On September 28, 2023, a glittering sword of justice fell sideways and slashed a corner of the desk in the office of Evergrande Group headquarters. Boss Xu, who was sitting on the soft leather seat of the desk, was shocked and trembled from his seat. The comrade showed the arrest warrant, and after reading it on the spot, the shiny shackles passed through and grabbed his hand, and took him to the bureau to drink tea and tea.
It is understood that Mr. Xu Jiayin, executive director and chairman of Evergrande Group, has been taken compulsory measures in accordance with the law because he is suspected of violating the law and committing crimes. Trading in the company's shares ceased trading on the Stock Exchange at 9 a.m. on the same day.
The so-called shooting people first shoots horses, captures thieves first captures the king, Boss Xu didn't expect things to come so suddenly, according to his understanding, isn't it the first to slowly arrest the last one to him? The actual operation is not like this, after Boss Xu was arrested, the headquarters of Evergrande Group was like a ten-level ** that had not been seen in more than 20 years, and the birds flew for a while, and the trees fell and scattered.
In May 2021, at the beginning of the epidemic, Evergrande was exposed to arrears in many places and stopped work.
In August, he dumped the pot and resigned as chairman of Evergrande Real Estate. You can imagine that he resigned from his position and went up to the forty-second floor to talk to someone, you see, these people under his hands are not worry-free, the project is to know that it is taken, and the money will only reach out to the company to ask, how can this be done? They're just a bunch of jackals who can't be fed, and I don't care whose project is responsible for it! When people hear this, they smile slightly, they are very domineering.
On August 19, the People's Bank of China and the China Banking and Insurance Regulatory Commission began to talk to Evergrande, you can't resign and run away, the interests of buyers can not be harmed, and the payment of workers can not be harmed, at that time, Evergrande's foundation is still very thick, Boss Xu did not say a word, injected 7 billion yuan into Evergrande's account to deal with the financial problems faced by the group, and repaid the project arrears, stabilized the people's hearts of buyers, and also exchanged for respite.
Boss Xu is also painful, but there is no way, he can remove the position of chairman of the real estate group, but he can't remove the position of chairman of Evergrande Group.
When the money is spent, it is spent.
Boss Xu exhaled deeply, dressed uprightly, and went to the forty-second floor to inspect with his head held high.
But the good times didn't last long, and the 7 billion yuan soon bottomed out. In December, the people of Guangdong Province began to interview Boss Xu, and sent a working group to Evergrande to thoroughly investigate the problems and difficulties in Evergrande's operation, then this is fatal, but you must know that Evergrande was established in Guangzhou in 1996 by Boss Xu, which is equivalent to his base camp.
Subsequently, the central bank and other four departments collectively responded to the relevant problems of Evergrande's risk debt to the public, and the core point is to stand with the interests of the people! At the press conference, the China Securities Regulatory Commission pointed out that Evergrande's poor management and blind expansion led to increased risks, which is a case-by-case risk. But then the conversation changed and I still wanted to give Evergrande a few good words, saying that Evergrande's financial and operating indicators are generally healthy and the risks are controllable.
This crisis was finally resolved, Boss Xu was relaxed and happy, and began to set up a risk mitigation committee. Come on, come on, the babies of the song and dance troupe, let's continue dancing and playing! In the future, this kind of thing, your risk mitigation committee will deal with it, I have fought all my life now, then it should be your turn to fight and fight, you can't rely on me for everything, Evergrande is not my alone, otherwise what's the use of raising you?
The Evergrande Risk Mitigation Committee was established, but the crisis that followed directly overwhelmed them.
Three months later, Evergrande Property was surprised to find that 13.4 billion yuan in the account had been enforced by the relevant banks. This amount is not small, Boss Xu only paid 7 billion before, and he was apprehensive, but this time he doubled it, and the risk resolution committee itself is at risk, let alone resolved. According to the hindsight, that is, someone instructed to use this money to offset the account, and Evergrande's rhythm began to be chaotic.
An even bigger storm is starting to come.
In June, Evergrande's creditors applied to the Hong Kong court for liquidation, and since then, Evergrande has postponed hearings eight times, but the debts are like a flood of beasts.
In July, Evergrande couldn't bear it, and its domestic debt began to default for the first time. Boss Xu is sweating like rain, this risk mitigation committee is actually not established, after all, they can't resolve it at all, this thing, that's a matter of pure money, but the key is that there is not so much money, he is also puzzled in his heart, where did we go with so much money? It is a joke that a trillion-dollar enterprise is being collected for debts every day.
