Exclusive reveal: the past and present life of Evergrande Song and Dance Troupe|Xu Jiayin cultural and entertainment past

"Four words for you:

Agriculture, Industry and Commerce "

- "Rock Solid"

-1-

On May 9, 2011, the 8th day of the official implementation of the "drunk driving sentence", the first celebrity to "win" this crime was born:

Gao Xiaosong.

Eight days later, the drunk driving case was tried, and Gao Xiaosong was sentenced to six months of detention.

In the detention center, Gao Xiaosong welcomed a special visitor——

Representative of Evergrande boss Xu Jiayin.

Not long before drunk driving, Xu Jiayin and Gao Xiaosong talked about the establishment of Evergrande Music, and wanted to ask this campus folk talent to operate. At that time, Gao Xiaosong thought that it was just a real estate developer playing tickets, but he felt unreliable and refused.

Xu Jiayin did not give up, not only took care of it, but also handed over an olive branch when people were in distress. Boss Xu's representative said that as long as you agree, drunk driving has no effect, and the conditions previously opened are the same.

Gao Xiaosong, who was in prison, was moved.

After coming out, he found his old partner and Tsinghua alumnus Song Ke, and asked Xu Jiayin to have a meal together.

During the dinner, Boss Xu said that he would be a platform company serving the music industry... In the end, the true colors of real estate developers are revealed: copyright is the land of the music industry, and if you reserve more, you will not panic.

Gao Song and the two couldn't help but put down their chopsticks and applauded. Later, Song Ke recalled Boss Xu's remarks and called the music layman "with a broader vision."

Song Ke actually announced his retirement from the music industry in early 2011, dropped the phrase "the record is dead", and switched to selling roast duck. After listening to Xu Jiayin's words, he decided to return and serve as the chairman of Evergrande Music and Gao Xiaosong as the director.

Of course, it may not only be Xu Jiayin's inspiration, but also the temptation of banknotes - Evergrande invested 850 million yuan in cultural and entertainment business, and music was the first shot.

Song Ke sighed with emotion: "After twenty years of work, someone finally raised a machine gun for us to charge." ”

After preparing for more than half a year, in June 2012, Evergrande Music officially announced its establishment, and Gao Xiaosong released a bold statement:

"We're going to make a century-old store!"

Two years later, the brothers withdrew and switched to Lao Ma.

-2-

Xu Jiayin not only wants to make music, but also includes film and television, animation, theater line, brokerage, distribution and other businesses, forming a cultural group.

Real estate developers engaged in entertainment, not without precedent, Wanda is an example, but also played the head of the industry. Later, Sunac also entered the entertainment industry in a big way, although the investment in LeEco was pitted, but it did not hinder the pace of development of film and television, not only acquired Wanda's Oriental Film Capital, but also sent Sun Gongzi to take charge of the cultural industry.

Unlike in recent years, entertainment sunset West Mountain, more than 10 years ago, entertainment was still quite a good concept. As a leading real estate enterprise, Evergrande naturally cannot be let go.

What's more, Boss Xu himself was a standard "literary and artistic youth" when he was young!

According to the book "Evergrande Xu Jiayin: Suffering is My Precious Wealth", he loved to paint since he was a child, "showing a craft talent different from other rural dolls." To this day, in the old house of Xu Jiayin in Jutaigang Village, Taikang County, Zhoukou, Henan, there is still a portrait sketch that he personally painted for his grandmother, and the book records: "The bones are clear and the lines are clear." ”

Although I have not formally learned to draw, I have mastered certain painting skills by self-study. Later, Xu Jiayin also personally drew the planning plan for the Hainan Sea Flower Island built by Evergrande, and even the graphic design of each building, which was the handiwork of this boss.

Boss Xu's efforts were not in vain, and in 2021, Sea Flower Island was rated as:

Top of the list of "Top 10 Ugliest Buildings".

In addition to painting, Xu Jiayin also writes things. The first author of the lyrics of the theme song "Rise" of the opening ceremony of the "Chinese Super League" in 2011 was him.

Once such literary youth become rich, it is also due to develop cultural undertakings.

In fact, in addition to their own interests, there is also the pressure of the general environment. At that time, Xu Jiayin judged that "the real estate industry used to be a sunrise industry, but the space will shrink after that." Therefore, maintaining the current scale and finding new development space outside the residential space has become a long-term strategy that Evergrande must consider, and now the cultural industry is a sunrise industry. ”

Therefore, in public and private, Xu Jiayin does entertainment, which is a very reasonable behavior. Although it is not as much money as selling a house, it can plunge into the literary and art circle, and it is also in line with the popularity of Hermès brother.

