Since 2021, Evergrande Property's huge deposits have suddenly disappeared, causing a huge sensation. The 13.4 billion deposits were misappropriated by Evergrande Group, which led to Evergrande Property falling into the predicament of insolvency. Evergrande Property is a relatively small company, with an annual profit of only a few hundred million, and how to make up for this huge gap has become a big problem. The way Evergrande Group handled the matter has attracted widespread attention. After investigation, they chose to let the three executives, Xia Haijun and others, resign and let them take responsibility. Xu Jiayin claimed that he signed the document, but he did not read it carefully, and no one reminded him because there were too many documents. But his explanation did not calm the voice of **. Finally, in September this year, Xu Jiayin was arrested. There is no more news on the matter, but Xu Jiayin's future is worrying. Looking at recent cases, such as the arrest of Zhou Shiping, the founder of Hongling Venture Capital, has also raised concerns about Xu Jiayin's future. When Zhou Shiping was arrested in 2021, Hongling Venture Capital was thunderous, with a debt of more than 20 billion, and was finally sentenced to life imprisonment. In contrast, Xu Jiayin's problems may be ten times more serious than Zhou's. Let's wait and see.
At present, Evergrande Property chooses to sue Evergrande Group in an attempt to recover the 13.4 billion deposit. It's actually for their own survival and protection. As long as this huge gap is filled, Evergrande Property can still become a valuable company. That's why they decided to make the case public, so that their son could sue his father. However, Xu Jiayin's misappropriation of Evergrande Property's deposits is actually shooting himself in the foot. Why?If he hadn't embezzled the 13.4 billion at that time, Evergrande Property would still be a company with a market value of tens of billions. In 2021, Evergrande broke out into a crisis, and Evergrande and Hopson Development had agreed to let Hopson Development acquire Evergrande Property shares held by Evergrande Group for 20 billion **, accounting for about 50%. However, the deal also fell through due to the disappearance of the $13.4 billion in deposits. Therefore, if Xu Jiayin had not embezzled the 13.4 billion at that time, he would have had the opportunity to raise 20 billion to save Evergrande Group. However, he got himself in trouble, and now Evergrande Group has a debt of 23 trillion, trying to turn the situation around can be described as difficult.
In summary, after Xu Jiayin was arrested, Evergrande Property chose to sue Evergrande Group to recover 13.4 billion deposits. This incident has undoubtedly brought huge difficulties and pressure to Evergrande Property and Xu Jiayin. Xu Jiayin's explanation did not win the approval of **, but further intensified the suspicion of him. At the same time, Xu's future prospects are also full of uncertainty. As can be seen from similar cases, like Zhou Shiping of Hongling Venture Capital, who was sentenced to life imprisonment, Xu Jiayin's problems may be even more serious. Evergrande Property's prosecution action is for their own interests, hoping to fill this huge hole. As long as this goal is successfully achieved, Evergrande Property still has a chance to become a valuable company. However, Xu Jiayin's misappropriation became his own stumbling block, depriving him of the opportunity to save Evergrande. Today, Evergrande Group is facing huge debt pressure, and it is difficult to get back on track. Therefore, Xu Jiayin's future fate is full of uncertainties, and people can't help but worry and be curious about his fate. In any case, only time will tell.