Core Viewpoint - China Evergrande Group is set to lose its listing status starting August 25, as legal proceedings against its founder Xu Jiayin and other executives continue amid ongoing liquidation efforts [1][3]. Group 1: Legal Proceedings and Financial Claims - The Hong Kong High Court issued a liquidation order for China Evergrande 18 months ago, appointing liquidators to recover debts owed to overseas creditors [3]. - Liquidators are pursuing claims against seven defendants, including Xu Jiayin and former CEO Xia Haijun, for approximately $6 billion (around 43 billion RMB) in dividends and compensation received from 2017 to 2020 [3]. - The liquidators have also obtained injunctions to restrict the defendants from disposing of or reducing their global assets valued at 60 billion HKD (approximately 55 billion RMB) [3]. Group 2: Allegations of Financial Misconduct - The liquidators allege that the defendants violated their responsibilities by approving financial statements that misrepresented the company's financial health during 2018 to 2020 [3]. - Evergrande's financial fraud has been confirmed, with the company inflating revenue and profits through premature revenue recognition [3]. Group 3: Asset Concealment and Legal Developments - Xia Haijun is accused of failing to disclose overseas assets, with evidence suggesting his wife holds assets worth $24 million (approximately 170 million RMB) in the U.S. [1][10]. - The court believes Xia Haijun is the actual controller of these assets, which include multiple properties and vehicles in California [10][12]. - The Hong Kong High Court has approved a temporary injunction against Xia Haijun's wife's assets, requiring her to appear in court for hearings [16].
恒大前行政总裁夏海钧，被曝藏身美国加州而非加拿大！妻子在美持有资产达1.7亿元，12岁儿子就读于加州一所私立学校