福建地产首富，栽了！

Core Viewpoint - The article discusses the dramatic decline of Taihe Group and its founder Huang Qiseng, highlighting the company's fall from a peak sales of over 100 billion yuan to a state of insolvency and legal troubles, reflecting the broader challenges faced by the Chinese real estate industry [3][16][25]. Group 1: Company Background - Taihe Group was once a leading player in the real estate market, achieving sales exceeding 100 billion yuan in 2017 and earning Huang Qiseng the title of Fujian's real estate tycoon, appearing on the Hurun Rich List nine times [8][4]. - Huang Qiseng founded Taihe Group in 1992 after leaving a stable job at a bank, and the company expanded rapidly, becoming notable for its luxury properties [7][8]. Group 2: Recent Developments - On August 22, 2023, Taihe Group announced that Huang Qiseng was under investigation for alleged legal violations, leading to his detention by the Liaoning Provincial Supervisory Committee [3][10]. - The company faced significant penalties from the Fujian Securities Regulatory Bureau, including a fine of 6 million yuan for failing to disclose major lawsuits and significant omissions in annual reports from 2020 to 2022 [13][15]. Group 3: Financial Troubles - Taihe Group has been in a state of insolvency, with debts exceeding 1.87 trillion yuan against total assets of approximately 1.65 trillion yuan, resulting in a negative net asset value of 238.14 billion yuan [23]. - The company has been under increasing legal pressure, with ongoing lawsuits amounting to over 10% of its net assets, and additional non-major lawsuits adding to its financial burdens [24][25]. Group 4: Market Impact - The company's stock was delisted from the A-share market in August 2023 after its share price fell below 1 yuan for 20 consecutive trading days, marking a significant downturn in its market presence [20][23]. - Despite receiving 9.47 billion yuan in government relief funds, Taihe Group continues to face risks of asset liquidation and further financial distress due to ongoing market challenges in the real estate sector [23][24].