Guangzhou Evergrande drew 1-1 at home against Seoul FC of South Korea, and with many away goals, won the AFC Championship, becoming the first Chinese soccer club to stand at the top of Asia in 23 years.
In 2020, Xu Jiayin took 500,000 square meters of land in Xiecun, Panyu, Guangzhou, for 6.8 billion yuan, and is set to drop another 12 billion yuan to build the world's top professional soccer stadium, surpassing Barcelona's home stadium, Camp Nou.
If all goes well, the 100,000-capacity soccer stadium, which is expected to be completed by the end of 2022, will be another highlight of Hui's career.
Even the official's achievements have been officially certified. During the National Day parade and gala held in Beijing's Tiananmen Square to celebrate the 70th anniversary of the founding of New China, Hui was invited to participate in the ceremony, watch the ceremony at the Tiananmen Square building, and watch the gala again in the evening.
It seems to be prosperous and invincible, but in reality, the dark tide is surging.2021, after the repeated exposure of rotten buildings, internal staff complaints and other scandals, the thunder of Evergrande's debt of 2 trillion dollars has also surfaced.
At 7:00 p.m. on December 2, Evergrande Group held a special meeting on delivery work. Xu Jiayin focused on summarizing the resumption of production and delivery since this year at the meeting, and requested to ensure the completion of the annual delivery task.
Source: Evergrande Group official website
From January to November this year, Evergrande Group achieved 256,000 sets of building deliveries. in 2022, we will strive to complete 300,000 sets of building deliveries. in December, we must complete 44,000 sets of building deliveries with quality and quantity," said Hui. There are 29 days left in the month. Time is short and the task is heavy. All the employees of Evergrande must fulfill the main work firmly to ensure the completion of the annual delivery task."
