The two men behind Xu Jiayin were investigated？ Rumors can’t save Hengda Automobile

Xu Jiayin, who is in the middle of the third cold winter of his life, may never be able to turn over. The two men behind him have been investigated one after another, and the last straw – Hengda Automobile may also change hands. Although Hengda denies it, it may not be able to save Hengda Automobile by refuting rumors.

The 64-year-old Xu Jiayin has experienced three cold winters in his life. The first was the 2008 US subprime mortgage crisis that detonated the global financial crisis, and Evergrande, which was planning to go public with crazy expansion, encountered a cash flow crisis. Finally, jewelry king Zheng Yutong, Chinese real estate developer Liu Luanxiong and other "card friends" rushed to the rescue, and Xu Jiayin saved the danger. The second time was Hengda’s backdoor listing failure, and the pressure to convert 130 billion shares into bonds was heavy. With the help of Zhang Jindong and other war investors, Xu Jiayin turned the corner. The third time was last year’s Hengda thunderstorm. 2 trillion the debt of Mount Tai, no one dared to save it, and no one could save it. Xu Jiayin finally couldn’t bear it this time.

The mountains and rain are about to come and the wind is full of buildings. Within a week, two state-owned enterprises related to Evergrande and Xu Jiayin had accidents one after another, and the leaders were investigated one after another. On August 16, the website of the Shandong Provincial Commission for Discipline Inspection and Supervision reported that Sun Liang, the former chairperson of Shandong Expressway Group, was suspected of serious violations of the law and job crimes and is currently under supervision and investigation. It is reported that Sun Liang and Xu Jiayin met in 2013. In 2017, Hengda wanted to backdoor A and introduced 27 war investment companies. The largest war investment was Shandong Expressway Group, which was helmed by Sun Liang. It invested 23 billion yuan and became Hengda’s second largest shareholder.

Just a week after Sun Liang was investigated, on August 23, Liu Hui, deputy general manager of Shenzhen Talent Anju Group Co., Ltd., was also investigated on suspicion of serious violations of discipline and law. In 2020, Evergrande backdoor return to A was hopeless. At that time, Sun Liang had retired. Shandong Expressway Group did not agree with Evergrande’s "debt-for-equity" model and insisted on withdrawal. Later, Shenzhen state-owned assets took action, and Shenzhen Talent Anju took over 5.87% of Evergrande Real Estate from Shandong Expressway Group with 25 billion funds. As a result, most of the funds of Shandong Expressway Group were able to "flee", while Shenzhen Talent Anju Group was "severely damaged".

Real estate business thunder, Xu Jiayin left a chicken feather, Hengda close to 2 trillion behind the debt, is hundreds of thousands of unfinished business, but also super 40 billion can not pay the financial investors, or countless related enterprises on the brink of bankruptcy. A week ago, the depth of participation in Hengda war investment two state-owned enterprises have fallen, the eye of the storm Hengda seems to be sliding in a more bad direction.

Some insiders have reported that Hengda Automobile may be acquired by another car company, and this time the lead party may be the local government. Moreover, media reports show that for more than half a year, Hengda’s Tianjin factory has produced only about 200 Hengchi vehicles. This means that under the extreme lack of funds and production setbacks, Hengda Automobile is obviously unable to continue, and selling back funds has become the best choice. However, Liu Yongzhuo, president of Hengchi, said that the company has been actively attracting strategic investors and denied the merger.

However, true lies are also true, and only relying on "refuting rumors" cannot really save Hengda Automobile. After all, the future of Hengda Automobile is full of fog, and many people in the industry are not optimistic about it. Evergrande Group’s long-broken trust chain and debt crisis are doomed to fail to help and "blood transfusion" the automotive sector; and Hengchi’s previous mass production has repeatedly skipped tickets, and the last confidence in the market has long been worn out; although the first model, Hengchi 5, is in production, it has been seriously frustrated. There are various signs that Hengda Automobile has been shaken, and Xu Jiayin may never turn over.