EVERGRANDE Group and Chairman Face Court Hearing in Major Financial Case

Deep News04-14

A court hearing for the case involving EVERGRANDE Group, its real estate subsidiary, and its chairman, Xu Jiayin, was held from April 13 to 14, 2026, at the Shenzhen Intermediate People's Court in Guangdong Province. The companies and the executive faced multiple charges, including illegal fundraising and financial fraud.

During the proceedings, the court conducted investigations and heard arguments from both the prosecution and the defense. The accused companies and Xu Jiayin made final statements, with Xu expressing remorse and admitting guilt in court. A verdict will be announced at a later date.

The hearing was attended by representatives of the public, including members of legislative and political advisory bodies, relatives of the defendant, and representatives of individuals involved in the fundraising activities.

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