December 2, 2022, Guangzhou Yuexiu public security microblogging only "Xu Jiayin" three words caused a furor, and then deleted, rumors, Changsha jumping rumors pervasive.
Rumors abound as netizens speculate on the fate of Hui, whose road ahead seems to be full of thorns.
Wenxuan financial analysis, even if the Evergrande Group debt restructuring stumbled, Evergrande automobile prospect is worrying, Xu Jiayin shoulder "guarantee to hand over the building" of the heavy responsibility, the road of its outgoing I'm afraid it will not be smooth sailing.
Aggressiveness, adventure and optimism are the main themes of his character. During his 30 years in business, he has weathered countless storms and crises, but has always managed to turn them into a series of market wonders.
Evergrande Group is heavily indebted and has blindly diversified and expanded in recent years, and the debt crisis erupted in the second half of 2021, pushing Xu Jiayin and Evergrande Group into the abyss.
Evergrande's Crisis Begins
Although the previous rumors about Evergrande's "thunderstorm" were endless, but they were all denied one by one. Until August 10, 2021, Evergrande Group suddenly announced the sale of assets, this announcement of high specifications, let a person shocked.
The announcement bluntly stated that Evergrande is negotiating with a number of potential investors for the sale of some of its assets, including listed subsidiaries and some interests in Evergrande New Energy Vehicle Group and Evergrande Property Group.
At the same time, the top management of Evergrande have reduced their holdings to cash out, the market confidence collapsed, Evergrande Wealth run tide raging, a large number of funds withdrawn, the Evergrande Group fell into a situation of out-of-control.
This incident triggered the Evergrande internal cronies "betrayal", general manager Du Liang paid huge sums of money in advance, Xu Jiayin's wife Ding Yumei's payment is also paid in advance, the senior management layer have to cash out, so that people are full of worries about the future of Evergrande.
Despite high-level cashing out, Evergrande remains committed to solving the problem. on September 14, Evergrande announced that it had hired Houlihan Lokey and China Harbour Capital as joint financial advisors to explore all viable solutions.
The $1.95 trillion debt is made up of two main components, but further details are still needed.
Therefore, what Evergrande was facing at that time was more of a crisis of confidence.
It had its moments.
Looking back more than a decade ago, Hui was once a shining star in the business world, staging many comebacks and becoming a model for capitalists to achieve a legend.
In his early years, his family was poor, his mother died early, he developed an independent and tough character. 1978 college entrance examination success, after graduation, worked in a steel factory for ten years, and then went to Shenzhen to become a salesman, 1992 for the company to win 100,000 yuan of orders.
In 1996, Hui Kayan founded Evergrande Group and entered the real estate market. With a series of precise operations, Evergrande Group quickly rose to become a dark horse in the Chinese market.
In 1999, Evergrande became one of the top ten real estate enterprises in Guangzhou; in 2004, it jumped into the top ten real estate enterprises in China; in 2009, it was successfully listed on the Hong Kong Stock Exchange, with a record total market value of HK$70.5 billion.
In 2016, Evergrande became the "real estate big brother", Xu Jiayin was recognized by Forbes and Hurun Rich List as "China's richest man", his personal wealth is as high as 300 billion yuan, and Evergrande has 300 billion yuan of cash reserves.
|Hurun Report 2017 Top10
Become a "real estate brother", Xu Jiayin will Evergrande Real Estate renamed China Evergrande Group, intended not to stop at the real estate business.
In 2013, Evergrande Football Club won the AFC Championship, becoming the first Chinese soccer club to stand at the top of Asia in 23 years.
In 2020, Hui took 500,000 square meters of land in Xiecun, Panyu, Guangzhou, for 6.8 billion yuan, and is set to invest another 12 billion yuan to build a world-class professional soccer stadium.
It seems to be prosperous, but in fact, the dark current is surging.2021, rotten buildings appear frequently, internal staff complaints and other scandals exposed, Evergrande debt 2 trillion thunder also rang.
On the evening of December 2, Evergrande Group held a special meeting on delivery work, and Xu Jiayin emphasized the resumption of production and delivery since this year, and requested to ensure the completion of the annual delivery task.
Source: Evergrande Group official website
Xu Jiayin said, "From January to November this year, Evergrande Group realized 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. 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."