Since September 2010, Evergrande has intensively registered a series of entertainment companies and established a cultural industry group. Just the year before, Evergrande topped the throne of the largest real estate enterprise in China, and Xu Jiayin also won the title of the richest man for the first time, which is the moment of spring breeze.

An Evergrande insider said that in the entertainment industry, "Boss Xu attaches great importance to it, and he needs to report big changes or actions to him." ”

The core backbone personnel are also personally screened by Xu Jiayin (like looking for a big coffee like Gao Xiaosong). It can be described as hard work and quite serious.

However, due to the characteristics of the entertainment industry, it is decided that this sector will not see results so quickly. According to the financial report of Evergrande Culture Group, in 2013, more than two years after the establishment of the company, the revenue was 81.67 million, but the loss exceeded 125 million.

On the contrary, another entertainment-related business was the first to develop, and it was loud and colorful——

Cabaret Troupe.

-3-

On November 3, 2011, a grand party was held in Guangzhou, which was organized by Evergrande to celebrate the four rounds of the championship won by the football team that had just been acquired for more than a year.

A song and dance troupe danced the dances "Prosperous and Prosperous" and "Bibo Peacock" specially created for the team to win the championship, which pushed the atmosphere of the party to a climax.

This is the Evergrande Song and Dance Troupe, which has been exposed to the public for the first time.

In fact, the Evergrande Song and Dance Troupe was founded in September 1999 (three years after the company's founding), and for a long time, it was limited to performing within the company. In January 2011, the main body of the company was officially registered (the earliest was "Guangzhou Evergrande Song and Dance Troupe Co., Ltd.", and in December 2014 it was renamed "Guangzhou Evergrande National Song and Dance Troupe Co., Ltd."), operating as an independent enterprise and began to operate externally.

Since then, the Evergrande Song and Dance Troupe has frequently appeared in major ceremonies and galas, and in its official introduction, it claims that it has been invited to participate in more than 100 major performances. These performances can be said to be of high standard, and the organizers have a lot of origins.

Indeed, the Evergrande Song and Dance Troupe has participated in many large-scale celebrations and appeared on the stage of the Spring Festival Gala many times.

From a business point of view, the performance function of Evergrande Song and Dance Troupe is twofold: one is to perform for Evergrande's internal grand festivals (such as cheering for the football team), and the other is to conduct external commercial performances, especially high-level large-scale events, which are officially said to be "doing public welfare".

It is no wonder that the internal official positioning of Evergrande Song and Dance Troupe is to "show brand image and cultural soft power". Xu Jiayin even praised the song and dance troupe in public:

"It is a façade and an important part of Evergrande's culture."

Despite so many external performances, the Evergrande Song and Dance Troupe is still "raised in purdah", mostly because the signatures of these performances are not prominent. For example, dancing for stars on the spring evening, the signatures are all backward, and a line of small print hurriedly skimms, so it is not known to the public.

Of course, Evergrande did not want ordinary people to know at all, although it was not deliberately secretive (occasionally issued press releases), but did not care whether there was public visibility.

Because, they took the "high-level route".

To put it bluntly, for Evergrande, the song and dance troupe is to show its image externally, which is a kind of public relations behavior, especially government public relations (GR). For example, if a national unit holds a party or activity, and the Evergrande Song and Dance Troupe is willing to perform, its business is solid and it dances well, then the sense of existence of Evergrande's leaders in the unit will inevitably rise by a level.

The reason why he chose to focus on "ethnic dance" must be very simple - the high-level people are often an older group of people, who prefer this type of dance, which is considered to be their favorite.

Of course, don't think crookedly, this is a normal "government public relations" behavior, just like every big factory has a GR department.

It's just that the way Evergrande uses is more "eye-catching".

-4-

After the Evergrande thunderstorm, people were surprised to find out -

"I owe 2.4 trillion, but I still have a song and dance troupe!"

Along with all kinds of speculation, the existence of the song and dance troupe has become another "crime" of Xu Jiayin that makes people laugh at each other.

Whether there is any "fragrant" plot, it is difficult for the outside world to figure out, but it is certain that Evergrande is indeed "raising" this song and dance troupe.

From the activities in which the Evergrande Song and Dance Troupe participates, such as the CCTV Spring Festival Gala and the opening and closing ceremonies of various grand events, it can be seen that the fees that can be received are very small (or free performances), and the fees for internal activities will not be high, so it is basically impossible to make negative profits and losses through marketization.

