A storm that shook the industry has finally come to an end:Xu Jiayin, a former real estate giant, officially declared liquidation of China Evergrande under his leadership.
This is not only the end of an enterprise, but also the end of an era.
From glamorous high-rise buildings to reluctance to liquidation, the rise and fall of Evergrande is undoubtedly an epic full of drama.
How Xu Jiayin survived the turmoil for two years in delay, and what made this liquidation drama that had been postponed many times finally come to an end.
High-rise buildings, banquet guests, building collapsed", this sentence seems to have become the epitome of Evergrande Group, depicting the process from glory to decline vividly.
As a former real estate giant, Evergrande is facing a whopping 2When the 4 trillion yuan of astronomical debts is extremely difficult, it is almost impossible to return to the sky.
Under Xu Jiayin's leadership, Evergrande's debt crisis did not happen overnight, and there were early signs of its tight financial situation.
What really shocked the outside world was that in the desperate situation of insolvency, Evergrande was still able to hold out for two years, and every extension and every self-help attempt during this period all reflected the gamble of time and the uncertain expectation of the future.
Evergrande's persistence and struggle is not only a struggle against the internal predicament, but also a challenge to the outside world.
Procrastination seems to have become the only way for Evergrande Group to struggle to survive in the face of adversity.
Since June 2022, when creditors first filed a winding-up petition with the court, Evergrande embarked on a long and contentious road to extension.
As time and time again, the courts have accepted the extension requests, and the question arises as to why the courts frequently grant these requests for extensions. The logic behind this is not simple, and it is not just a partiality towards Evergrande.
The court's decision takes into account a wider range of factors, including consideration for the livelihood of thousands of Evergrande employees, the balance of interests for creditors at large, and even the possible ripple effects on the overall socio-economic environment.
These postponements have provided Evergrande with valuable respite and restructuring opportunities that should have been an opportunity for it to redeem itself. Unfortunately, such opportunities are not fully exploited and cherished.
Evergrande's story becomes a complex interpretation of time, opportunity, and responsibility, reflecting the intricate relationships and impacts between the individual and the collective in a huge economy.
In the past two years, Xu Jiayin's series of actions have made people reflect.
His various actions in public, such as announcing the resumption of work and the divorce in his private life, seem to silently convey a message: Xu Jiayin may have long been unable to control the future of Evergrande Group.
This obvious procrastination attitude and lack of positive action gradually accumulated into irreversible consequences, which eventually led to Xu Jiayin's **.
This incident not only marked a turning point in the fate of individuals, but also reflected on a deeper level the harsh criticism and punishment of a series of past inactions.
This result is not only a personal punishment for Xu Jiayin, but also a reflection of the long-term accumulation of problems of Evergrande Group that has not been effectively resolved.
This series of events, from superficial incidents to deep-seated systemic problems, reveals that in a crisis, even giants can gradually lose their way and eventually collapse due to a lack of effective responses.
For those Evergrande owners who were full of expectations, the news of the company's liquidation was undoubtedly like a thunderbolt from the clear sky.
It's not just a question of millions of properties that have yet to be delivered, it's a major concern for the dreams and futures of countless families.
These families have put their hopes and money into the Evergrande project, looking forward to one day having a warm home.
However, the news of the liquidation has put all this in jeopardy, and their future hangs by a thread like those houses that have yet to be built.
While laws and policies can provide some level of protection and remedy to ensure that affected owners receive a certain level of compensation or resolution, the complexity and lengthy nature of the process means that owners face great uncertainty and long waits.
Not only do they have to deal with the risk of losing their homes, but also the financial and emotional strain associated with them during this trying time, which is a severe test for many families.
Xu Jiayin's "end of the whole play" is not only a turning point in personal fate, but also a microcosm of China's real estate market. This incident reflects the many challenges and issues facing the real estate industry today.
For the industry and the general public, this is an opportunity to reflect and re-examine. The quagmire of debt, the art of procrastination, self-help and non-help, these are all questions worth pondering.
Ultimately, patience and persistence are perhaps the qualities they need most right now for those who have not yet handed over their homes.
Although the story of Evergrande has come to an end, it has only just begun to think about it.