China Fund News reporter Taylor
Xu Jiayin has new news again!
The Shanghai and Shenzhen Stock Exchanges imposed disciplinary sanctions on Evergrande Real Estate and Xu Jiayin
Late at night on September 30, the Shenzhen Stock Exchange issued a disciplinary decision against Evergrande Real Estate Group Co., Ltd. and Xu Jiayin and other relevant parties.
The Shenzhen Stock Exchange made the following sanction decisions:
1. Evergrande Real Estate Group Co., Ltd. shall be given the disposition of not accepting the submission of bond issuance and listing application documents or listing transfer application documents for three years.
2. Xu Jiayin, then chairman and actual controller of Evergrande Real Estate Group Co., Ltd., and Xia Haijun, then vice chairman of the board of directors and president of China Evergrande Group, the controlling shareholder, were publicly determined to be unsuitable for life as directors, supervisors and senior managers of the bond issuer; Pan Darong, then chief financial officer of China Evergrande Group, and Pan Hanling, then vice president and general manager of the financial center of Evergrande Real Estate Group Co., Ltd., were publicly determined to be unsuitable to serve as directors, supervisors and senior managers of the bond issuer for ten years. During the identification period, the above-mentioned persons shall not continue to hold the positions of directors, supervisors or senior management of the original bond issuer, nor shall they serve as directors, supervisors or senior managers of other bond issuers.
3. Give Evergrande Real Estate Group Co., Ltd. the sanction of public reprimand.
4. Xu Jiayin, then chairman and actual controller of Evergrande Real Estate Group Co., Ltd., Pan Hanling, then vice president and general manager of the financial center, Ke Peng and Zhen Litao, then presidents, Qian Cheng, then assistant to the president and vice president and general manager of the financial center, Zhao Changlong, then chairman and general manager, Xia Haijun, then vice chairman of the board of directors and president of China Evergrande Group, and Pan Darong, then chief financial officer of the controlling shareholder China Evergrande Group.
On September 27, the Shanghai Stock Exchange also imposed disciplinary sanctions on Evergrande Real Estate and Xu Jiayin and other relevant responsible persons.
China Evergrande Liquidators Launches New Website: Anyone is welcome to provide useful information to assist in the sale of assets
On September 27, China Evergrande announced on the Hong Kong Stock Exchange that the company's joint and individual liquidators announced the launch of a new website to facilitate any member of the public who is aware of the group's affairs to provide relevant information and assist the liquidators in investigating and selling the group's assets. At the same time, China Evergrande will continue to suspend trading until further notice.
According to the website, the main duties of a liquidator include preserving the company's assets, returning value to creditors and other stakeholders, and investigating the reasons that led to the winding up of the company.
While reviewing the company's historical records, the liquidators encouraged anyone with knowledge of Evergrande's affairs or information about the company to contact them.
Liquidators welcome useful information to help them narrow the scope of their investigations and expedite the return of value to creditors and other stakeholders.
On September 17, according to the Hong Kong Economic Daily, China Evergrande was ordered to be liquidated at the beginning of this year, and the Hong Kong High Court ruled that the founder Xu Jiayin had to repay 5.3 billion yuan of debts to Hexin Hengju, a subsidiary of CITIC Group, otherwise he would sell his property to pay off the debt according to the pledge order.
Looking back, on June 25 this year, Hexin Hengju submitted an application to the High Court of Hong Kong, requesting Hui Ka Yin to surrender the vacant property of Cheung King House in Tsim Sha Tsui under a charge order. The application will be heard by the Court.
On September 17, the above-mentioned case was officially heard, and Hexin Hengju asked Hui Ka Yin to hand over the vacant property in Tsim Sha Tsui held by him, and sold it under the direction of the court, and the case was heard in the Hong Kong High Court on September 16, and the court approved the execution of the charge order in the absence of Hui Ka Yin, and the property will be sold by auction to repay part of the debt.
It is understood that for Xu Jiayin, the property involved in the case is considered by the outside world to be an "old and dilapidated" property, located in Room A on the 6th floor of Xiangjing Building, No. 144 Austin Road, Kowloon. According to the information, the property is a two-bedroom and one-living room with an area of about 375 square feet (about 34.8 square meters).
Although the property belongs to the "old and small" sequence, according to Hong Kong media reports, this belongs to Xu Jiayin's early involvement in the real estate business to earn the first pot of gold, in 1999 to spend 1.75 million Hong Kong dollars to buy, is Xu Jiayin's first property in Hong Kong, and is also the only property held by Xu Jiayin in Hong Kong's personal name.
On the evening of September 25, Evergrande's "second-in-command" Xia Haijun was banned from the securities market for life by the Securities Regulatory Commission and fined a total of 15 million yuan.