China's Evergrande (3333) debt crisis has not been resolved. Xu Jiayin had previously mortgaged two large houses on Buli Path on the top of the mountain. An exclusive investigation by "Hong Kong 01" found that Xu Jiayin still holds a third large mansion on Buli Path, namely No. 10E. Room.
According to the loan documents, Xu Jiayin mortgaged the 10C and 10E houses with a total market value of about 1.8 billion yuan to the finance company "ORIX", plus two offshore company guarantees, and borrowed a total of 82123 million yuan.
One of the guarantee companies is related to his wife Ding Yumei.
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Loan documents accidentally expose Xu Jiayin's third hilltop mansion
Xu Jiayin, through Giant Hill Limited (Giant Hill Limited), owns a luxury house of 5,433 square feet in Block C, No. 10 Bulli Path, Peak.
Xu Jiayin is the sole shareholder of Jushan. He previously served as a director. He resigned in July this year and was replaced by the "housekeeper" Tan Haijun.
"Hong Kong 01" checked the loan documents submitted by "Jushan" to the Companies Registry and found that the loan was related to "Good Bond Limited" (Good Bond Limited), which owns Block 10 E.
The signature on behalf of "Hao Bang" is also Tan Haijun, director of Ju Shan and steward of Xu Jiayin.
In other words, the loan documents revealed that Xu Jiayin originally owned the third hilltop mansion.
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Larger area, market value of 900 to 1 billion yuan
House 10E has a larger area, with a market value of about 900 to 1 billion yuan.
Documents show that the 10E house was rented out for about 600,000 yuan per month.
The 10B and 10C houses exposed earlier are Xu Jiayin's roundabout holdings through offshore companies and direct holdings, respectively. The market values of the two houses are 700 million yuan and 800 million yuan respectively.
The director of "Good State" is named Lin Yan (LIN Yan), who is registered with his ID card and residential address in Chaozhou City, Guangdong Province; the sole shareholder of Good State is "Canon Enterprise Co., Ltd." registered in the British Virgin Islands (BVI). (Give Power Enterprises Limited).
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.
The No. 10 Building B is also held by a related company of Evergrande, and the director is also Tan Haijun.
(Photo by Leung Pengwei / Drawing by Hong Kong 01)
Loan circuitous wife Ding Yumei related company guarantee
According to the loan documents, "Jushan" and "Good State" are each other's chargor and borrower. The two companies are mortgaged to the financial company "Orix Asia Capital Limited" (Orix Asia Capital Limited). The maximum loan amount is 82123 million yuan.
The other two offshore companies were loaned as additional guarantors, namely "Xinrong Limited" registered in the Cayman Islands and "Canon Enterprise" of the BVI company.
Among them, "Xinrong" is related to Xu Jiayin's wife Ding Yumei.
"Tianxin Holdings Limited" (Tianxin Holdings Limited), where Ding Yumei is a director, is Xinrong as the sole shareholder.
In 2018, Xu Jiayin and his wife Ding Yumei went back to the countryside of Henan to visit relatives.
(Photo from the official website of China Evergrande)
Earlier, Xu Jiayin reported that he was required to use private assets to pay off debts.
"Hong Kong 01" has exclusively disclosed last month that Xu Jiayin pledged to CCB (Asia) the 10B house on Buli Trail on the top of the mountain 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 grace period of three months.
The financial company ORIX that undertook the mortgage this time has cooperated with Evergrande in many ways.
Evergrande’s Tuen Mun Soguan Wat’s real estate "Junlong Bay" was originally owned by Evergrande’s "Chuangying Finance" to provide small owners with a high score commonly known as "breathing plan", but in the middle of this year, Evergrande’s request department A small owner signed a confidentiality agreement and turned to ORIX to apply for a mortgage. For some existing mortgages, Evergrande also packaged and sold it to ORIX in the form of "Assignment of Mortgages."
▼Junlong Bay Building Inspection▼
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Revisit the report:
01 Exclusive | Xu Jiayin mortgages the first certificate of the second hilltop mansion to save Evergrande with private property
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 of the suffering masters of Evergrande in various places▼
01 Exclusive | Xu Jiayin mortgaged the second mountaintop mansion with the first certificate to save Evergrande 01 Exclusive | Junlong Bay "breathing plan" Evergrande turned to wealthy people to make a "secondary mortgage" to cash out 01 Exclusive | Evergrande mortgaged Xu Jiayin's mountaintop mansion for Overdue unpaid US$260 million bond grace 01 exclusive | Evergrande pledged Xu Jiayin’s Hilltop Mansion to cash out 300 million RMB 01 exclusive | Evergrande Xu Jiayin’s 1.5 billion Hong Kong Hilltop property changed its name to Xufu "Steward" Senior Officials Violating Restricted Gathering Order | Involved Rape of Evergrande high-level Chen Fen did not show up in his residence, multiple doubts to be resolved 01 Exclusive | The identity of the rape suspect, Evergrande high-level, was exposed and attended a senior official illegal gathering dinner
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