八点最热报 | 中国恒大集团的债务危机风暴已经进开始入刑事起诉阶段，恒大集团董事会主席许家印二儿子和多名高层已经被中国当局依法采取强制措施，而在香港证券交易所挂牌的三家恒大公司也遭到停牌。 （主播：萧慧敏）
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00:04 The debt crisis in China's Hengda Group has entered the criminal prosecution phase.
00:09 The chairman of the board of directors of Hengda Group, Xu Jiayin,
00:13 his second son and many senior officials have been legally forced by the Chinese authorities.
00:18 Three Hengda companies listed in Hong Kong's securities exchange have also been suspended.
00:23 Hengda, which was described as a "big company that can't be down" in the early days,
00:27 how much debt did it hold?
00:29 How big is this pit?
00:31 The financial reports released by Hengda earlier show that
00:34 Hengda has lost 8,120 billion yuan in total in the past two years.
00:38 The debt has risen from 1.96 trillion yuan to 2.4376 trillion yuan,
00:44 which is equivalent to the GDP of the entire country in South Africa.
00:49 According to Bloomberg, in addition to Xu Jiayin himself,
00:52 the law enforcement agency also took away Xu Jiayin's second son, Xu Tenghe,
00:56 the former CFO of Hengda, Pan Darong, who is responsible for capital operation,
00:59 and Yao Litao, the former chairman of Hengda Real Estate Group and Hengda Property Group.
01:04 Some analysts believe that the Chinese authorities' arrest of Xu Jiayin
01:07 is a move aimed at the U.S. court last month to seek bankruptcy protection
01:13 to prevent Hengda Capital from continuing to flow.
01:15 When Hengda went to the U.S. court last month to apply for bankruptcy protection,
01:19 it aroused the vigilance of Chinese relevant departments.
01:22 Although it is not yet known what kind of punishment Xu Jiayin and a group of senior officials will receive,
01:26 general analysts believe that Hengda Group should not be able to escape the possibility of bankruptcy.
01:31 Xu Jiayin, chairman of Hengda Group, one of China's largest real estate companies,
01:37 was caught by the police after the news of his stay was spread.
01:41 Even the Western media reported the news.
01:44 Evergrande, China's largest real estate firm, defaulted in 2021
01:48 and is saddled with more than $300 billion in liabilities.
01:52 It has become a symbol of the Chinese property crisis that many fear could spill over globally.
01:57 Chinese authorities suspect the company's chairman of committing crimes
02:01 subjecting him to mandatory measures.
02:04 Evergrande is trying to pull off a major debt restructuring of its offshore liability.
02:09 After it was reported that Xu Jiayin was taken away by the Chinese police and detained,
02:13 the Chinese Hengda Group, Hengda Automobile and Hengda Property
02:17 suddenly suspended transactions yesterday before the Hong Kong stock market opened.
02:21 This is the first time the Hengda Group has suspended its shares again after a month of reshuffling.
02:25 Hong Kong's own financial analyst pointed out that the collapse of Evergrande would not be too surprising,
02:30 since the financial sector was already prepared for it.
02:33 Finance professionals have been preparing for the demise of the Evergrande Group for quite some time already.
02:40 Everybody knew the Evergrande Group was too much in debt to be saved.
02:46 Because you're talking about 2.4 trillion RMB of debt and maybe only 1 trillion yuan in assets.
02:55 So if liquidation comes, even for the secure creditors, I don't think you can get anything more than half.
03:03 Xu Jiayin is now being watched and detained, adding uncertainty to Hengda's restructuring plan.
03:08 If the debtors fail to reach an agreement, there is a chance of a clear cut.
03:13 The analyst believes that everyone has spent some time dealing with the collapse of Hengda,
03:17 so the forecast will not cause too much trouble.
03:20 I think because the banking system has a long time to be prepared for the Evergrande collapse,
03:27 I don't think it will cause too much trouble if and when liquidation comes along.
03:34 After the collapse of Hengda, Xu Jiayin was taken away by law enforcement agencies.
03:42 Many Chinese media described him as the richest man in China,
03:48 and the richest man in China, the one with the most debt.
03:52 Xu Jiayin was born in a rural area and became the richest man in China.
03:57 He was also known as China's great philanthropist, and a foreign entrepreneur.
04:01 But the 20-year glory seems to be coming to an end.
04:05 Xu Jiayin is a legendary example of a poor boy in China.
04:10 In 1996, Hengda was founded in Guangzhou and relied on a large amount of debt to promote company development,
04:15 becoming the largest US dollar debt borrower in the same industry.
04:19 Once, it was also the largest developer in China in terms of contract sales.
04:23 At the peak, Hengda owned more than 1,300 projects in 280 cities.
04:29 Hengda was the largest real estate group in China and the largest real estate group in the world,
04:35 and entered the top 500 in the world.
04:37 At that time, Xu Jiayin was the most ambitious.
04:41 The following year, he donated 4.2 billion yuan to China, and became the first philanthropist in China.
04:46 Xu Jiayin was listed on the Forbes China Charity List five times.
04:50 The number of times he was listed and the number of donations is the first philanthropist in China.
04:57 In addition, Xu Jiayin is also recognized as one of the patriotic entrepreneurs.
05:01 Over the past few years, he has won the National Debt Relief and Employment Award,
05:04 the National Labor Card, the National Party Committee Secretary of the Enterprise,
05:08 and the reform and opening up of the 40th anniversary of the reform, and has clearly won the honor of being a famous entrepreneur.
05:13 But because of the debt crisis this time, Xu Jiayin's net worth has shrunk by more than 90% in the past two years.
05:20 According to the Bloomberg's "Billionaire" index,
05:23 Xu Jiayin once had a net worth of 4.2 billion yuan, and was the second richest man in Asia.
05:28 But now his net worth has shrunk to about 3 billion yuan, shrinking by 93%.
05:35 Xu Jiayin's personal property has shrunk rapidly due to the debt crisis this time.
05:39 But Chinese media found that he seemed to have been prepared for it.
05:43 He was exposed in 2022, and he had divorced his wife, Ding Yumei, and was interpreted as a division of property.
05:50 His son was also exposed. Before Xu Jiayin announced the bankruptcy of Hengda,
05:56 he received a sum of up to 230 million yuan, which is about 1.4 billion yuan of single-parent trust fund.
06:04 It is known as the "second generation protection plan" given to his son by his father.
06:09 (Bell tolls)
06:12 (Silence)