Core Viewpoint - China Evergrande (03333.HK) is set to lose its listing status starting August 25, as the liquidators continue legal actions against founder Xu Jiayin and other former executives for asset recovery and accountability [2][3]. Group 1: Legal Proceedings and Financial Recovery - The 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 [2][3]. - The Hong Kong High Court has issued injunctions preventing Xu Jiayin, his ex-wife Ding Yumei, and Xia Haijun from disposing of or reducing their global assets valued at 60 billion HKD (approximately 55 billion RMB) [2][3]. Group 2: Allegations of Financial Misconduct - The liquidators allege that the defendants violated their responsibilities by approving the annual financial statements for 2018 to 2020 and the unaudited interim financial statements for 2019 to 2021, amidst confirmed financial fraud within Evergrande [3]. - Evergrande's financial misconduct involved premature revenue recognition, leading to inflated income and profits for 2019 and 2020 [3]. Group 3: Asset Disclosure Issues - Xia Haijun has been uncooperative in disclosing overseas assets, with evidence suggesting his wife holds assets worth $24 million (approximately 170 million RMB) in the U.S., which the liquidators believe he controls [2][8]. - The court has recognized that Xia Haijun's wife is merely an agent for his assets, as he has been living in California and concealing various personal assets [10][11]. Group 4: Additional Legal Developments - The Hong Kong High Court has approved the addition of Xia Haijun's wife as a defendant in the ongoing legal proceedings [15].