On August 17, the news of Evergrande Group was like a heavy bomb, Xu Jiayin stepped down as chairman of Evergrande Real Estate, Ke Peng also resigned from the position of general manager and legal representative, Zhao Changlong took over the position of chairman, general manager and legal representative, and at the same time also served as an executive director of Evergrande Properties and vice chairman.
Screenshot of the National Enterprise Credit Information Publication System
Xu Jiayin's departure instantly triggered the financial market, Evergrande's stock fluctuated, and the outside world is full of doubts about the future of Evergrande. However, Evergrande emphasized that this change is a routine adjustment after the termination of the shell deep housing A shares, and does not involve the management structure and equity changes. At present, Xu Jiayin remains solid as the chairman of the board of directors of Evergrande Group and the actual controller of Evergrande Real Estate.
Image from the official website of Evergrande Group
Back in August 2017, Zhao Changlong was the chairman, general manager and legal entity of Evergrande Real Estate. Evergrande set up Evergrande Real Estate Group in order to return to the A-share market, and Xu Kayan took over as chairman to pave the way for the reorganization and listing of Deep Housing. Now that the shell plan has been terminated, Hui Kayan is no longer chairman and Zhao Changlong is back in charge of the company.
Bloomberg: Evergrande gets loan rollovers from several creditors
Changes in Evergrande Real Estate and the market's reaction, people can not help but think of the status quo of China's real estate industry. The Ministry of Housing and Construction and the Central Bank put forward the "three red lines" regulatory requirements in August last year, and real estate enterprises were divided into four classes according to the number of red lines. A year later, many real estate enterprises to take measures to reduce leverage, the Chinese Super League fans found that the "three red lines" list appeared a lot of familiar names of enterprises.
Screenshot from WeChat's "GlobeNewswire Property Market".
In the Chinese Super League, teams such as Guangzhou City and Hebei have shown resilience under financial pressure. Guangzhou, despite the financial difficulties faced by the Evergrande Group, the team operated smoothly and its performance was in line with expectations. Shanghai Shenhua, on the other hand, despite its strong reinforcements, has underachieved, and the team is still struggling to get off the ground after the departure of Cui Kangxi.
Problems with the equity structure of soccer salons have left many teams in dire straits under financial pressure. But as of now, there has not been any team that has been directly dissolved due to financial problems like Suning. However, it has become an indisputable fact that teams under real estate giants are declining.
The Chinese Super League's "real estate market" seems to have come to an end. Shandong Taishan, Changchun Yatai and other state-funded teams lead the standings, signaling the future development trend of Chinese professional soccer - the continued entry of state-funded teams and the diversification of team equity.
The guidance issued by the State General Administration of Sports on carrying out the construction of key cities for national soccer development aims to build a multi-party investment model with the participation of state-owned enterprises, private enterprises, social organizations, individuals and other parties, so as to avoid the dissolution of the team due to financial problems.
