For the first time, no developer was included in the top ten of the Hurun Report, and Xu Jiayin's assets shrank by 162 billion

The Paper's reporter Li Xiaoqing

On October 27, the "2021 Hurun Rich List" was released, and Zhong Shuishui, 67, chairman of Nongfu Spring, became The richest man in China for the first time with 390 billion yuan.

The Paper (www.thepaper.cn) saw in the list that there were no entrepreneurs in the real estate industry in the top ten. According to the list, the top two entrepreneurs in the real estate industry are Yang Huiyan, 40, co-chairman of Country Garden, and Li Shau Kee, founder of Henderson Land, 93, who ranked 11th and 15th on the list with 185 billion yuan and 170 billion yuan. Hurun said: "For the first time in the real estate industry, no entrepreneur has entered the top ten. ”

The list shows that the wealth of Xu Jiayin, chairman of the board of directors of Evergrande Group, this year is 73 billion yuan, down 162 billion yuan from 2020. The ranking fell from fifth to 70th. In 2017, Xu Jiayin was also the richest man in the Hurun Rich List.

Yao Zhenhua, the actual controller of Baoneng Group, did not make the list this year. Yao Zhenhua's wealth in 2020 is 105 billion yuan. The wealth of Lu Zhiqiang, the controller of the Oceanwide System, fell from 62 billion yuan in 2020 to 20 billion yuan.

It is worth mentioning that this year, Evergrande Group and Baoneng Group are now facing a liquidity crisis.

Evergrande Group has repeatedly revealed to the outside world the signal of actively disposing of assets to alleviate financial pressure.

In August, China Evergrande (03333. HK) said that it is actively engaging with a number of potential investors to discuss the sale of Evergrande Automobile (00708. HK) and Evergrande Property (06666.HK) shares, while also considering bringing in new investors to China Evergrande and other subsidiaries. Regarding the measures to strengthen the alleviation of liquidity problems, China Evergrande has said that it will continue to adjust the project development schedule, strictly control costs, vigorously promote sales and payment collection, strive for loan renewal and extension, sell equity and assets (including but not limited to investment properties, hotels and other properties) and introduce investors to increase the equity capital of the company and its subsidiaries.

Baoneng Group is already facing debt default and is selling its headquarters in Shenzhen Baoneng Center and a number of assets.

Baoneng Group previously said that the current liquidity pressure is a temporary problem in stages, and it is actively adjusting the asset structure, gradually diluting the proportion of real estate business in Baoneng Group, improving asset liquidity; through personnel optimization and focusing on the core high-end manufacturing industry, improving the overall profitability and anti-risk ability of the group. Its interest-bearing liabilities are basically secured by full-value collateral. Baoneng Group is speeding up communication with relevant financial institutions and has reached extension and renewal plans with some financial institutions.

In addition, Baoneng Group is promoting the increase in sales of real estate business, while promoting the sale of 8 major asset projects, and the collection of funds can solve the current more urgent liquidity pressure.

Specifically, in terms of accelerating the sales and payment collection of real estate projects, efforts have been made to ensure the sales and payment collection of residential projects, and the sales of projects such as Foshan in Guangdong, Shaoxing in Zhejiang, Kunming in Yunnan, and Harbin in Heilongjiang have been accelerated. In the fourth quarter of this year, it is expected to collect 4.792 billion yuan.

In terms of the sale of 8 key special assets, Baoneng Group is launching the sale of 8 major asset projects located in Shanghai, Shenzhen and Guangzhou, such as the headquarters Shenzhen Baoneng Center, the old renovation project, the Qianhai high-quality project, and the logistics park asset package project. The above-mentioned projects involve commercial properties, land, commercial complexes, old renovation and equity of high-quality financial companies, with an appraisal value of more than 100 billion yuan. Baoneng Group is expected to collect about 20 billion yuan in 3-4 months, Baoneng Group said in the announcement that a project has been signed; other projects are in the signing stage, close negotiations or looking for interested parties. Due to the large size of the project, there is uncertainty about whether it can be carried forward as planned, and there is a risk that the sale of the project will not progress as expected.

Editor-in-Charge: Liu Xiuhao