But if you take on the GR function, the goal is not actually to make money.

According to a recruitment released by Evergrande Song and Dance Troupe in Shenyang Normal University in 2020 obtained by "Entertainment Spring and Autumn", both male and female dancers are recruited (ratio 1:2), the age requirement cannot be greater than 20 years old, female dancers are not less than 170CM tall, and male actors are required to be above 178.

In terms of salary, there are 5 levels -

Special actor: 28,000 yuan/month  

First-class actor: 16,000 yuan/month  

Second-level actor: 14,000 yuan/month

Level 3 actor: 12,000 yuan/month

Level 4 actor: 10,000 yuan/month       

Probation: 8,000 RMB/month

The above is only the basic salary, there are "generous bonus incentives", and can "live in high-end apartments, private car transfers". For boys and girls under the age of 20, this kind of treatment is not a small temptation.

Therefore, some of the actors of the Evergrande Song and Dance Troupe are recruited and trained from colleges and universities, and they are young and vigorous; Another channel is to poach members of the major military literary corps.

In 2013, coinciding with the reform of the armed forces, the civilian staff was abolished, and the literary troupe became the "hardest-hit area", and the Evergrande Song and Dance Troupe took advantage of the trend to rob several actors of a famous literary troupe, and the salary increased by four or five times.

A behind-the-scenes creator who has been working in the military literary troupe for a long time once revealed to Southern Weekly, "Evergrande's offering price is at least 8,000 salaries, and several members of the regiment have gone to Evergrande." We have only signed more than 2,000 contracts. Even if there is a establishment, the deputy regiment is only four thousand, and the main regiment is only five thousand. ”

Xu Jiayin's use of football to catch the song and dance troupe can be described as a "miracle of great strength", and naturally achieved corresponding results - he was able to seize the opportunity and enter the national stage.

In 2019, it was the peak period for the personnel of the Evergrande Song and Dance Troupe, and its social security contributors were 78 (including staff), but in 2020 it dropped to 24 people, and in 2021, there was only 1 left.

In the first half of 2021, the Evergrande Song and Dance Troupe scattered birds and beasts.

Actors, go in different directions.

There is an actor who participated in a summit performance, and after leaving Shenzhen, he went to other cities to become a dance teacher; More people choose to take a long vacation and consider other performance opportunities in the future.

In fact, the members of the Evergrande Song and Dance Troupe are not only actors, but also choreographers, business and administrative staff. At the end of the above Shenyang Normal University recruitment information, there is a contact person Fan Weijie, who is a dance choreographer and has choreographed many large-scale national activities; Later, she left the Evergrande Song and Dance Troupe to participate in the work of the closing ceremony of the 2022 Beijing Winter Olympics, and asked CCTV host Kang Hui to say three times "invite the athletes to sit down and watch the ceremony", which caught fire.

This side proves that there are indeed outstanding talents in the Evergrande Song and Dance Troupe with excellent business; It is rumored that the song and dance troupe is Boss Xu's "harem beauty" and the like, which is mostly speculative and exaggerated.

Objectively speaking, Evergrande has the motivation to build an excellent song and dance troupe, and whether it hides dirt, such as whether it provides "sexual entertainment", or whether Xu Jiayin is involved in "concubine selection", will have to wait for the results of the investigation.

Recently in various rumors, the leader of the Evergrande Song and Dance Troupe, Bai Shanshan, born in 1991, Anhui, height 177, should have joined the Evergrande Song and Dance Troupe in 2013, and won the overall championship of the Guangdong Division of Chinese Model Star in 2014. From this event, there have been well-known artists such as Xiong Dailin, Zhou Weitong, and He Sui.

Bai Shanshan went from an ordinary actor to the captain of the female dance team in just a few years, and then promoted to the deputy head of the troupe around 2017.

"Entertainment Spring and Autumn" found that at the beginning of 2018, there were people who were dissatisfied with Bai Shanshan and complained about her in Weibo, in addition to saying that she did not dance well and had low conduct, but also excluded other people in the song and dance troupe:

"How many actors who really like love and are professional have been forced away by her!"

From a Weibo post on February 5, 2018

This post is quite complaining, it seems to be sent by the "actor who was forced away", and the facts are difficult to verify, but the blogger is obviously familiar with the inside affairs of the Evergrande Song and Dance Troupe, but can get a glimpse of the inner workings:

First, love is not allowed in the group, but there are still actors who talk privately; Second, the song and dance troupe should do the "reception" work, and every time the reception comes back, there will be a bonus, and will drink alcohol during the reception; Third, performances are becoming less and less, and reception has become the "main business" of the song and dance troupe.

