Recently, there has been a lot of good news about Aoyuan Group's debt restructuring, and not long ago, another debt restructuring was approved by a majority of creditors, and after the successful restructuring, Aoyuan's net assets have increased significantly. Some institutions even believe that Aoyuan Group has gone ashore, and it can be optimistic about the future. According to Aoyuan Group's 2022 financial report, the company's total equity is negative 17.6 billion yuan, and only looking at the data on paper, Aoyuan Group can already be defined as insolvent. This is only the data at the end of last year, and the situation may be worse than before, because since the beginning of this year, the business situation of Aoyuan Group has continued to decline, and there are large cases of property enforcement from time to time.
According to its financial report, Aoyuan Group's revenue in 2022 will be 18.4 billion yuan, compared with 49.7 billion yuan in 2021, and 67.5 billion yuan in 2020 before the explosion. It can be clearly seen that after the debt default, the operating conditions of Aoyuan Group have plummeted. It's still too early to talk about the disembarkation of Aoyuan, so don't rush to draw conclusions so early. I don't know if Aoyuan went ashore, but the employees of Aoyuan definitely didn't go ashore, after all, they couldn't get their salaries, and they were about to go to work at their own expense. An employee of Aoyuan Group's urban watch sector revealed that the current employees of their urban watch sector have been in arrears for about 4 months. Basically, I rely on my love for the company to go to work, and I don't stop working, but it's hard to get a salary. There are also a large number of former employees in the urban renewal sector who have complained that since being laid off in May 2022, Aoyuan Group has not yet settled the unpaid severance compensation. To be precise, those who have been laid off after May 2022 have not received severance compensation so far. A large number of employees also went to arbitration, but in the end, Aoyuan did not cooperate with the enforcement, which was still equal to 0. The most unconvincing thing for the employees of Aoyuan City is that the wage arrears in the Aoyuan real estate sector are very minor, and they can basically get their wages. Why is it so difficult for employees in the urban renewal sector to pay their salaries?
A large number of urban renewal projects in Aoyuan have been used as the company's publicity cards and basic plates many times when it first defaulted on its debts. Indeed, among the large number of urban renewal projects of Aoyuan Group, there are many low-cost and high-quality projects, which have also brought a steady stream of cash flow to Aoyuan. However, since the beginning of this year, due to the overall drag of real estate, a large number of urban renewal projects of Aoyuan Group have simply entered a state of semi-stagnation because of the long development cycle and the abnormally poor sales decentralization.
The reason for not being able to develop the project and then not paying wages seems to be right, but people still have a workload, and it is still unreasonable. But for those employees who have laid off employees, severance compensation has been delayed, what is going on?