Photos out! Evergrande Hong Kong headquarters dismantled, Jack Ma shot?

Just as the name of the Shenzhen Evergrande headquarters was demolished at the end of last year, the skyline of Hong Kong's Wan Chai is missing another "China Evergrande" name.

During the Dragon Boat Festival, Yunfeng Financial issued an announcement on the change of the name of the business location and the building where it is located

Evergrande's Hong Kong headquarters building was renamed and no longer surnamed Xu.

The building was renamed from "China Evergrande Center" to "Vantone Insurance Center"

Vantone Insurance, which is Yunfeng Financial; Yunfeng Finance, is Jack Ma's...

Interestingly, when Xu Jiayin bought the building from Chinese Real Estate, it was named "American Vantone Building", and in 2016 it was renamed "China Evergrande Center".

After 7 years, the building was renamed again, and it went around and returned to the name of "Wantong"

Specifically, let's take a look at the comparison picture taken by gang media (picture from Hong Kong 01)

The picture above is the current situation, and the picture below is the signboard at the entrance of the former China Evergrande Center

There are two things that cannot be determined today:

1. Did Evergrande's Hong Kong headquarters building sell, or did it just sell the naming rights of the building to Yunfeng Financial?

2. If the building is sold, who bought the Evergrande Hong Kong headquarters building? What is the transaction price?

What is certain is that Yunfeng Financial must have spent money.

Yunfeng Financial is not small, and it is an important platform for Ma Yun's layout in Hong Kong's financial sector.

Xu Jiayin and Ma Yun that year

The name of Yunfeng Financial, taken from the last character of Jack Ma and Yu Feng, is held by Yunfeng Fund, founded by Jack Ma and Yu Feng, and was listed on the Hong Kong stock market in 2015 through the backdoor Ruidong Group (for Yunfeng Financial).

Vantone Insurance is the Asian business of MassMutual Insurance acquired by Yunfeng Financial in 2018, and insurance is also the most important source of income for Yunfeng Finance.

Back to Evergrande's Hong Kong headquarters building

In 2015, Xu Jiayin bought the MassMutual Building from Chinese for 12.5 billion yuan, and Evergrande owned a landmark in Wan Chai.

In that year, the sales of Evergrande Real Estate exceeded 200 billion, second only to Vanke and ranked second in the country. The fame of Xu Jiayin and Evergrande has long spread

The spirited Xu Jiayin (2nd from right), and the "Evergrande Hong Kong Headquarters Building" behind him

Hong Kong China Evergrande Center is 94.85 meters high, with a total of 26 floors, covering an area of 2,138.8 square meters, with a total floor area of 32,100 square meters and 55 underground parking spaces.

After buying the building, it was renamed "China Evergrande Center" the following year (the end of 2016). In 2018, Evergrande mortgaged the entire building and raised HK$12 billion

The two most important tenants of this building, namely Evergrande Group and Chinese Real Estate, contribute most of the rent of the building

In 2021, when Evergrande's capital chain was broken and cash flow was tight, Boss Xu's first thought was to cash out Evergrande's Hong Kong headquarters.

But its fate of sale was really a twist and turn.

Evergrande Hong Kong headquarters building, said Cai Cat 2019 photo

As early as August 2021, it is said that Xu Jiayin personally came to Yuexiu Group to negotiate, hoping to sell it to Yuexiu for about 15.6 billion Hong Kong dollars.

But in the end, the price was haggled to HK$10.5 billion, and Yuexiu still refused the sale.

Last year, Evergrande's Hong Kong headquarters had three tenders, which even attracted Li Ka-shing, and Changshi Group submitted a tender for 9 billion yuan to buy the building.

At the same time, Evergrande's Hong Kong headquarters building was applied for by a consortium led by creditor China CITIC Bank (International) to take over a loan financing of 7.6 billion yuan that Evergrande had previously mortgaged.

Because he was taken over by the creditor bank, Li Chaoren was unable to buy the Evergrande Hong Kong headquarters building.

Later, it was reported that the Evergrande Hong Kong headquarters building was sold again, but according to market news at the beginning of the year, because the buyer's bid was lower than the bid requirements, the Evergrande Hong Kong headquarters building was again bidding.

Until recently, the Evergrande Hong Kong headquarters building changed its name, and it returned to the public eye.

Today, Evergrande's Hong Kong headquarters building has been renamed.

The picture above shows that the plaque of Vantone Insurance Center has been replaced, and the picture below shows the plaque of the former China Evergrande Center

When Evergrande was still the former Evergrande, in addition to the Hong Kong headquarters building, there were many landmark projects across the country.

The most famous are the seven skyscrapers, which are distributed in Guangzhou, Shenzhen, Hefei, Nanning, Jinan, Ningbo and Foshan.

The highest reaches 518 meters (Anhui Evergrande Center, Jinan Evergrande International Financial Center), and the shortest is also 189.2 meters (Guangzhou Evergrande Center).

At present, only the Guangzhou Evergrande Center is still listed, and the other six skyscrapers are in trouble, either rotten, still in shutdown, transferred or unbuilt.

Guangzhou Evergrande Center, said Cai Cat photo

Evergrande has announced its preliminary debt restructuring plan this year, which is finally a step towards substantial progress.

From January to May this year, the contracted sales of Evergrande Real Estate were 33.767 billion yuan; by the end of May, Hengchi 5 had delivered only more than 1,000 units.

And July will be a key moment for Evergrande

Screenshot from China Evergrande's latest quarterly announcement

According to the latest news, Evergrande is expected to promote the implementation of the debt restructuring plan in late July this year.

The winding-up petition hearing will be further adjourned to 31 July.

At the same time, China Evergrande said that it will also announce its results for 2021 and 2022 before July 31.

If it is not dealt again, it may be delisted. At that time, it is said that the financial cat will also follow up and interpret.