After 4 months**, Xu Jiayin completely failed! Evergrande is dying
China Evergrande issued a statement on September 28 this year, saying that Xu Jiayin had been arrested on suspicion of violating national laws. But although Xu Jiayin has just entered, many people have hopes for it, because Evergrande's debt is as high as 24 trillion, related to the vital interests of the country and the people, belongs"Big but not defeated", Xu Jiayin's return is not far away.
This piece is not the comeback of Xu Jiayin that the public expects, but it is right"Liquidation"of anticipation. On January 29, 2024, the Hong Kong High Court ruled that Evergrande shares will be ***"Liquidation", but the company has declared bankruptcy on January 29 this year. In Hong Kong it is called"Liquidation", and on the continent called"Bankruptcy liquidation"。There is no substantial difference between the two. Once bankrupt and Evergrande goes bankrupt, Evergrande will be isolated by the court, and creditors will take over Evergrande's property and restructure Evergrande's property. And this step also represents the end of Xu Jiayin and Evergrande.
But now, Evergrande and Xu Jiayin have unshirkable responsibilities. After the Evergrande incident, ** gave Xu Jiayin enough"Help yourself"opportunity, however, Xu Jiayin is playing"Guaranteed delivery"At the same time, he secretly transferred a large amount of money abroad, and finally ended up in prison. In the face of the Hong Kong High Court"Winding-up order"Henderson repeatedly requested an extension of 19 months, but still refused to assist in the submission of the relevant documents, resulting in a declaration of bankruptcy.
This also means that Evergrande Group will completely withdraw from the market, without the blood of the capital market, the fate of Evergrande Group is doomed. Even if Xu Jiayin hopes to take advantage of Evergrande's turnaround and take out one billion yuan by himself, there will be no chance of a comeback.
Xu Jiayin is certainly at fault, but in the eyes of ordinary people, they are not at fault, they just stepped on it"Evergrande"This is the scale of the scale, that's why it suffered this catastrophe! Once it was"Draw the ground as a dungeon", then they are really more than lucky!
1.Employees of Evergrande.
Excluding vehicles and real estate, Evergrande has 25,000 employees, some of whom have not been paid their salaries on time, according to the figures. However, the risk of these companies is relatively low, because in the bankruptcy liquidation of Hong Kong, the order of repayment can be: employee wages, secured creditors, settlement expenses, unsecured creditors, so even if Evergrande is currently in arrears, it can be paid as usual after the employees' wages are settled. But many people have invested in Evergrande, and they haven't gotten the money until now, and this money is also taking a lot of risks.
2.Creditor.
Now Evergrande has fallen into an extreme state of bankruptcy, excluding the pre-sale loan of commercial housing, nearly 18 trillion yuan, of which about 600 billion comes from bank loans, and about 1 trillion yuan from various suppliers. In Evergrande's earlier more aggressive debt restructuring plan, Evergrande believes that creditors with sufficient funds can get up to 934% of the total amount. Moreover, after the settlement, the creditors will be able to receive much less than this ratio.
3.Potential shareholders.
I would say that these people are desperate people. Evergrande's liquidation is equivalent to will"Mess"It was pushed to the whole society, and even the whole nation. Even after the liquidation, Evergrande does not have enough funds to ensure delivery, but fortunately, the liquidation is limited to the listed company and its equity, and there is not much impact on Evergrande's operation in the mainland. But what the truth is, no one knows.
The experience of Evergrande and Xu Jiayin has reminded major enterprises that "too big to be defeated" is not true at all, no matter how big the company is, no matter how big the force, it must abide by laws and regulations, otherwise it will endanger the country and the people, make blind investment, and eventually be resisted by the people! will be seriously educated by the relevant departments, and then be tempted by all kinds!