Author/Golden Child
Evergrande collapsed after all.
Yesterday, the Guangdong Provincial Government sent a working group to Evergrande Headquarters.
This means that Xu Jiayin completely quit the self-help game and gave up.
It is estimated that many relatives have made a muttering, a few days ago, Xu Jiayin also sold villas and planes to raise money to save himself, how can he resist in the blink of an eye?
Only because the debt is too big, even the thickest paper can't cover the fire.
What was the last straw that overwhelmed Evergrande?
According to an announcement issued by the Hong Kong Stock Exchange late at night, Evergrande's notice of a guarantee obligation of US$260 million may lead to creditors demanding that the debt maturity be accelerated.
What is "accelerated expiration"?
As you may not know, many dollar bonds often use cross-default clauses and accelerated maturity clauses to avoid risks. If one bond defaults, it triggers the immediate maturity of all bonds.
This means that Evergrande will erupt into a creditor run.
This is a nightmare that Xu Jiayin and Evergrande dare not think of!
Because, in order to protect their own interests, overseas creditors can apply for Evergrande bankruptcy and auction!
Fate is such a fantasy.
Yesterday was the new richest man, and now he is the bankrupt king.
It is true that gold is full of boxes, silver is full of boxes, and beggars with open eyes are slandered.
Why did Evergrande take the initiative to invite the provincial working group to come out and preside over the work?
First, because Xu Jiayin no longer has a good strategy, Evergrande really can't carry it. The government had to be asked to coordinate with a number of financial institutions at home and abroad.
Second, because the working group has always been stationed in Evergrande's branches and stationed in Evergrande's headquarters, it is logical.
Xu Jiayin sold houses and airplanes, and his posture was extremely high, and he turned his face and asked the government to break the siege.
When you make money, the profit is kept to yourself; when you lose money, you cry out to the government.
This abacus is a fine one.
Not long ago, there were media reports that Xu Jiayin raised funds by selling 3 villas in Hong Kong, luxury houses in Guangzhou and Shenzhen, and several private jets, and injected more than 7 billion yuan into the group.
Boss Xu proved to the outside world in an almost "miserable" way that in order to realize Evergrande's commitment to resume work and production and guarantee the delivery of buildings, as the chairman of the board of directors of the group, he is taking the lead in setting an example.
Evergrande's debt, Boss Xu repaid, you say enough to fight righteousness?
Online hot reviews, Xu boss real man!
However, everyone has forgotten that people have already paid dividends of more than 50 billion yuan.
The big and the small, the primary school students can calculate.
Look at how scary is Evergrande's total debt?
According to media reports, Evergrande's debt is as high as 1.95 trillion yuan! The amount of financial debt alone is about 600 billion!
What is this concept?
Equivalent to 2% of China's total annual GDP!
Zheng Shuang earns 2.08 million a day, enough cattle, right?
This 1.97 trillion yuan needs Zheng Shuang not to eat or drink, from the Zhou Dynasty to the present.
Xu Jiayina district of 7 billion, just a cup of water.
Therefore, the ultimate purpose of "selling miserably" to repay debts is to make a gesture to the government and society, and finally to ask the government to come forward.
The biggest foreshadowing turned out to be here.
Capital has always been a good means.
In 2016, the state proposed "housing is not speculation", and Evergrande is still marching on the road of expansion.
In 2017, it even topped China's richest man.
For a time, the reputation was greatly enhanced, and the land of Shenzhou was very popular.
How many people, climbing the dragon and attaching to the phoenix, try to catch meat and share the soup?
Boss Ma's circle of friends, one aura after another retreated
How many ordinary people, thinking that it is good to cool under the big tree, rush to invest with fame?
However, who would have thought that the seemingly powerful universe of the first real estate company, in an instant, debt thunderstorms?
How many families and companies have collapsed, and how many people have not been able to sleep at night?
Facts have proved that it is not enough to be "big" in the enterprise.
Big but not strong, it is an illusory bubble after all.
Some people ask, why does the state not care?
If you manage too much, people will say, interfere in the market economy!
