第一财经根据公开信息梳理，迄今已有超过15家国内知名品牌房企的理财产品发生风险。2021年9月， 中国恒大名下的恒大财富公告停止兑付。随后，佳兆业（01638.HK）下属的锦恒财富、阳光城内部员 工理财、中国奥园（03883.HK）的关联理财产品等在2021年四季度至2022年初逾期。随后，更多千亿 级别房企也陆续出现类似情况。进入2023年，金科股份、远洋集团（03377.HK）等也相继被业内曝出 员工理财产品逾期。 深圳一位专注于地产金融的资深人士向第一财经分析，多数较早出现员工理财问题的房企，目前已建立 了债务处置框架，风险处置工作正在推进。例如，通过"以房抵债"、制定分期现金兑付方案等方式，相 关风险已从最初的"燃点状态"进入"核心风险已显性化、正在缓慢排解"的阶段。 例如，7月8日，"佳兆业集团控股"微信公众号发布公告称，自2021年11月起，该公司全力盘活资产回笼 资金，已连续完成43期锦恒财富产品现金兑付，通过现金、实物抵债、财产权信托等方式，累计完成锦 恒财富76%投资款及63%投资人的兑付。 公开信息显示，在本轮行业调整中，目前也有万科等头部房企，尽管部分区域项目因收益分配问题出现 争议，但 ...

Core Viewpoint - The recent revival of Evergrande Wealth's official Weibo account, after seven years of silence, has sparked significant speculation regarding the current state of the Evergrande Group and its founder Xu Jiayin's financial commitments [2][4]. Group 1: Company Status - Evergrande Wealth in Shenzhen is currently listed as a dishonest executor and has failed its annual review, indicating potential operational restrictions [4][8]. - The last update from the Evergrande Wealth account was in March 2018, highlighting a long period of inactivity before the recent post [2]. Group 2: Financial Commitments - Xu Jiayin had previously promised in September 2021, during the initial payment crisis, that investors would not lose their investments, stating, "I can have nothing, but the investors of Evergrande Wealth cannot have nothing!" [4][6]. - Despite these assurances, over two years later, investors have yet to receive their full returns, raising concerns about the fulfillment of these commitments [6][8]. Group 3: Impact on Stakeholders - The ongoing financial crisis of Evergrande Group not only threatens the company's survival but also affects countless families who invested their life savings into Evergrande Wealth products [8]. - The recent developments reflect severe internal management issues within the Evergrande Group, as indicated by the unusual official communication from a company in such a precarious state [4][8].

Core Viewpoint - The recent social media post from Evergrande Wealth has raised significant public interest, particularly regarding the company's ability to repay investors amid ongoing financial difficulties [1][2]. Company Background - Evergrande Wealth Shenzhen, established in November 2015, is a wholly-owned subsidiary of Evergrande Financial Holdings Group, with a registered and paid-in capital of 1 billion yuan [3]. - The company has been listed as a dishonest executor and has faced challenges in repaying its financial products since the second half of 2021, coinciding with Evergrande Group's debt issues [3][5]. Payment History and Adjustments - The initial repayment plan announced in September 2021 included a 10% repayment of due products by the end of the month, with subsequent payments every three months [5]. - By December 2021, the company committed to repaying 8,000 yuan monthly to each investor for three months, but the repayment process has not proceeded as planned [5]. - As of May 2023, Evergrande Wealth announced insufficient funds for repayment, and by August 2023, it indicated that asset disposal progress was slower than expected, impacting its ability to repay [5][6]. Legal and Regulatory Actions - In September 2023, law enforcement took action against individuals associated with Evergrande Wealth for suspected criminal activities [6]. - The China Securities Regulatory Commission imposed a fine of 4.175 billion yuan on Evergrande Real Estate for fraudulent bond issuance and information disclosure violations [6]. Recent Developments - In November 2024, Evergrande Wealth warned investors about false information regarding repayment processes and emphasized that updates would come from official police announcements [7]. - Reports indicate that significant debts from the "Evergrande system" are being offered for sale, totaling approximately 11.3 billion yuan across various cities and project types [7][8]. Future Outlook - Analysts suggest that the repayment of Evergrande Wealth's financial products will take time, contingent on the resolution of criminal accountability, asset recovery, and the clarification of debt repayment priorities [8].