Home Business Xu Jiayin re-sells assets Evergrande transfers Shenzhen Bay headquarters land | Shengjing Bank | Epoch Times

Xu Jiayin re-sells assets Evergrande transfers Shenzhen Bay headquarters land | Shengjing Bank | Epoch Times

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Xu Jiayin re-sells assets Evergrande transfers Shenzhen Bay headquarters land | Shengjing Bank | Epoch Times

[Epoch Times, November 12, 2022](The Epoch Times reporter Li Bing comprehensive report) After the Chinese real estate giant Evergrande Group was sued by Shengjing Bank for failing to repay its 32.5 billion yuan debt, Evergrande will use the land originally planned to build its headquarters. Block listing for transfer.

On November 11, the Shenzhen Public Resource Exchange Center issued a land-use right transfer listing announcement “Shentu Jiaobao (2022) No. 68” (hereinafter referred to as the “Listing Announcement”). The “Listing Announcement” shows that the land use rights of T208-0054 located in Shenwan District, Nanshan District, Shenzhen were publicly transferred by way of listing, with a plot area of ​​10,376.82 square meters.

The starting price of the land is 7.543 billion yuan, the land use period is 30 years, and the total construction area is about 289,200 square meters. The parcel of land T208-0054 is currently under mortgage, and the transfer has been approved by the mortgagee.

According to the “Times Weekly” report, the transferor of the T208-0054 parcel is Evergrande Group, and the actual controller of the latter is Xu Jiayin, the founder of Evergrande Group. On December 19, 2017, Evergrande won the T208-0054 parcel at the base price of 5.552 billion yuan, and entered the Shenzhen Bay Super Headquarters Base for the first time.

The “Listing Announcement” shows that the T208-0054 parcel land construction project has been suspended since September 2021, including but not limited to the expiration of the temporary land use period, overdue use of arrears, arrears of construction funds, claims by the counterparty of the contract, rights protection and other issues .

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According to a report by Shenzhen Business Daily, as early as October 2015, Evergrande leased ten floors of the Houhai Center of Excellence to be used as its Shenzhen headquarters. In January this year, the signboard of “Evergrande Group” hanging on the roof of Houhai Center of Excellence was removed. Subsequently, Evergrande responded in an announcement on its official website that in order to save costs, the company went through the lease cancellation procedures of Houhai Excellence Center in December 2021 and moved to its own property in Shenzhen.

In addition to the transfer of the land for its headquarters in Shenzhen, Evergrande has recently made other asset disposal actions in Shenzhen, including the transfer of the urban renewal project of the former United Biscuit Factory in Haiwan Village, Nanshan District, Shenzhen, to China Merchants Shekou.

It is worth mentioning that China Evergrande was sued by Shengjing Bank earlier this month for failing to repay its 32.5 billion yuan debt.

China Evergrande announced on the Hong Kong Stock Exchange on the evening of November 1 that its subsidiary Evergrande Group received an enforcement notice issued by the Intermediate Court of Shenyang City, Liaoning Province. Evergrande Group is the defendant in the civil lawsuit and Shengjing Bank is the plaintiff .

According to the announcement, Shengjing Bank will provide funds to Evergrande Group from 2020 to 2021, with a total of RMB 32.595 billion. At the same time, Evergrande provided a pledge guarantee with its 30.99% stake in Guanghui Group.

Shengjing Bank has sued the court over outstanding funds from China Evergrande.

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In recent years, the debt crisis of China Evergrande Group has attracted the attention of the global financial market. According to China Evergrande’s semi-annual report last year, as of June 31, 2021, its total debt was 1.97 trillion yuan.

In October of this year, Evergrande Real Estate, a subsidiary of China Evergrande, announced a half-year extension of interest on an expired bond. This is the group’s fourth bond recently extended. In addition, 3 companies including Evergrande Real Estate Group (Shenzhen) Co., Ltd. were recently added as persons subject to execution by the Intermediate Court of Huizhou City, Guangdong Province, with an execution target of more than 790 million yuan.

Responsible editor: Sun Yun#

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