Evergrande’s financial crisis has not been resolved, and an exclusive investigation by "Hong Kong 01" found that the chairman Xu Jiayin mortgaged the second large house on Buli Trail on the top of the mountain to the financial company "Orix".
The mansion has a market value of about 800 million Hong Kong dollars and is wholly owned by Xu Jiayin. It was previously used for self-occupation. This is the first time that he has used his personal property to rescue Evergrande.
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Market value of 800 million yuan
Through Giant Hill Limited (Giant Hill Limited), Xu Jiayin owns the detached house at Block C, No. 10 Bulli Path, The Peak. Xu Jiayin is the sole shareholder of Giant Hill. He previously served as a director. He resigned in July this year. "Steward" Tan Haijun served.
According to information from the Companies Registry, Jushan submitted two charging documents on October 9th; the Land Registry records also show that the 10C house was mortgaged to "Orix Asia Capital Limited" on November 8th. .
The 10C house has an area of 5,433 square feet and a market value of about 800 million yuan. The document does not show the amount of mortgage cash.
Evergrande Chairman Xu Jiayin, through his company, owns a detached house at Block C, No. 10, Buli Path, Peak. The company’s director has recently been changed to the "housekeeper" Tan Haijun.
Building 10, Block B, is also held by a related company of Evergrande, and the director is also Tan Haijun.
(Photographed by Liang Pengwei / Drawing by Hong Kong 01)
Xu Jiayin held directly after the acquisition in 2010 for self-occupation
House 10B in Buli Path was also controlled by Xu Jiayin in a roundabout way through an offshore company and had been leased for many years. House 10C was directly controlled by Xu Jiayin.
Sources indicate that after Xu Jiayin was purchased in 2010, it has been used for self-occupation.
In other words, this mortgage confirms for the first time that Xu Jiayin used personal property to rescue Evergrande from the debt crisis.
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Mortgage another mountaintop mansion last month to renew the maturity of the debt
"Hong Kong 01" reported exclusively at the end of last month that Xu Jiayin pledged the 10B house on Buli Trail at the top of the mountain to CCB (Asia) for use as additional collateral for the US$260 million (approximately HK$2.078 billion) bonds with principal and interest due on October 3, In exchange for a three-month grace period.
▼Junlong Bay Building Inspection▼
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The financial company ORIX that undertook the mortgage this time has cooperated with Evergrande in many ways.
Evergrande’s Tuen Mun Soguan Wat property "Junlong Bay" was originally owned by Evergrande’s "Chuangying Finance", which undertook a high score for small owners, commonly known as "breathing plan".
But in the middle of this year, Evergrande required some small owners to sign a confidentiality agreement and turned to ORIX to apply for mortgages. For some existing mortgages, Evergrande also sold them to ORIX in the form of "Assignment of Mortgages."
Revisit the report:
01 Exclusive | Junlong Bay "breathing plan" Evergrande turned to Caizi to make "secondary mortgage" cash out
01 Exclusive | Evergrande Mortgages Xu Jiayin Mountaintop Mansion for Overdue Unpaid USD 260 Million Bond Grace
01 Exclusive | Evergrande Mortgages Xu Jiayin Mountain Top Mansion to Realize 300 Million Yuan
01 Exclusive | Evergrande Xu Jiayin's 1.5 billion Hong Kong Peak Property changed its name to Xufu "Steward" in July
▼Demonstrations by the suffering masters of Evergrande ▼
01 Exclusive | Junlong Bay "breathing plan" Evergrande turned to wealthy people to undertake "subprime mortgage" cash out 01 Exclusive | Evergrande pledged Xu Jiayin's hilltop mansion for overdue unpaid US$260 million bond grace 01 Exclusive | Evergrande mortgaged Xu Jiayin's hilltop mansion Expected to cash out 300 million yuan 01 exclusive | Evergrande Xu Jiayin 1.5 billion Hong Kong Peak Property changed its name to Xu Fu "Steward" senior officials in July at the gathering order dinner | Evergrande high-level executive Chen Fen did not show up in his residence, multiple doubts to be resolved 01 Exclusive | The high-level identity of the suspect in the rape case of Evergrande was exposed
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