Xu Jiayin Archives - Mingtiandi

Receivers Take Over Hong Kong Mansions From Entities Linked to Evergrande Boss

Beatrice Laforga — Wed, 22 Nov 2023 14:52:53 +0000

A creditor has taken over two mansions on Hong Kong’s Peak once valued at a reported HK$1.5 billion ($192 million) in the latest seizure of assets linked to fallen mainland billionaire Xu Jiayin and his China Evergrande Group.

Land Registry... Read More>>

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Evergrande Says Chairman Suspected of Crimes, Subject to “Mandatory Measures”

Michael Cole — Thu, 28 Sep 2023 17:09:56 +0000

In an announcement to the Hong Kong stock exchange late on the eve of China’s Mid-Autumn Festival holiday on Thursday China Evergrande Group followed up on media reports that its chairman is in police custody with a confirmation of criminal... Read More>>

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CapitaLand India Trust to Buy Bengaluru IT Park and More Asia Real Estate Headlines

Christopher Caillavet — Thu, 19 Jan 2023 12:09:37 +0000

In today’s roundup of regional news headlines, Singapore-listed CapitaLand India Trust agrees to acquire a Bengaluru IT park at a future date, and data centre giant Global Switch reaches an impasse with its potential buyers.

CapitaLand India... Read More>>

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Evergrande Fires CEO and CFO Over Alleged Illicit Loan Scheme

Christopher Caillavet — Mon, 25 Jul 2022 11:57:09 +0000

China Evergrande forced its chief executive and chief financial officer to resign last week, citing their involvement in a scheme in which loans secured by pledge guarantees were transferred and diverted back to the debt-saddled developer via unnamed third parties... Read More>>

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Evergrande Said Discussing $2B Sale of Wanchai HQ to Yuexiu Amid Govt Pressure

Mingtiandi Team — Sun, 22 Aug 2021 14:45:20 +0000

Embattled mainland developer China Evergrande Group is in talks to sell its largest single property asset for around $2 billion, according to sources familiar with the discussions who spoke with Mingtiandi.

Yuexiu Property, a branch of the local government of... Read More>>

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Evergrande Founder Steps Down as Chairman of Primary Mainland Unit

Christopher Caillavet — Tue, 17 Aug 2021 14:14:34 +0000

Hong Kong-listed China Evergrande’s share price fell 4.3 percent Tuesday on news that the embattled developer’s chairman, Xu Jiayin, had stepped down from the chairmanship of Hengda Real Estate, the Shenzhen-based group’s main property unit in China.

Xu is no... Read More>>

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Evergrande Weighs Sale of Stake in Auto Unit After $740M H1 Loss

Christopher Caillavet — Wed, 11 Aug 2021 13:08:17 +0000

After China Evergrande New Energy Vehicle Group issued a warning this week that its first-half net loss was expected to nearly double from a year earlier, the car maker’s parent firm — debt-saddled developer China Evergrande — has confirmed that... Read More>>

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Evergrande to Sell Further Stake in Tencent JV for $420M as Unpaid Suppliers Swarm

Christopher Caillavet — Mon, 02 Aug 2021 10:52:44 +0000

Debt-saddled developer China Evergrande Group continues to reduce its shareholding in its Hong Kong-listed internet division, HengTen Networks Group, as it announced plans yesterday to offload a HK$3.25 billion ($420 million) stake.

The news comes less than two months after... Read More>>

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Evergrande Raises Cash by Selling Stakes in Tencent JV, Hangzhou Developer

Christopher Caillavet — Wed, 23 Jun 2021 15:06:04 +0000

China Evergrande Group, the country’s most indebted property developer, is raising some quick cash this week by selling off assets ahead of a scheduled repayment of a $1.47 billion offshore bond maturing next week.

The Shenzhen-based company led by billionaire... Read More>>

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Evergrande Denies Pleading for Govt Support to Avoid Collapse

Michael Cole — Thu, 24 Sep 2020 17:28:52 +0000

Indebted mainland developer China Evergrande Group was forced to deny reports that it was pleading for a bailout yesterday, after a document circulating on Chinese social media indicated that the firm was pleading for government support to avoid financial catastrophe.