Core Viewpoint - China Evergrande Group has been delisted from the Hong Kong Stock Exchange due to its failure to meet the resumption guidelines set by the exchange, marking the end of its trading history [1][2]. Group 1: Company Financials - As of June 30, 2023, China Evergrande's total liabilities reached 2.39 trillion yuan, while its total assets were only 1.74 trillion yuan, indicating insolvency [2][7]. - The company has been under liquidation since January 29, 2024, following a court order from the Hong Kong High Court [5]. Group 2: Legal and Regulatory Issues - The Hong Kong High Court ruled that only statutory creditors could participate in the liquidation process, excluding economic interest holders [6]. - China Evergrande has faced numerous legal challenges, with 1,533 significant litigation and arbitration cases involving amounts over 50 million yuan, totaling 431.26 billion yuan from January 1, 2020, to August 31, 2023 [8]. Group 3: Management and Leadership - Chairman Xu Jiayin and several key executives have been detained on suspicion of illegal activities, raising concerns about corporate governance [7][10]. - Xu Jiayin's family has reportedly benefited significantly from dividends, with nearly 700 million yuan distributed from 2009 to June 2021, despite the company's financial troubles [9]. Group 4: Asset Management and Transfers - The liquidators are pursuing 6 billion USD in dividends and salaries from Xu Jiayin and his ex-wife Ding Yumei to recover losses for creditors [14]. - Assets belonging to Xu Jiayin, including luxury properties and private jets, have been frozen by the court as part of the liquidation process [14].
被港交所退市，许家印遭重挫，中国恒大告别历史舞台！总负债高达2.39万亿元，许家印家族靠分红套现500亿，已经与丁玉梅“技术性离婚”，恒大的钱究竟去了哪？