In fact, the state has long been aware.
Five years ago, people's daily published a blockbuster article: "The first quarter of the opening season asks the general trend - authoritative people talk about the current Chinese economy."
In the article, authoritative sources issued a warning:
Trees cannot grow up to the sky, and high leverage is bound to lead to high risks.
Last year, it was issued: pay attention to the risk of the new "big and can't fall".
Capital world, capital is big.
Wall Street can control the United States, and the chaebols dare to manipulate the South Korean government.
However, in China, capital will never be allowed to envelop the country.
Don't speculate, don't look at who said this?
Since the Evergrande thunderstorm, "the house cannot be sold, the car cannot be built, the loan cannot be borrowed, and the debt cannot be repaid."
People are worried that Evergrande will become China's version of "Lehman Brothers".
Who is Lehman Brothers?
The fourth largest investment bank in the United States.
It was also the culprit that triggered the US subprime mortgage crisis in 2008.
In the end, the success is also subprime, and the defeat is also subprime. Lehman Brothers, a self-proclaimed financial innovator, threw away its armor in the subprime mortgage crisis and eventually went bankrupt.
Evergrande is not Lehman Brothers, nor can it be made Lehman Brothers.
Behind Evergrande, there are many suppliers and hundreds of thousands of owners. This is not just an economic issue, but also a social one.
Now the government has come forward to solve the problem as a whole, but the debt is still Evergrande's debt, and it still needs Evergrande to cut meat to repay the money. Jin Ziduo believes that the country is not a long time ago, and it will not be easy to go to the bottom.
At this time, Xu Jiayin chose to go out, and he also gave up the right to dispose of Evergrande's assets.
Boss Xu is not Jia Accountant, and he will not be the second Jia Accountant.
No one can pat their butts, grab their bags and walk away easily.
Yesterday Evergrande boots landed, and on the same day, the financial regulatory authorities were full of good.
1. Timely reduction of the RRR. 2. The central bank provides support and facilitation for enterprises to repay and repurchase overseas bonds. 3. The CbRC clearly requires that the focus be on meeting the needs of the first suite and improved housing mortgage, reasonably issuing real estate development loans and merger and acquisition loans, and increasing support for affordable rental housing. 4. The CSRC supports high-quality real estate enterprises to issue bonds, and the funds can be used for mergers and acquisitions of insurance enterprise projects.
It is all to show the outside world that Evergrande is just an isolated case, will not affect the entire real estate industry, and will not become the Chinese version of "Lehman Brothers" that detonated the subprime mortgage crisis. ”
China has a way.
The layman looks at the bustle, and the insider looks at the doorway. Jin Zi reminded his relatives to look at the fourth article, and the directionality was obvious.
After a long drought and sweet rain, Boss Xu stopped on the eve of the rain.
If you ask, does Evergrande still have a future?
Not surprisingly, there is another version of HNA.
The real estate is the only one, and the country is a bad omen.
When Japanese real estate was crazy, the slogan shouted was, "Sell Tokyo, you can buy the whole United States"!
Then, there is no then.
The financial crash, the housing bubble burst, Japan has lost 20 years, and then another 30 years! Not surprisingly, the next 40 years will be lost!
High housing prices have drained the wealth of ordinary people's families for generations, consumption is weak, and domestic demand is sluggish.
Can real estate really hide rich from the people?
In fact, instead, it is to kill chickens and eggs, and fish in the water.
Real estate is not the future, science and technology can revitalize the country!
The blood-like lesson of Japan is at hand.
The Qin people do not have time to mourn for themselves, and the posterity mourns; the posterity mourns and does not learn from it, and also makes the posterity mourn the future generations.
Our misfortune is that there is only one Huawei, but there are too many highly indebted real estate companies.
The woman holds the sword, and the poisonous tongue is kind. About the author: Jin Zixia, a Chengdu girl who loves to live in the house, a media writer. Based on hot spots, laughter and anger are all articles, and the line is hidden to leave the topic. Welcome to the author's WeChat public account: Jinziduo (ID: jinziduo66)
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