Original title: Evergrande’s board of directors added China Cinda executives to participate in the huge debt?
Operator Finance Kang Zhao / Text
On the evening of January 23, China Evergrande (03333.HK) announced that since January 23, Liang Senlin was appointed as a non-executive director, Xiao En was appointed as an executive director, and the two former executive directors of Evergrande resigned. . Since Liang Shulin is a senior executive of China Cinda, and China Cinda is one of the four major state-owned non-performing asset disposal companies in China, the change of the board of directors of Evergrande Group has attracted attention.
The board of directors of Evergrande Group was originally executive directors Xu Jiayin (Chairman), Xia Haijun (CEO), Pan Darong, Shi Junping, Hao Lixin, Huang Xianliang, and independent non-executive directors Zhou Chengyan, He Qi, Xie Hongxi. Today, Hao Lixin and Huang Xianliang are not directors, only senior executives, while Liang Lin is a non-executive director, and another new member of the board, Sean, is the head of Evergrande Auto and an insider of Evergrande.
Previously, in September 2020, a letter of help from Evergrande was circulated on the Internet, bluntly saying that Evergrande’s current interest-bearing liabilities are as high as 835.5 billion, and the cash flow may be broken, which may cause financial system risks and affect employment, people’s livelihood and social stability. Therefore, I hope the relevant departments Can release Evergrande Real Estate backdoor Shenfang A to return to the domestic capital market. The relevant state departments revealed that at present, Evergrande owes a total of 1.97 trillion yuan on its books.
Not all of this money is owed to domestic banks. On the one hand, Evergrande has issued a large amount of bonds abroad, and on the other hand, it uses commercial bills to pay the supplier’s payables. On the surface, it is a delay in the account period. In fact, many commercial bills are finally settled. Unable to redeem.
Wind data shows that from 2018 to 2020 and the first half of 2021, Evergrande’s current liabilities were 1.16 trillion yuan, 1.35 trillion yuan, 1.51 trillion yuan and 1.57 trillion yuan, while the non-current liabilities in the same period were only 4,100 yuan. 100 million yuan, 0.5 trillion yuan, 0.44 trillion yuan and 0.39 trillion yuan.
That is to say, the debt payable of Evergrande Group is very large, and the short-term debt is also very large. Liang Shulin, who joined the board of directors of Evergrande this time, has been the chairman of China Cinda (HK) Holdings Co., Ltd. since May 2019. It is definitely not accidental that he joined the board of directors of Evergrande Group at this time. He must have come to help deal with debts. Can’t let Evergrande Group go bankrupt?