Xu Jiayin, as a former giant in the real estate industry, led China Evergrande Group finally went into liquidation, and the turmoil finally came to an end. This is not just the end of a business, but the end of an era.
Recently, the High Court of Hong Kong officially issued a winding-up order for China Evergrande, and the once invincible Xu Jiayin finally ushered in the final ending.
Liquidation is a term in Hong Kong, and bankruptcy liquidation is generally used in the mainland to describe it. That's right, China Evergrande officially entered the bankruptcy liquidation procedure in Hong Kong. To put it mildly, it is to deal with it"Aftermath"Finish.
Evergrande Group was once a leader in China's real estate industry, but behind the glamour of high-rise buildings, there was a huge debt quagmire. Face up to 2With a huge debt of 4 trillion yuan, Evergrande seems to be powerless and has fallen into a difficult situation. The Evergrande Group, under the leadership of Xu Jiayin, struggled with a debt crisis, and after two years of delays and delays, it was full of dramatic epicness.
Procrastination seems to have become the only means for Evergrande to survive in the face of adversity. Since June 2022, Evergrande has repeatedly applied for extensions, which have been frequently accepted by the courts. This delay not only provides Evergrande with a respite, but also makes the outside world full of uncertainty about its future.
However, the final declaration of liquidation showed the powerlessness and helplessness of Xu Jiayin and Evergrande Group in the face of difficulties.
Xu Jiayin's actions and decisions over the past two years have been questioned. Performative resumption of work, technical divorce, all kinds of small actions show that Boss Xu has no intention of cleaning up the mess at all, and the obvious procrastination attitude and lack of positive action have gradually accumulated into irreversible consequences. In the end, this delaying strategy led to Evergrande's "end of the play", and Xu Jiayin was forced to face a twist of fate.
The news of the liquidation is undoubtedly a worse blow to the nearly 1 million owners of the houses that have not been handed over. The dream of a home for millions of owners has become precarious, and they are facing great uncertainty and pressure.
While laws and policies provide some protection and remedy, the complexity and lengthy nature of resolving issues means that homeowners have to endure longer waits and greater uncertainty. Of course, there is no need for these owners to be overly anxious, ensuring the delivery of the building is one of the primary livelihood tasks at present, but there will be a sequence when saving the project.
After all, this needs to be supported by money, and the kind of project that can be revived with a small amount of money will most likely be ranked first, and then it will be a difficult project that requires a lot of financial support.
The liquidation story of Xu Jiayin and Evergrande Group is not only a turning point in personal fate, but also a mirror of China's real estate market. This incident reflects the huge challenges and problems facing the real estate industry today.
This is an opportunity for deep reflection and re-examination for the industry and the general public.
This "end of the play" has left many questions worthy of our deep thought, and has also brought us new thoughts and enlightenment.