No wonder the Evergrande Song and Dance Troupe is now "stigmatized", and five or six years ago, when it was unknown, there was a "entertainment scandal".

In 2016, Bai Shanshan participated in the 20th anniversary celebration of Evergrande, and after the performance, she posted an article and wrote several "thanksgiving".

Her Weibo stopped before the disbandment of the song and dance troupe (now all its content has been deleted), and the last Weibo was a personal selfie, located in "Shenzhen Bay No. 1".

That was where Xu Jiayin's mansion was located – it was, and it has long since been sold.

It is rumored on the Internet that Bai Shanshan and Xu Jiayin sing K pictures

-5-

The last actress who had a scandal with Xu Jiayin was Fan Bingbing.

Soon after Evergrande entered the entertainment industry, it invested in Fan Bingbing Studio.

Every time there is an important event or a real estate opening, Xu Jiayin must invite the female star to stand on the platform, and the remuneration is from one million; After the establishment of Evergrande Cultural Group, the office was located in the Beijing Yingke Center, and half of the floor was rented - provided to Fan Bingbing's team, until Fan Bingbing was confirmed for tax evasion in 2018, and the studio members still worked there.

Someone asked Xu Jiayin why he was so good to Fan Bingbing, and he answered very crisply:

Admire her.

However, netizens are very incomprehensible - so earnest and sparing no effort, it does not seem like a simple "appreciation". So that they all suspected it, and even pointed out that the big boss cheated on Fan Bingbing.

On August 9, 2011, Fan Bingbing went to the police station early in the morning, and she was going to report the crime. Just the day before, the scandal about her and Boss Xu caused an uproar.

In May 2015, when Fan Bingbing and Wang Sicong started a scolding war, the latter said an extremely vulgar thing and revisited the old matter.

This time, Fan Bingbing did not call the police.

However, as Xu Jiayin confessed to his wife, he probably only had a "working relationship" with Fan Bingbing - he tried to use the latter's entertainment industry network resources to "save the game" and build a plate for Evergrande's film and television business

Just after Fan Bingbing called the police in response to the scandal in 2011, Fan Bingbing hosted and invited Xu Jiayin to dinner, surprisingly, there were two other Fan Ye's gossip male protagonists - Wang Xueqi and agent Mu Xiaoguang, as well as He Ping, Yin Li and other directors.

So it looks quite frank.

It is understandable that Xu Jiayin wants to know more insiders through Fan Ye. Around this timeline, he is indeed inviting Gao Xiaosong to run a music company.

But unlike music that encircled Gao Xiaosong and Song Ke, Evergrande Film and Television has never had a famous trader. Therefore, the early development strategies basically revolved around the works starring Fan Bingbing, including the TV series "The Legend of Wu Meiniang", "Winning the World", "The Legend of Ba Qing", as well as the Sino-foreign co-production blockbuster "Sun and Moon Mermaid" and "The Woman in the Frame".

From this film list, you can see that Evergrande Film and Television is unreliable.

Not to mention that due to Fan Bingbing's tax evasion investigation, "Win the World" and "Baqing Biography" cannot be broadcast, the so-called Sino-foreign co-production blockbuster "Sun and Moon Mermaid" (later renamed "The Legend of Versailles") is really strange, and the behind-the-scenes story is even more bizarre, which has been spit and ridiculed, and after several years, it will be launched on the US network in early 2022; Like "The Woman in the Frame", the Douban score has not exceeded 4.0.

Due to the lack of core backbone, since its establishment in November 2010, Evergrande Film and Television has mostly co-invested, and as the first producer, it has only invested in one film - "Breaking the Wind" starring Peng Yuyan released in August 2015.

The quality of "Breaking the Wind" is acceptable, but due to the niche theme (cycling competition), despite the first-line stars, it only finally won 145 million at the box office, which is likely to lose money.

As the second producer, he invested in "Rooftop Love" directed by Jay Chou, and his performance was also mediocre.

Among the films invested by Evergrande Film and Television, Huang Bo's self-directed and self-acted "A Good Show" can be said to be the best, with a double harvest at the box office (1.3 billion) and word of mouth (7.1 points), followed by 2011's "The Great Cause of Party Building" (box office 400 million), but the investment is not much, the share is extremely small, and the income is limited.

