In the Evergrande Building in Guangzhou City in the middle of the night, in the darkness, Xu Jiayin faced the dense documents, his eyes were tired and helpless. He knew that his mistake had led to the disappearance of Evergrande Property's 13.4 billion deposits, and now, the property company was in huge financial trouble.
Originally, Evergrande Property was only a small company with a limited scale, and its annual income could only reach several hundred million. How to fill this hole has become an insurmountable problem. The company's market value has increased from nearly 100 billion, all the way to today's billions, and the dissatisfaction of investors is difficult to quell. However, when Evergrande Group dealt with this matter, it chose to let the executive Xia Haijun and other three people take the blame and resign, and they were saddled with a black cauldron. Xu Jiayin hoped to fool the past with this, however, he never expected that the trick of fate would find him in September.
At the moment, there is no more news about Xu Jiayin's problem, but judging from the recent case of Zhou Shiping, the founder of Hongling Venture Capital, he was finally sentenced to life imprisonment after being arrested in 2021, and Xu Jiayin's problem is likely to be even more serious than Zhou Shiping. Let's leave questions for the time being, what kind of outcome Xu Jiayin will face in the future.
Evergrande Property is now filing a lawsuit against Evergrande Group to recover 13.4 billion yuan in deposits, which is actually their self-protection. Only by filling this huge hole can Evergrande Property continue to exist as a high-quality company. Therefore, the son sued his father in court for this reason. However, Xu Jiayin's embezzlement of the huge amount of Evergrande Property was actually self-destructing his future. Why?
At that time, if he hadn't embezzled the 13.4 billion, Evergrande Property would still be a company with a market value of tens of billions. At that time, Evergrande had already agreed on an acquisition plan with Hopson Development, and Hopson Development planned to use 20 billion yuan to acquire all Evergrande property shares held by Evergrande Group, accounting for about 50%. However, due to the disappearance of the 13.4 billion deposits, the deal ended in failure. If Xu Jiayin hadn't embezzled the money at the beginning, he might have successfully sold ** and raised 20 billion to save Evergrande Group. However, he reaped the consequences, and now Evergrande Group has a debt of 23 trillion, if you want to make a comeback, it will be even more difficult.
This is a warning and a lesson. Xu Jiayin's mistakes show us that momentary selfishness and negligence can have a devastating impact on a business. Whether you are an entrepreneur or an ordinary person, you need to be vigilant and honest at all times so as not to ruin your hard-earned business due to a momentary mistake.
After Xu Jiayin was arrested, the lawsuit of Evergrande Property to recover 13.4 billion deposits became the focus. Looking back at the whole affair, we see a rapidly falling corporate giant, as well as his own mistakes and misfortunes. Evergrande Property, as a victim, recovered the huge amount of money that had been misappropriated and tried to protect its own interests. However, in the face of huge liabilities and market changes, Evergrande Group has not had a good time. This story reminds us once again that in the business world, integrity and prudence are qualities that should be taken seriously. Whether it is an entrepreneur or an investor, only by always maintaining vigilance and integrity can we remain invincible in the fierce market competition. And we, as ordinary people, should also learn from it, cherish what we have, and manage our lives and careers with heart. Only in this way can we avoid repeating the mistakes of Xu Jiayin and move towards a brighter future.