Xu Jiayin was arrested, and Evergrande Property sued to recover 13.4 billion deposits
Since 2021, Evergrande Real Estate's huge deposits have suddenly disappeared out of thin air, causing quite a stir. The 13.4 billion deposits were misappropriated by Evergrande Group, resulting in the insolvency of Evergrande Real Estate. Evergrande Real Estate is a small company, with an annual profit of only a few hundred million, and how to make up for this huge deficit has become a big problem. Evergrande Group's handling has attracted widespread attention. After investigation, they chose to let Xia Haijun and other three executives take the blame and resign, and let them bear the blame. Xu Jiayin said that the documents had his signature on them, but he did not look at them carefully, and because there were too many documents, no one reminded him. But his explanation failed to calm down**. Finally, Xu Jiayin was printed in September of this year**. There has been no news on this matter so far, but Hsu's future is worrying. Analyzing recent cases, such as Zhou Shiping, the founder of Hongling Venture Capital, also makes people worry about Xu Jiayin's future. Zhou Shiping was finally sentenced to life imprisonment in 2021**, when Hongling Venture Capital collapsed with a debt of more than 20 billion. By contrast, Xu Xiaoping's problems may be ten times more serious than Zhou's. For this case, let's wait and see.
Now, Evergrande Real Estate has chosen to sue Evergrande Group in an attempt to recover the 13.4 billion deposits. It's actually for their own survival and protection. As long as this huge gap is plugged, Evergrande Real Estate can continue to be a valuable company. That's why they decided to make the case public and have their son sue his father. However, Xu Jiayin's misappropriation of Evergrande Real Estate's deposits is really shooting himself in the foot. Why?If he hadn't embezzled the 13.4 billion at that time, Evergrande Real Estate would still be a company with a market value of tens of billions. And in 2021, Evergrande fell into a crisis: initially, Evergrande and Hershey agreed that Hershey would acquire Evergrande Real Estate 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 deposit. 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 in the future. However, Xu Jiayin has created trouble for himself, and Evergrande Group's current debt is as high as 2.3 billion, which may be difficult to reverse.
In short, after Xu Jiayin**, Evergrande Real Estate chose to sue Evergrande Group to recover a deposit of 13.4 billion. This incident has undoubtedly caused huge difficulties and pressure to Evergrande Real Estate and Xu Jiayin. Xu Jiayin's explanation was not recognized by **, but further deepened the outside world's doubts about him. At the same time, Xu's future prospects are uncertain. It can be seen from similar cases such as the life imprisonment sentence of Zhou Shiping of Hongling Venture Capital that the problems faced by Xu Jiayin may be even more serious. Evergrande's lawsuit is their hope to fill this huge hole for their own benefit. As long as this goal can be achieved, Evergrande Real Estate still has the opportunity to become a valuable company. However, Xu Jiayin's misappropriation became his own obstacle and made him lose the opportunity to save Evergrande. Evergrande Group is currently facing huge debt pressure, and it may be difficult to get back on track. Therefore, Xu Jiayin's future is full of uncertainties, making people worry and speculate about his fate. In any case, only time will tell.