Core Viewpoint - The recent social media post from Evergrande Wealth has raised significant public interest, particularly regarding the company's ability to repay investors amid ongoing financial difficulties [1][2]. Company Background - Evergrande Wealth Shenzhen, established in November 2015, is a wholly-owned subsidiary of Evergrande Financial Holdings Group, with a registered and paid-in capital of 1 billion yuan [3]. - The company has been listed as a dishonest executor and has faced challenges in repaying its financial products since the second half of 2021, coinciding with Evergrande Group's debt issues [3][5]. Payment History and Adjustments - The initial repayment plan announced in September 2021 included a 10% repayment of due products by the end of the month, with subsequent payments every three months [5]. - By December 2021, the company committed to repaying 8,000 yuan monthly to each investor for three months, but the repayment process has not proceeded as planned [5]. - As of May 2023, Evergrande Wealth announced insufficient funds for repayment, and by August 2023, it indicated that asset disposal progress was slower than expected, impacting its ability to repay [5][6]. Legal and Regulatory Actions - In September 2023, law enforcement took action against individuals associated with Evergrande Wealth for suspected criminal activities [6]. - The China Securities Regulatory Commission imposed a fine of 4.175 billion yuan on Evergrande Real Estate for fraudulent bond issuance and information disclosure violations [6]. Recent Developments - In November 2024, Evergrande Wealth warned investors about false information regarding repayment processes and emphasized that updates would come from official police announcements [7]. - Reports indicate that significant debts from the "Evergrande system" are being offered for sale, totaling approximately 11.3 billion yuan across various cities and project types [7][8]. Future Outlook - Analysts suggest that the repayment of Evergrande Wealth's financial products will take time, contingent on the resolution of criminal accountability, asset recovery, and the clarification of debt repayment priorities [8].

Group 1 - The article highlights that Xu Jiayin's ex-wife, Ding Yumei, allegedly acquired hundreds of billions in dividends through a "technical divorce" and purchased luxury properties in London for approximately £49.8 million (about HK$5.27 billion) [1][2] - Ding Yumei reportedly purchased 33 units in the Thames City project, with the acquisition occurring in September 2022, nearly a year after authorities urged Xu Jiayin to use personal assets to settle debts [2][3] - Following the court's decision, a global asset freeze order was issued, preventing Xu Jiayin, Ding Yumei, and other executives from handling assets valued at around HK$60 billion, including Ding Yumei's bank deposits and luxury apartments in the UK [4][3] Group 2 - China Evergrande's non-performing assets and debts are being accelerated for disposal, with 12 companies' bad debts totaling approximately 11.3 billion yuan being put up for sale, covering various projects across major cities [7] - Among the disposed debts, one is from Evergrande Real Estate Group, amounting to 1.092 billion yuan, secured by collateral properties in Guangzhou [7] - In January, Evergrande and Xu Jiayin were restricted from high consumption due to a court ruling related to a forced execution of over 6.054 billion yuan [7]

Core Viewpoint - The article discusses the financial maneuvers of Ding Yumei, the ex-wife of Evergrande's founder Xu Jiayin, who allegedly utilized a "technical divorce" to secure hundreds of billions in dividends from Evergrande amidst the company's ongoing loan defaults and asset disposals [1] Group 1 - Ding Yumei reportedly acquired luxury properties in London through five offshore companies, spending £49.8 million (approximately HK$5.27 billion) [1] - She resides in one of the properties valued at £5.4 million (approximately HK$57.15 million) with her two sons and grandson [1] - Evergrande's bad assets are being rapidly disposed of, with 12 companies under the Evergrande umbrella listing bad debts totaling approximately ¥11.3 billion [1] Group 2 - The bad debts involve projects across major cities including Beijing, Tianjin, and Chengdu, covering various types such as residential, commercial, and cultural tourism [1]

Group 1 - The core event involves Ding Yumei, the ex-wife of Xu Jiayin, purchasing 33 luxury properties in London for nearly £500 million through five offshore companies, occurring nine months after Evergrande's default [3][4] - The timing of the purchase raises questions about asset protection strategies, as the divorce in 2018 may have been a financial maneuver to separate assets and mitigate risks associated with Evergrande's debt crisis [3][5] - Ding Yumei reportedly received hundreds of billions in dividends from Evergrande, highlighting the use of offshore companies to hold assets and potentially evade domestic regulations, raising concerns about the legality of these transactions [3][4] Group 2 - The choice of London luxury properties is significant, as they are viewed as "safe-haven assets" during global economic instability, which contrasts sharply with the ongoing debt crisis faced by Evergrande and its impact on domestic homeowners [4][5] - The situation may affect Evergrande's debt restructuring process, as creditors could perceive the asset acquisition as a potential asset transfer, leading to further scrutiny and skepticism [4][5] - The practice of using divorce as a means to protect assets is not uncommon in the financial sector, but it must be conducted within legal frameworks to avoid harming creditor interests, especially in the context of Evergrande's unresolved debt crisis [5]

