Core Points - The deputy general manager of Shanghai Sulian Da Real Estate Development Co., Chen Huaichen, is under investigation for serious violations of law, which raises concerns about the quality of the "Red Plate" project, An Gao Shen Chen Yuan, in Shanghai [3][7] - Anhui Transportation Holding Group (Anhui Jiaokong) has aggressively expanded into the Shanghai real estate market, spending over 13.6 billion yuan from 2021 to 2024, but has paused land acquisitions due to declining revenue and profit pressures [3][10] Group 1: Company Investigation - Chen Huaichen, the deputy general manager of Shanghai Sulian Da, is being investigated by the Tongling Municipal Supervisory Commission for serious violations [3][7] - The An Gao Shen Chen Yuan project has faced complaints from homeowners regarding construction quality issues, including uneven wall tiles and obstructed views [3][6] Group 2: Market Performance - Anhui Jiaokong's real estate subsidiary, High-speed Real Estate, achieved sales of over 16.1 billion yuan in 2023, a 23.2% increase year-on-year, making it the only Anhui-based real estate company to surpass 10 billion yuan in sales [5] - The An Gao Shen Chen Yuan project saw significant sales, with 322 units sold for over 2.36 billion yuan in August 2023 and 308 units for 2.51 billion yuan in November 2023 [5] Group 3: Financial Challenges - Anhui Jiaokong reported a revenue of 25.66 billion yuan in the first half of 2024, down from 27.37 billion yuan in the same period the previous year, with a profit of 4.57 billion yuan compared to 5.08 billion yuan [10] - The company faces significant debt pressure, with short-term loans reaching 4.91 billion yuan and non-current liabilities due within a year totaling 13.07 billion yuan as of June 2024 [10]