Before the thunderstorm, Evergrande Film and Television may have stopped operating, and the last movie to participate in was "Detective Pu Songling" starring Jackie Chan in 2019.

10 years ago, Evergrande Film and Television set up a movie "Football Dream in Ten Years", trying to link the film and television with its football, but after the script was filed, there was no further action.

10 years later, with Xu Jiayin being arrested, Evergrande's glory no longer exists, and he may only be sad alone:

Ten years of sleep.

-6-

Different from the "amateur" of the film and television sector, Evergrande Music is played by the big man Gao Xiaosong and Song Ke in the circle.

During their tenure, they did a "Starlight Music Festival" and signed some singers.

The first signed singer is "study room girl" Zhou Ziyan, who became popular on the Internet because of playing and singing in the study room. She also has a characteristic, looks like Faye Wong, because of her young age (16 years old), she is called "Loli version of Faye Wong". Because he participated in the Youku online talent show "I Am a Legend", he met Gao Xiaosong.

At that time, in the press release released by Evergrande Music, Zhou Ziyan was used as a "secret weapon". Song Ke was very confident and said:

"We think she can be a generation diva in the future."

So far, 11 years later, Zhou Ziyan is still unknown.

When he held the first "Starlight Music Festival" in 2013, he claimed that he only sponsored advertising, and there were:

One hundred million!

However, the entire Evergrande Culture (wholly-owned Evergrande Music) had a revenue of only 81.67 million in 2013, where did it come from 100 million?

However, although there are many unreliable, during their tenure, they have done one thing, which is too important for Xu Jiayin.

At the end of 2012, Evergrande Music joined hands with CCTV to launch a program called "Direct to the Spring Festival Gala", mainly to select talents for the CCTV Spring Festival Gala, and Song Ke also served as a judge. Obviously, thanks to the relationship between Gao Xiaosong and Song Ke, the most important thing is -

Evergrande Song and Dance Troupe can finally be on CCTV!

This has also become an opportunity for the Evergrande Song and Dance Troupe to land on the Spring Festival Gala four times.

In May 2014, Evergrande Music signed a contract with Zhang Wei and arranged a wedding scene as a signing ceremony.

Before the end of that year, Song Ke Gao Xiaosong both left Evergrande Music, and Gao Xiaosong said that the contract expired and broke up peacefully.

Half a year later, the two went to Ali hand in hand. In July 2015, Ali Music announced the establishment, and the ranks of the two brothers were reversed, with Song Ke as CEO and Gao Xiaosong as chairman, one level higher than the senior brother (maybe he knew that Ali's rank was hard currency).

This time, Gao Xiaosong said again:

"Ali Music Group will be the last stop of our professional music managers! Alibaba Music Group will definitely become a world-class music institution! ”

In less than a year, its shrimp music and daily music have been lost.

Ma Yun Xu Jiayin is really a good buddy, and the employment is surprisingly consistent.

Just before Gao Xiaosong and Song Ke announced their switch to Alibaba, in May 2015, Evergrande Culture submitted a listing prospectus – but on the New Third Board. At the end of the year, Evergrande Culture was successfully listed on the New Third Board.

According to its prospectus, Evergrande Real Estate Group holds 75% of the equity of Evergrande Culture through two wholly-owned investment companies, and the other 25% is owned by "Shanghai Shencheng Film and Television City Media Co., Ltd.", which changed its name to "Shanghai Film and Television Media Co., Ltd." in 2018.

(Shanghai Film and Television will launch "Anle Chuan" in 2023 to be known to outsiders, and there will be "Acacia Ling" to be broadcast, this company is also quite magical, Ali, iQiyi, Fosun, Evergrande Culture and other large factories all hold shares, and each accounts for 5%. ）

In the equity structure of Evergrande Culture, you can't see the Evergrande Song and Dance Troupe, in fact, the Song and Dance Troupe is not in the entertainment sector of Evergrande, it is wholly owned and directly held by the real estate group, which is a "pro-girl" who is closer to Evergrande Culture.

However, just one year later, Evergrande Culture terminated its listing and withdrew from the board. The reason is simple, the trading of the New Third Board is extremely inactive and cannot play a financing function.

At this point, Xu Jiayin's entertainment dream was shattered by half.

In September 2019, Evergrande Music was wholly transferred to Beijing Jiayitang Investment Holdings Co., Ltd., and in October, it was renamed Beijing Xinao Music Co., Ltd. A year later, the family medicine hall changed its name to Xinao Investment and transferred 10% of the equity to Su Yujun, a natural person.

