real estate enterprises encountered winter, basically the first to be abandoned will be only input not output soccer club project. Now, many shenzhen fans are beginning to worry about the future of the shenzhen team, because just in the afternoon of November 3, a netizen in the social platform broke the news that jiazhaoye financial products overdue. 8:00 a.m. on November 4, part of the financial products of the investors gathered in the jiazhaoye's office in shenzhen kerry center to seek redemption plan, and then the exchange venue to transfer to the friendship hotel. The scene involves nearly a thousand investors, investors are mostly owners of JIAOYI, the total amount of financial products is about 12.7 billion yuan. JIAO Chief Executive Officer Mai Fan confirmed at the scene that over the past year, JIAO has indeed encountered difficulties in its operations, and has previously insisted on completing the payment of financial institutions, partners, and wealth products, however, since October 29, JIAO has suffered a “stage of unsustainability”, and therefore could not pay investors the principal and interest due. Goodchild Group Board Chairman Guo Yingcheng also said with the site investors audio link, now he is in the hospital because of physical reasons, but Goodchild is a responsible company, please investors believe that Goodchild has the ability and means to pay back the money, I hope that everyone stabilized, give Goodchild time, Goodchild will be given as soon as possible to the program.
Earlier, it was revealed that JIA Group is looking to sell a 67.2% stake in its property management company (JIA Wonderful Group Limited) and two residential sites in Hong Kong, which were purchased only a year ago. Over the next 12 months, Glorious has to repay about $3.2 billion in debt, with the latest maturity being a $400 million bond due on December 7. At the close of trading on November 4, Glorious Group's shares were down more than 15%, making the capital market's concerns about Glorious clear. At the same time, Shenzhen regulators said they would hold a special meeting on Nov. 5 to discuss the liquidity problems of JIA Zhaoye and Huadian.
If Jazzy really is experiencing a “phase of unsustainability,” as chief executive Mai Fan said, then the future of the Shenzhen team is clearly a concern. After all, the Shenzhen team has made a number of heavyweight signings in the new season, whether it is a lineup of domestic players or foreign aiders, all of which are considered big names. Prior to this, the Shenzhen team's performance has been relatively stable, and the team has also successfully entered the Championship Punch Group in the Chinese Super League League. If there are liquidity problems on the part of Jiazhaoye, then the Shenzhen team may also be affected.
Looking back, Jia Zhaoyi in 2014 also had a cash flow dry up leading to bond defaults, the situation than the status quo had been even worse. However, in a number of banks under the aid, jiazhao industry turn crisis into peace, and use just in time to catch up with the upturn in the shenzhen property market. I do not know whether this crisis, Jiazhaoye can still safely through, so that investors and fans of the Shenzhen team, are down to earth. (Sports world new vision)