Core Viewpoint - The article discusses the financial maneuvers of Ding Yumei, the ex-wife of Evergrande's founder Xu Jiayin, who allegedly utilized a "technical divorce" to secure substantial dividends from Evergrande amidst the company's ongoing financial troubles and asset liquidation [1][3]. Group 1: Financial Maneuvers and Asset Purchases - Ding Yumei is reported to have acquired luxury properties in London worth approximately £49.8 million (around HK$5.27 billion) through five offshore companies, following Evergrande's loan default [1][3]. - A court document from January indicates that Ding Yumei purchased 33 units in the Thames City project, with the acquisition date being September 2022, nearly a year after authorities urged Xu Jiayin to use personal assets to settle debts [3][4]. Group 2: Legal Proceedings and Asset Freezing - Following Evergrande's bankruptcy proceedings, the Hong Kong High Court issued a global asset freeze order against Xu Jiayin, Ding Yumei, and other executives, prohibiting them from handling assets valued at approximately HK$60 billion, including Ding Yumei's properties in the UK [4][5]. - Ding Yumei's attempts to amend the asset freeze order and request a closed hearing were denied by the court, which emphasized the public interest in maintaining transparency during the liquidation process [5]. Group 3: Asset Liquidation and Debt Management - Evergrande is accelerating the disposal of its non-performing assets, with 12 companies under the Evergrande umbrella listing bad debts totaling approximately RMB 11.3 billion, covering various projects across major cities [6][7]. - The company has faced restrictions on high consumption due to court rulings related to significant debts, with a forced execution amounting to over RMB 6.054 billion [7].

Core Viewpoint - The article discusses the recent developments surrounding China Evergrande Group, particularly focusing on the financial maneuvers of its founder Xu Jiayin's ex-wife, Ding Yumei, and the ongoing liquidation process of the company. Group 1: Financial Maneuvers of Ding Yumei - Ding Yumei is reported to have acquired hundreds of billions in dividends from Evergrande through a "technical divorce" from Xu Jiayin [2][3] - She purchased multiple luxury properties in London for approximately £49.8 million (about HK$5.27 billion) through five offshore companies [4][6] - The properties were reportedly acquired in September 2022, nearly a year after authorities urged Xu Jiayin to use personal assets to settle debts [5] Group 2: Evergrande's Asset Liquidation - Evergrande is accelerating the disposal of its non-performing assets, with 12 companies under the Evergrande umbrella listing non-performing debts totaling approximately ¥11.3 billion [13] - The non-performing assets are spread across major cities including Beijing, Tianjin, and Chengdu, covering various project types such as residential, commercial, and tourism [13] - In January 2023, Evergrande and Xu Jiayin were restricted from high consumption due to a court ruling related to a forced execution of over ¥6.05 billion [14] Group 3: Legal Proceedings and Court Decisions - The Hong Kong High Court has ordered the liquidation of Evergrande, appointing Edward Simon Middleton and Wing Sze Tiffany Wong as liquidators [8] - The liquidators are pursuing approximately $6 billion in dividends and compensation from Xu Jiayin, Ding Yumei, and other former executives [9] - The court issued a global asset freeze order, preventing the disposal of assets valued at around HK$60 billion, including Ding Yumei's properties in the UK [10][12]

Core Viewpoint - China Evergrande Group is accelerating the disposal of its non-performing assets following a key ruling by the Hong Kong High Court regarding its liquidation process, with a total of approximately 11.3 billion yuan in bad debts being put up for sale [1][3][4]. Group 1: Asset Disposal - A total of 12 non-performing debts from the "Evergrande system" have been listed for sale, amounting to approximately 11.3 billion yuan, marking the largest batch transfer of Evergrande's assets by asset management companies since the company's crisis began [3][4]. - The disposed debts involve projects in nine major cities, including Beijing, Guangzhou, and Tianjin, primarily consisting of unfinished or unsold properties [6][4]. - Specific debts include 2.477 billion yuan related to the Tianjin project, 1.387 billion yuan for a project in Beijing, and 1.604 billion yuan for a project in Zhengzhou, among others [6][7]. Group 2: Overseas Liquidation Challenges - Concurrently, the company is facing significant challenges in its overseas liquidation process, with the Hong Kong High Court appointing joint liquidators for its subsidiary, CEG Holdings [8][11]. - The liquidators aim to preserve the group's assets for the benefit of creditors, but the complexity of international legal procedures poses difficulties in asset recovery [12][11]. - The liquidators have indicated that Evergrande's overseas assets available for disposal are less than 10 billion Hong Kong dollars, including shares in Evergrande Property and other investments [11][12].