60-year-old Su Yujun, currently the chairman and general manager of listed company TiJi Technology, is the eldest of the three brothers of the Su family in Xuchang in Henan, and has also done real estate business in his hometown and has extremely close contacts with Evergrande. The Xuchang Sanchang Industry held by him is the earliest foundation of the three brothers - relying on the mining business to start out.

The reason why Su Yujun can become the chairman of Dimensity Technology is because the owner of Yulong Capital, the major shareholder, is called Su Bo, not only has the same surname, but also is a person from Xuchang with Su Yujun.

Yulong Capital built a financial platform around 2018, claiming that "10,000 investments earn 150 yuan per day", and at that time, it was exposed by the People's Daily's "International Finance News", directly denouncing "this is a 'scammer' platform". But for some reason, he was able to re-enter the listed company.

Obviously, this is a group of successful people who "really have mines at home" who came out to play capital.

The Evergrande music created by Gao Xiaosong and Song Ke has become the "prey" in the capital market.

-7-

In July this year, Wanda Film issued an announcement to transfer 49% of the shares of Beijing Wanda Investment, a major shareholder, and recovered more than 4.5 billion yuan.

The takeover party is the Hong Kong listed company "China Ruyi".

Before 2021, the company was still called "Hengteng Network", at that time, Evergrande was the largest shareholder.

Now, the company is Wanda's white knight. The highlight moments in the film and television field that should have been enjoyed by Xu Jiayin have been blessed.

However, Hengteng Network is likely to be the closest opportunity for Xu Jiayin to become a leading player in the entertainment industry.

Hengteng Network was originally established by Evergrande to enter the field of smart property, and was successfully listed in 2015 through the backdoor Hong Kong stock company Masco Group.

After his own Evergrande culture was extinguished, Xu Jiayin's entertainment dream has not been completely shattered, and he is looking for the next opportunity.

In October 2020, Hengteng Network announced its wholly-owned acquisition of mainland film and television company Ruyi Shin Shin, founded by Ke Liming, an upstart in the entertainment sector for HK$7.2 billion. The acquisition projects include Ruyi Pictures and Pumpkin Films.

After the completion of the transaction, Evergrande remained the major shareholder of the newly restructured company, and its stock price once exceeded 100 billion yuan in market value.

Familiar with the film and television field, Ruyi Film rose from 2012 and became famous by investing in "To Our Dying Youth"; He has successively produced TV series "Langya List", "The Legend of Miyue", "No War in Beiping", etc., and participated in the movies "Pancake Man", "Small Times", "Old Boy" and "Hello! Li Huanying" and so on. In 2023, Dapeng's two films "Keep You Safe" and "Warm" are also produced by Ruyi Pictures.

Although Ruyi's film and television sector is better known to the public, in the capital market, the concept of stock price growth actually comes from its long-form video platform "Pumpkin Movie", dubbed "China's version of Netflix". Therefore, Hengteng Network vigorously promoted the "pumpkin movie" and also landed on the chest of the main players of the Evergrande football team.

It can be seen that Xu Jiayin attaches great importance to pumpkin movies.

So far, Evergrande's official website is still hung with Hengteng network business section, open this page, the slogan of "building a world-class streaming media platform" is very eye-catching on the banner.

However, Xu Jiayin no longer had the opportunity to build such a platform.

As early as November 17, 2021, Evergrande announced the sale of its last shares in Hengteng Network, completely leaving the market from this seemingly thriving entertainment company, and cashing out more than 10 billion Hong Kong dollars to repay debts.

Subsequently, Hengteng Network changed its name to "China Confucianism".

At this point, Xu Jiayin's dream of entertainment was completely shattered.

Not only is the dream of entertainment shattered, but the Xu quote of "achieving a century-old store and evergreen foundation" has also become a thing of the past.

In the world, there may be no evergrande.

Seven years ago, at the grand ceremony of Evergrande's celebration of its 20th anniversary, Fan Bingbing was certainly not absent, she and Xu Jiayin sat under the stage, watching the performance of Bai Shanshan and her members.

At that time, Xu Jiayin, who often asked his subordinates whether he could "live for centuries", must not have expected that the day when the building fell would come so quickly.

I don't know whether it was intentional or unintentional, Bai Shanshan also quoted Fan Ye's famous domineering quote on Weibo, and at this moment, it is also suitable to give to Boss Xu:

If you want to wear a crown, you must bear its weight.