Author: Kafka is busy source: outsider’s horizon (id:hooyar_380097485)
Finally, some creditors could not help asking Evergrande to liquidate.
Everyone said that boss Xu was playing the trick of dragging a knife. He resolutely refused to give an account to the creditors in China. He patted his chest every day and sang a high profile. It is impossible to pay hengchi’s car in June. Even in September, don’t count on it.
No matter how stupid the supply chain of the automobile industry is, it has seen the tragic situation of its peers in the real estate supply chain. When the industry has a promising future, who will go to the boss’s big hole?
Even if a big company is buying parts with a large amount of cash, there is no need for a supplier to come to the door. The reason is very simple. To increase production capacity, you need to increase investment. For a big company, you need to increase production investment. Isn’t this a case of being caught in the door? When everyone thinks that you are a one shot deal, no one will make a long-term investment for you.
What’s more, where can a big company get a lot of cash now? Whenever there was some money in the account, creditors from all walks of life would have flocked to it.
In March, Evergrande property reported that the deposit of 13.4 billion yuan was enforced. Who owns the 13.4 billion yuan? Most of the property management fees paid in advance by the owners are now gone. How can we do the property management work?
Capable creditors have already collected the money, and now the rest are waiting there.
In fact, boss Xu is also waiting, procrastinating and bragging all the time, because he is not willing to wait for the market to be rescued. He plans to lie flat in the end and use a trick to drag the knife until finally let others pay for his shamelessness.
The day before yesterday, Ren Zeping and YuMinHong broadcast the live broadcast together. They talked about the evaluation of boss Xu: Xu Jiayin is very entrepreneurial and adventurous. We can’t easily comment on him as a king and a loser.
So what is entrepreneurship? As the name suggests, if an enterprise becomes bigger, it is social, so its responsibility is not its own. The money it earns must be skillfully put into its own pocket. For example, it colludes with PwC to make a beautiful profit account, and then takes the opportunity to pay dividends. Anyway, 50billion yuan of the book will go to its family’s overseas business account.
Will the $50billion, together with those executives who have been receiving huge salaries for years, be returned? Dream! It is the business of the enterprise that has made a hole. The other person is a limited liability company. Yuanmou, the God of wine, was afraid that he would cry and faint in the toilet.
So you see, if you put enough money in your own pocket, you will have the backing. Then you will have greater courage. Of course, you will have the spirit of adventure, because you are afraid of what he will do if you take risks with social money?
So how can we judge it by becoming a king and defeating an enemy? Those who dare to take responsibility are qualified to clap their chests and shout that they will win the king and defeat the enemy. Those who are ruthless are unlikely to win. There is only one way to lose. But he has already picked himself up. You can’t settle him with the enemy.
To tell you the truth, if I get a salary of 50 million yuan and earn a huge reputation, I won’t make a scandal about my former boss. Who has a grudge against money? Even if the annual salary is millions, it will take half a century to get this number. It’s too late to be grateful. What else can you say?
But don’t look up to the sky. Look at the ordinary people below who have been harmed by the ambition of the boss.
Last year, I wrote that another fan of Evergrande was a small supplier. He was even more miserable. After he was owed money, he was fooled into turning to financial management. Moreover, there were conditions for turning to financial management. He had to take another sum of money, and his half life savings became a victim of financial fraud.
For a long time, I have seen the news that Evergrande’s large enterprises involved in the bankruptcy of Evergrande are close to bankruptcy, but those sporadic and trivial victims are too insignificant to be exposed.
Now boss Xu San doesn’t know if he can jump out and say some heroic words. There is still a lot of cash lying in his offshore account. Even in the United States, there is the rich mansion of Mr. Xu’s son.
Recently, boss Xu passed on the plan of dragging the knife to announce the restructuring plan at the end of July. However, since last year, creditors have been waiting for no confidence. Can anyone still believe him?
Domestic creditors have no choice, but Hong Kong creditors are not so talkative.
On June 24, a strategic investor of Evergrande RV Bao filed an application to the court of Hong Kong, China, requesting Evergrande to liquidate.
In those years, Evergrande raised funds everywhere in HK in the name of RV treasure, and promised that if Evergrande’s RV treasure could not be listed within one year, Evergrande would pay 115% of the repurchase price to recover the shares held by investors.
Is this the same way that Evergrande used backdoor listing to deceive domestic investors to take over the offer? In 2020, does anyone still remember the online blackmail to save the market?
