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Core Viewpoint - The article discusses the ongoing debt liquidation process of Evergrande Group, highlighted by the judicial auction of a luxury property owned by Xu Huojian, the nephew of Xu Jiayin, which reflects the broader implications of the debt crisis on related parties and the real estate market [3][6][24]. Group 1: Property Auction and Debt Crisis - A luxury property in Guangzhou, owned by Xu Huojian, is undergoing judicial auction, marking a significant event in the Evergrande debt liquidation process [3][6]. - The property was previously listed for sale at 68 million yuan in March 2025 but failed to transact, now becoming a judicial auction item [5][6]. - The auction's final price and ownership will serve as a window into the asset disposal progress of the Evergrande Group [6][24]. Group 2: Xu Huojian's Business Connections - Xu Huojian is closely tied to the Evergrande Group, serving as a director at Guangzhou Evergrande Industrial Group, which is legally represented by Xu Jiayin's ex-wife, Ding Yumei [7][8]. - He is also a shareholder in Guangzhou Yaxu Decoration Design Co., which likely participated in Evergrande's renovation projects, indicating a deep business connection [10][11]. Group 3: Legal and Financial Implications - Xu Huojian faces significant financial constraints, with 31 restrictions on high consumption, indicating severe pressure on his financial situation [12]. - The debt crisis has affected not only Evergrande but also its associated companies, as seen in the halted IPO of Guangzhou Chuang'er Biotechnology due to frozen shares held by Ding Yumei [14][18]. - Legal actions against Xu Jiayin and the Evergrande Group are intensifying, with substantial amounts involved in ongoing court cases, highlighting the severity of the debt situation [19][21]. Group 4: Broader Market Impact - The comprehensive liquidation process of Evergrande is not just about the company but serves as a warning to the entire capital market regarding compliance and risk management [25][26]. - The unfolding events emphasize the need for market participants to adhere to regulatory standards and recognize the risks associated with family-linked business structures [26][27].