13.4 billion "puzzles" were unveiled, Evergrande's "No. 2 figure" resigned, is Xia Haijun injustice?
Author:Kanjie Finance Time:2022.07.24
After the tide retreats, people always pay for the previous radical.
On July 22, Evergrande Property and China Evergrande issued an announcement saying that Evergrande Property provided pledge guarantees with a regular deposit deposit form, and provided loan financing to China Evergrande and its subsidiaries through third -party companies. Later, because China Evergrande Group failed to repay the loan on schedule, the pledged deposit was forced to execute.
In other words, after four months of investigation, Evergrande Property's 13.4 billion yuan deposit pledge was forcibly implemented by relevant banks.
Evergrande property claims that the executive directors Xia Haijun and Pan Darong, and Ke Peng, the executive president of the subsidiary Evergrande Group Co., Ltd., participated in the relevant arrangements.
Therefore, Evergrande requested six relevant executives to resign.
It is worth noting that Xia Haijun was previously an "No. 2 figure" of Evergrande, and has always been the powerful general of Xu Jiayin.
According to data, Xia Haijun joined Evergrande in 2007. It is reported that at that time, in order to recruit Xia Haijun, Xu Jiayin said that if Xia Haijun was willing to come to Evergrande, he could be the vice chairman of the board of directors and executive vice president. Let him.
In this way, Xia Haijun was sincerely moved by Xu Jiayin to join Evergrande.
In fact, Xia Haijun became the president three months after joining China Evergrande, and Evergrande's No. 2 figure.
In the past seventeen years, Xia Haijun assisted Xu Jiayin at the helm of Evergrande. During his tenure in Evergrande, Xia Haijun was alone and truly made Xu Jiayin rest assured and peace of mind. In 2017, the total market value of China Evergrande exceeded 400 billion Hong Kong dollars, and the annual sales exceeded the 500 billion mark, becoming the second largest real estate company in Country Garden after the "Cosmic Real Estate Enterprise". The highest time of Evergrande.
So that when Danke's chairman Yu Liang was asked how to view Evergrande and Country Garden beyond Vanke, he replied: "Vanke is not interested in being a boss."
In addition to trust in Xia Haijun, Xu Jiayin also has absolute "care" in salaries.
According to 2017, Forbes released the "Hong Kong Listing CEO CEO List", and Xia Haijun topped the list with 270 million yuan. According to Evergrande's financial report, the salary of Haijun in the summer of 2020 still reached 200 million yuan.
According to Evergrande insiders, Xia Haijun does not like to discuss his salary problem. According to the statistics of relevant Evergrande financial reports, Musto Finance has been salary in Evergrande in the 12 years of the listing of Evergrande China in China. In fact, Xia Haijun's resignation is not without a warning. According to the statistics of the Times Weekly, Xia Haijun has not appeared in Evergrande's official activities for more than 400 days. The last time he attended the public event of Evergrande was in June 2021.
After July 2021, Xia Haijun began to frequently reduce the holdings of Evergrande's bonds and selling shares.
In summary, the funding problem of Evergrande Property is not just Evergrande's own problem.
According to the relevant securities regulations, major transactions and major related guarantees of listed companies need to disclose information on investors. Obviously, Evergrande has not disclosed the matter, and has been suspected of infringing investors' right to know. If there are relevant investors conduct accountability, China Evergrande and Evergrande Property are likely to be held accountable or punished by regulatory.
In my opinion, for such a huge amount of violation guarantee, it has caused huge losses in Evergrande property and investors. It must not be possible to resign so simple. Subsequent supervision also needs to be punished strictly to prevent the incident again.
At present, China Evergrande has promised to take out the reorganization plan by the end of July, and as time is approaching, Evergrande's question may have answers, but the most important task in the future is still the insurance. Successfully, Evergrande's problem can finally solve it smoothly.
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