Poor zhangdongdong, Suning’s boss, who was so intimate with boss Xu that he had to drink a cup of wine, lost tens of billions. He couldn’t go to the market at the expiration of the time and couldn’t pay back the money. He had to bear with tears to change his equity. As a result, he got his own thunder.
Hong Kong investors are impatient with him now. The capital applied for this time is only HK $865.5 million, even with interest, which is nothing compared with Evergrande’s total debt of rmb2trillion.
Evergrande made an announcement this morning.
China Evergrande announced that a debtor filed a liquidation petition against Evergrande to the Hong Kong High Court on June 24, involving about HK $865.5 million in debt. In response, Evergrande said that this debt was only 1% of Evergrande’s total overseas liabilities, which did not affect Evergrande’s debt restructuring process in the mainland. At the same time, Evergrande strongly opposed the liquidation application.
Evergrande has been dragging on for so long from last year to this year. When I think of 2020, Evergrande has already started a debt crisis. Anyone who dares to question on the Internet will immediately be surrounded and suppressed by Evergrande’s public relations department. If you say something to the point, it will immediately be a lawyer’s letter warning.
I have articles that have been 404. The funniest thing is that there are suppliers who have made it clear that they are going to be victims and jumped out to accuse me.
So why is boss Xu so crazy about pursuing scale? Doesn’t he know the risk he faces? To put it bluntly, he was fooled by the glory of an entrepreneur. They are all limited liability companies. It is their own glory to make them bigger. They can run an internal newspaper to praise themselves as chairman Xu. But when they make a problem, the larger the scale, the bigger the basket. This is a bet that they can be big but not fall down. What loss can they have?
So there was an accident. It was too big. In 2020, 120billion yuan was resolved, so we stepped up the pace of dividends and issued more high interest dollar bonds to transfer assets.
As soon as the negative news came out in 2021, he immediately tried to solve the problem of US dollar debt with all the money on his book. As for who bought the US dollar debt, ha ha, the financial newspapers have long reported that Mr. Xu’s relatives and friends copied the bottom of Evergrande’s US dollar debt.
You see, when his own interests are well protected, will he be in a hurry to solve the problem?
He will only try his best to procrastinate. As long as he procrastinates, he will still be chairman Xu. As for those unlucky creditors, the longer they procrastinate, the more frustrated they will be and the more able they will be to bear the solution of big discount. As long as they are willing to deal with bad debts and recover them at a discount of 1-20, they will make a lot of money?
As for the Baojiao building that is called every day, it is a show. How can all parties be so willing to be dragged to death by him without throwing a bait? If you are forced to solve the problem quickly, people will surely lie down on the spot at the first time, and then shift the responsibility for failing to deliver the building onto you.
Who can shoulder such a heavy responsibility for people’s livelihood?
So I don’t believe Evergrande can take the initiative to come up with any reliable solution before the end of July.
However, after dragging on, every time the creditors are called to talk, it is a kind of blunt knife to cut meat. The creditors are tortured more. In the end, they really want to get rid of it quickly and don’t want to toss about any more.
Victims of Stockholm syndrome, in turn, cling to their perpetrators.
Although Evergrande’s sword dragging trick is very powerful, boss Xu is not the only smart person in the world.
Overseas investors are not stupid. They know that most of Evergrande’s property is in China. How can Evergrande’s plan of dragging the knife be relied on? In the end, they still have to give priority to paying domestic creditors. In the end, there will be very little money to be given overseas. They can’t take the private property of their boss to offset it.
Therefore, for overseas creditors, instead of waiting for Evergrande to drag them to death, they might as well take the initiative to ask for liquidation, ask to take over domestic assets first, and auction them first, so as to maximize their own interests.
However, even if the HK court supports the case, the civil lawsuit can be delayed for a period of time. Even if the civil judgment is finally made, I’m afraid I can’t find any enforceable property in China.
It’s just that they owe money, the private property that the Xu family has taken out, or they have other ways to solve their problems privately.
A real estate tycoon once threw down his debt and ran away. Finally, he was forced back by overseas debt collectors. Some money was not so easy to lose. It is easy to bully honest people, but not everyone is honest.
The common people have a simple moral outlook, and they all think that those who have done bad things should get retribution, otherwise there will be no justice.
I don’t know if boss Xu, who is used to living a luxurious life, can still sleep calmly.