Core Viewpoint - The "Evergrande system" has placed 12 companies' non-performing debts on the market, totaling approximately 11.3 billion yuan, with the debts primarily held by China Great Wall Asset Management Co., Ltd. [1][2] Group 1: Non-Performing Debts Overview - The total amount of non-performing debts involved is about 11.3 billion yuan, with projects located in major cities such as Beijing, Guangzhou, Tianjin, Chengdu, and others [2][4] - The largest debt is from Tianjin Shanshui City Investment, amounting to 2.477 billion yuan, secured by 1,204 residential units in the Tianjin Wuqing District [2][4] - Other significant debts include approximately 1.604 billion yuan from Zhengzhou Henzetong Health Investment and 1.675 billion yuan from Chengdu Jinjianjiang Real Estate [4] Group 2: Specific Company Debts - Beijing Hengfangxing Real Estate has a total debt of 1.387 billion yuan, backed by the New Yufeng project [4] - Zhengzhou Henzetong Health Investment has a debt of about 1.604 billion yuan, with collateral from the Xingyang Health Industry Park [4] - The debt from Wuxi Hengrui Real Estate is approximately 549 million yuan, secured by the Wuxi Hengda·Guanlanfu project [4] - Ningbo Jingshun Real Estate has a debt of about 757 million yuan, backed by the Fenghua Health Tourism Town [4] - The total debt from three related companies in Guiyang is 1.142 billion yuan, involving collateral from Hengda Central Park projects [4] Group 3: Company Actions and Legal Proceedings - On June 9, China Evergrande announced the appointment of joint and individual liquidators for its subsidiary CEG Holdings and continued its stock suspension [5][6] - The Hong Kong court appointed liquidators for CEG Holdings on April 28, 2025, to manage the liquidation process [7] - The company has faced legal actions, including a court order from the Guangzhou court restricting consumption due to failure to fulfill payment obligations [10]

Core Insights - Recently, several companies under the "Evergrande system" have had their non-performing debts listed for sale by China Great Wall Asset Management Co., with a total amount of approximately 11.3 billion yuan [1][3] - The non-performing debts involve 12 projects across 9 cities, with collateral including land, ongoing construction, and real estate [1][3] - The largest debt is from Tianjin Shanshui City Investment, amounting to 2.477 billion yuan, secured by 1,204 residential units in the Tianjin Wuqing District [1][3] Debt Details - Beijing Hengfangxing Real Estate has a total debt of 1.387 billion yuan, backed by the New Yufeng project and guaranteed by Evergrande [3] - Zhengzhou Hengzetong Health Real Estate has a debt of approximately 1.604 billion yuan, with collateral from the Xingyang Health Industry Park [3] - Wuxi Hengrui Real Estate's debt stands at about 549 million yuan, secured by the Wuxi Evergrande project [3] - Ningbo Jingshun Real Estate has a debt of approximately 757 million yuan, with multiple parties providing guarantees [3] - Nanchang Hengfu Real Estate's debt is 604 million yuan, backed by land and equity pledges [3] - Evergrande Group itself has a debt of 1.092 billion yuan, secured by 25 residential units in Guangzhou [3] - The total debt from three related companies in Guiyang is 1.142 billion yuan, involving collateral from the Evergrande Central Park project [3] - Chengdu Jinjingjiang Real Estate has a total debt of 1.675 billion yuan, secured by multiple properties [3] - Tianjin Shanshui City Investment's total debt is 2.477 billion yuan, backed by residential properties in the Tianjin Wuqing District [3] Company Status - China Evergrande (HK03333) is currently suspended from trading, with liquidators requesting creditors to submit proof of claims [4] - On June 9, China Evergrande announced the appointment of joint and temporary liquidators for its subsidiary CEG Holdings, continuing its trading suspension [4]

处于清盘中的恒大， 旗下不良资产在加速处置。 近日，"恒大系"12家公司不良债权被集中摆上货架，拿出来招商，债权总额约113亿元，12笔不良资产的持有人均为长城资产北京市分公司，涉及的项目遍布北京、 天津、南昌、成都等多个一、二线城市，涵盖住宅、商业及文旅等多个类型项目。 值得一提的是，6月9日晚间，中国恒大公告，继针对CEG Holdings发出清盘令后， 中国 香港法院于2025年4月28日委任安迈顾问有限公司的Edward Simon Middleton 及黄咏诗为CEG Holdings的共同及各别清盘人，该委任已于2025年4月28日生效，5月12日公告所述的撤销转让申请，将改由CEG清盘人及CEG Holdings清盘人处 理。 恒大百亿不良债权待价而沽 据阿里资产交易平台披露的信息，"恒大系"12家公司不良债权被集中摆上货架，债权总额约113亿元，12笔不良资产的持有人均为中国长城资产管理股份有限公司北 京市分公司，项目所在地涉及北京、天津、南昌、成都等地。 具体来看，例如北京的不良债权，有一笔债务人为北京恒房兴置业有限公司，截至2025年4月底，总债权13.87亿元，其中债权本金11.86亿元 ...