Xu Jiayin: Evergrande currently has more than 50 billion yuan of pre-sale supervision funds, and cannot rely on selling assets at a low price to repay debts, and will streamline institutions this year

According to the Financial Associated Press, on February 9, Evergrande held a mobilization meeting for the start of the 2022 BaojiaoLou New Year on February 6.

At the meeting, Xu Jiayin revealed that this year will deliver about 70 million square meters and 600,000 sets of buildings, which is equivalent to nearly 50% of all Evergrande's projects to be delivered within the year.

Xu Jiayin also revealed that at present, Evergrande's pre-sale supervision funds are more than 50 billion yuan, and the outstanding sales payment is 80 billion yuan.

In addition, Xu Jiayin also mentioned again at the meeting, "At any time, the company's assets cannot be sold cheaply, and attention should be paid to preventing loopholes in the process of asset disposal." You can't rely on selling assets at a low price to pay off debts, otherwise it will be difficult to pay off debts when assets are sold at a low price. ”

According to the Beijing Youth Daily, at the Evergrande mobilization meeting, Xu Jiayin talked about six aspects of work. Including "first, make every effort to do a good job in resuming work and resuming production and ensuring the delivery of buildings", "second, do everything possible to resume sales and resume normal operations", "third, strive to open up an all-round, multi-level, and all-inclusive road of win-win cooperation", "Fourth, take effective measures to resolve various risks", "Fifth, strengthen internal management and eliminate all kinds of loopholes", "Sixth, strengthen the construction of the team".

Xu Jiayin also mentioned that this year Evergrande should streamline the organization according to the actual situation of the company, further establish a flat management system, and strictly set the post and the number. Before the Spring Festival, Evergrande has finalized the headquarters of provincial companies in various regions, and the provincial company headquarters has been reduced from 15,000 to more than 5,100 people, and a large number of employees have been enriched to the front line of the project.

[Source: Jiupai News Comprehensive Finance Associated Press, Beijing Youth Daily report]

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