Luxury Guangzhou Mansion Linked to Former Evergrande Executive Withdraws from Auction

Deep News06-01

The luxury Guangzhou mansion associated with former Evergrande executive Xia Haijun, which was scheduled for auction starting June 1st with a reserve price of 49.44 million yuan, has been withdrawn from sale. The property listing is no longer searchable on the relevant auction platform.

The property in question is a rare duplex penthouse located in Guangzhou's Zhujiang New Town, covering a built-up area of 428.32 square meters. It was assessed at 70.6265 million yuan, with the reserve price set at approximately 49.44 million yuan, equating to 115,400 yuan per square meter.

The auction was originally scheduled by the Guangzhou Tianhe District People's Court. Xia Haijun, the former vice chairman and president of

EVERGRANDE

(03333), joined the company in 2007. His compensation peaked at 270 million yuan in 2017, and his cumulative earnings from 2009 to 2022 exceeded 1.85 billion yuan.

He resigned from all positions at Evergrande in July 2022, prior to the public eruption of the company's debt crisis. In March 2024, Evergrande was found to have significantly inflated its revenue by over 560 billion yuan for the years 2019 and 2020. In September 2024, Xia Haijun was fined 15 million yuan by regulators and banned for life from the securities market.

In January of this year, a Hong Kong court upheld a ruling maintaining a wide-ranging asset freeze order, restricting him from moving assets valued up to HK$60 billion out of Hong Kong's jurisdiction.

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It was assessed at 70.6265 million yuan, with the reserve price set at approximately 49.44 million yuan, equating to 115,400 yuan per square meter.<br><br>\nThe auction was originally scheduled by the Guangzhou Tianhe District People's Court. Xia Haijun, the former vice chairman and president of <br><br>EVERGRANDE<br><br> (03333), joined the company in 2007. His compensation peaked at 270 million yuan in 2017, and his cumulative earnings from 2009 to 2022 exceeded 1.85 billion yuan.<br><br>\nHe resigned from all positions at Evergrande in July 2022, prior to the public eruption of the company's debt crisis. In March 2024, Evergrande was found to have significantly inflated its revenue by over 560 billion yuan for the years 2019 and 2020. 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The property listing is no longer searchable on the relevant auction platform.<br><br>\nThe property in question is a rare duplex penthouse located in Guangzhou's Zhujiang New Town, covering a built-up area of 428.32 square meters. It was assessed at 70.6265 million yuan, with the reserve price set at approximately 49.44 million yuan, equating to 115,400 yuan per square meter.<br><br>\nThe auction was originally scheduled by the Guangzhou Tianhe District People's Court. Xia Haijun, the former vice chairman and president of <br><br>EVERGRANDE<br><br> (03333), joined the company in 2007. His compensation peaked at 270 million yuan in 2017, and his cumulative earnings from 2009 to 2022 exceeded 1.85 billion yuan.<br><br>\nHe resigned from all positions at Evergrande in July 2022, prior to the public eruption of the company's debt crisis. In March 2024, Evergrande was found to have significantly inflated its revenue by over 560 billion yuan for the years 2019 and 2020. 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