Browsing Tag

real estate

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‘I have nothing left to live for’: Evergrande meeting descends into chaos as investor pulls knife and threatens to kill herself

Evergrande video

A compilation video that shows desperate investors confronting Evergrande staff amid the company’s financial issues has gone viral on Chinese social media platform Weibo.

The confrontation: The 10-minute-long video was published on Sept. 29 to Weibo by local news site Xing Tai Shen Bian Shi, who did not specify when and where the videos were taken, according to Insider.

Evergrande founder sparks backlash after asking employees to ‘work hard’ through ‘adversity’

Evergrande founder sparks backlash online

China Evergrande Group’s former chairman Xu Jiayin has earned the ire of Chinese social media users after a letter he allegedly sent to employees leaked online on Tuesday. 

Fanning the flames: Evergrande founder Xu Jiayin, whose current net worth slightly dropped to $10.7 billion, angered people online after a letter he penned was shared on Weibo, reported Business Insider

Chinese real estate company — whose ex-chairman is worth an estimated $11.2 billion — is accused of swindling investors

Evergrande investors angry at the company

The second-largest real estate developer in China, China Evergrande Group, is facing a massive liquidity crisis that has sparked anger among investors and homebuyers. 

Evergrande’s financial troubles: The company’s years of borrowing have resulted in a colossal debt, amounting to over more than $300 billion, and a struggle to pay overdue bills and multiple wealth management products, reported the Washington Post.