In September, Evergrande couldn't even submit its semi-annual report and didn't dare to disclose financial and debt information. At that time, the national policy of guaranteeing the delivery of buildings was also very tight, Evergrande began to be at a loss at this time, Boss Xu didn't even have the heart to go to the forty-second floor, after all, he couldn't fill so many pits, and there were not so many pockets in his pocket that he had the confidence to take out his hands and be seventy small goals.
The Spring Festival of 2023 is a cold winter for Evergrande, and the heating on the forty-second floor is turned on to the maximum, which can't warm Boss Xu's heart, he looked out the window, and what he saw in his eyes was no longer the vigorous sunrise, but the remnant sun of the hero's twilight.
There is not much time left for Evergrande.
In March 23, just after the Spring Festival, Evergrande had the strength to announce the preliminary plan for overseas debt restructuring, relying on real estate is not reliable, the water of this real estate is too deep, so deep that he, a person who has experienced a hundred battles, is now shuddering, he can only take Evergrande Automobile to fight.
In July, Evergrande Automobile resumed trading, but the reality slapped Boss Xu a few times, the effect is not optimistic, Boss Xu gave up resistance, climbed the forty-second floor for the last time, and finally looked at the scenery here ......
Subsequently, Evergrande's atomic bomb came! Evergrande reissued its financial report, and as of the end of 22, Evergrande's total liabilities exceeded 24 trillion yuan! And there are only a few 43 on the company's account3.4 billion yuan, Boss Xu was shocked, the big tree of Evergrande was tall, but the inner one was gnawed hollow by insects.
In August, Evergrande Property resumed trading in Yibo, detecting the wind direction, and the wind direction was probed, but Boss Xu was also about to cool, and in September, Xu Jiayin was taken compulsory measures because he was suspected of violating the law and committing crimes.
Boss Xu said goodbye to his chairman's office, to the forty-second floor, to the flower-like employees, and to the executives in suits and leather shoes.
With the imprisonment of Boss Xu, the Evergrande department was suspended again, and Evergrande lost its backbone and came out of the storm.
In January 2024, Evergrande Property fought back and sued the parent company for misappropriating its 13.4 billion yuan, and the farce of the son suing the mother happened under the noses of 1.4 billion people.
Time has come this year, last month, Boss Xu was bored in prison, so he pulled Liu Yongzhuo, chairman of Evergrande Automobile, into chat, this person's crime is not small, and he was criminally detained on suspicion of violating the law and committing crimes.
When other people see it, it's okay? According to statistics, Evergrande had more than 200,000 employees when it was in the limelight, and in the past two years, it has quietly lost 160,000 people.
But it's also sighing.
Not long ago, the High Court of Hong Kong issued a winding-up order against Evergrande, take away all this garbage, don't dirty the place.
Now Evergrande, I'm afraid there is only one way to disintegrate, after all, if it still exists, then this debt will inevitably be counted on their heads, which may also be the reason why Evergrande Property strives for.
The spring breeze is coming, the New Year is approaching, the previous boss Xu and the babies spent the New Year on the forty-second floor, this year he wants these executives who are gradually being pulled in to celebrate the New Year on the negative floor of the basement, I don't know what he is thinking more about looking out of the window now? It's this 2How to make up for the 4 trillion holes, or how to go to the 300 flowers, whether to pull all the relevant people in or let them go as much as possible, it is very complicated, and it is not something I can imagine.
Waiting for Boss Xu will be the most severe sanction of the law, of course, all this depends on the realization of his meritorious service, Evergrande has actually done a lot over the years, especially in helping the poor, I don't know if this will also become the basis for his meritorious service?
His merits and demerits will be left to everyone to comment.,Anyway, I think this 2.4 trillion debts, that's not what he built up alone, just like he shouldn't be the only one in prison now.
I am afraid that it is unreliable to rely on Boss Xu to pay off the debt, he took it from the buyer, in addition to leaving it for himself and his family, I am afraid that it has long been dispersed, and those Evergrande executives must be the same, I am afraid that this debt will eventually fall on the heads of the people, in the name of tax payment floating a few points and so on for a while may be enough, although this is a method, but I think this method is too hurtful, after all, why? It's better to start from the source, first take Evergrande, and then take those who have interests with Xu Jiayin's own Evergrande executives, and make up for the insufficient regulators, and then the insufficient financial institutions to make up for it, then this hole can always be filled, right?
The forty-second floor is still there, but it must be empty, don't say three hundred beauties, I'm afraid there is not even a front desk, without the boss they will have no home, these wonderful flowers, that can also be scratchy, no wonder Boss Xu will sink into it and find it difficult to extricate himself.
I don't know what you think about Boss Xu and Evergrande, please leave a message below, let's work together! The article is a bit long, thank you for reading so far, praise for you!
The New Year is coming, and I wish you all a happy and happy New Year!