Several key events in recent days may indicate that the Evergrande crisis will usher in a "grand finale" in a sense. Incident 1: Recently, according to relevant reports cited by Gelonghui, Xu Jiayin has been transferred to a special detention center in Shenzhen to make it ea

Several key events in recent days may indicate that the Evergrande crisis will usher in a "grand finale" in a sense.

Incident 1: Recently, according to relevant reports cited by Gelonghui, Xu Jiayin has been transferred to a special detention center in Shenzhen to make it easier to communicate with Evergrande senior officials. Cooperate with the follow-up work of Evergrande’s liquidation team.

Previously, in September 2023, Hong Kong stock China Evergrande (03333.hk) announced that Xu Jiayin had been subject to compulsory measures in accordance with the law.

Until now, exactly one year has passed.

There are two key messages in this media report:

, Xu Jiayin is "in good health";

, Xu Jiayin "wrote a letter to the company's senior management, urging them to speed up the settlement of the payment issue for investors in financial products."

Incident 2: html According to news on September 11, the British court made the latest ruling on Xu Jiayin’s ex-wife Ding Yumei to withdraw up to 20,000 pounds (equivalent to more than 180,000 yuan) per month as living expenses.

This move resulted from the liquidator seeking about US$6 billion in dividends and emoluments from seven defendants including Xu Jiayin and Ding Yumei in the name of China Evergrande. The pursuit resulted in Ding Yumei's assets being frozen.

Incident Three: On September 13, the China Securities Regulatory Commission and the Ministry of Finance issued a "top-level" fine to PricewaterhouseCoopers Accounting Firm, and fined and confiscated a total of 441 million yuan to PricewaterhouseCoopers in accordance with the law. The reason is that it covered up and even condoned Evergrande Real Estate’s financial fraud and fraudulent issuance of corporate bonds.

Description of three key events:

. Xu Jiayin did not die, and the natural debt was not eliminated.

For all creditors, the day Xu Jiayin is there, the day the debt is there. Xu Jiayin once said publicly that we never hire bodyguards because debts disappear when the person dies. As long as the person is here, the bank will be at ease. At present, it seems that Xu Jiayin is not only alive, but is also urging the company's senior executives to repay debts.

This gives creditors great confidence. On September 13, 2024, the Hong Kong stock market of Evergrande Automobile (00708.hk) rose by more than 30% during the session.

Since its listing in 2009, China Evergrande has paid a cumulative dividend of 73.386 billion yuan. Xu Jiayin and his wife have controlled about 70% of the equity of China Evergrande for many years, and may have taken away more than 50 billion yuan in total. As the liquidators pursue the assets of Xu Jiayin and others in the name of China Evergrande, the "Evergrande Group" has gradually been separated from Xu Jiayin and has become the creditor of Xu Jiayin and others. The "escape plan" jointly formulated by

, Xu Jiayin and his ex-wife failed.

After the Evergrande crisis broke out, Xu Jiayin and Ding Yumei went through a "technical divorce." According to Phoenix.com, Xu Jiayin also set up a 2.3 billion trust fund for his son, and had long been prepared to transfer assets.

Before Xu Jiayin was arrested in 2023, Ding Yumei had already fled overseas from Hong Kong and went to hide in the UK.

In July 2024, the Hong Kong court issued an injunction to Ding Yumei, temporarily freezing the property in Ding Yumei’s name. Immediately afterwards, the British court also issued an injunction to Ding Yumei, temporarily freezing Ding Yumei's property globally. This time, the British court further stipulated the maximum living expenses that Ding Yumei can withdraw each month.

There is usually mutual judicial recognition between the 56 Commonwealth countries around the world.This also means that creditors’ global pursuit of Xu Jiayin has begun.

In fact, Xu Jiayin’s creditors are all over the world, and Evergrande’s total dollar debt is as high as 19 billion US dollars.

and the "network of relationships" behind Xu Jiayin are being liquidated one after another.

PricewaterhouseCoopers, one of the world’s four largest accounting firms, has played an important role in Evergrande’s years of fraud.

However, PwC, the "foreign monk", is obviously just the "little Karami" in this major crisis.

Three feet of ice does not freeze in one day.

In November 2023, Sun Deshun, the former president of China CITIC Bank , was sentenced to death with a suspended death sentence and life imprisonment in connection with a 979.5 million case. According to "Southern Metropolis Daily", Sun Deshun had previously been a "white knight" for Evergrande. During Sun Deshun's administration, China CITIC Bank made large loans to Evergrande Group through various channels both on and off the balance sheet.

In April 2023, according to the website of the Central Commission for Discipline Inspection and the State Supervision Commission, Jiang Liming, the former director of the Rural Small and Medium-sized Financial Institutions Supervision Department of the Bank of China Regulatory Commission, seriously violated disciplines and laws, was suspected of accepting bribes, and was expelled from the party. According to market news, Jiang Liming resigned from the former China Banking Regulatory Commission in November 2016. After that, Jiang Liming went to Evergrande Group to serve as the chief supervisor and later the vice president of Evergrande Group.

……

The “revolving door” of domestic and foreign institutions, politics and business behind the Evergrande crisis is being peeled off.

At this point, Xu Jiayin’s fate is neither important nor unimportant.

More than 2 trillion yuan in debt, thousands of owners are waiting eagerly, and the industrial chain is in crisis. There must be an explanation.

The above views are for reference only