Extravagant Reception for Evergrande's Founder at Subsidiary Visit

Deep News04-29

Xu Jiayan, the 67-year-old founder of Evergrande, recently faced trial where he pleaded guilty and expressed remorse, with a verdict to be announced at a later date. Internal documents from Evergrande, specifically the "Daily Executive Inspection Briefings," reveal that his visits to subsidiary companies were characterized by extreme extravagance.

In April 2018, prior to Xu's inspection of Evergrande's Shenyang branch, a dedicated reception team was formed. This team coordinated dozens of times with the executive office, planning the itinerary down to the minute. Xu insisted on traveling exclusively in a Rolls-Royce Extended Wheelbase Phantom. As no such vehicle was available locally in Shenyang, the subsidiary arranged to rent one from Dalian at a daily cost of 22,000 yuan.

The subsidiary booked an entire floor of the Shenyang Marriott Hotel, and even secured restricted access to key areas on the floors above and below. All hotel staff were required to wear specially made soft-soled flats to ensure no noise was made while walking. The presidential suite reserved for Xu cost 28,880 yuan per night. The room's humidity was strictly maintained at 50%, and a silent air purifier, flown in from the headquarters, was installed.

The carpets in the presidential suite and along the corridors were meticulously brushed by staff using fine-bristled brushes, all strokes made in the same direction to ensure no visual inconsistencies when Xu walked on them. All light bulbs in the hotel room and temporary rest areas at the construction site were replaced with specific warm-toned bulbs of a designated wattage, as this lighting was believed to make Xu's complexion "appear healthiest."

All standard toiletries were replaced with Xu's preferred brands. The water temperature in the shower had to be precisely adjusted by his secretary 15 minutes before his arrival. Insisting his hair remain perfectly immaculate, a hairstylist accompanied him throughout the Shenyang visit, carrying a special strong-hold hairspray.

The subsidiary imported fruit from Japan at a total cost of nearly 40,000 yuan. This included "Black Diamond" watermelons priced at 1,000 yuan each, certain netted melons at 100 yuan each, and Shizuoka crown melons costing 1,000 yuan each. Employees wearing silk gloves inspected every Shizuoka melon with high-magnification loupes; any melon with even a 1-millimeter blemish or color imperfection was discarded.

The designated drinking water was Evian mineral water from France, priced at 2,700 yuan per bottle. Twelve bottles were prepared, with all labels meticulously positioned to face southeast, ensuring the brand logo was the first thing Xu saw when reaching for a bottle. The water temperature was required to be maintained between 10°C and 12°C, checked every half-hour with an infrared thermometer. Matchboxes had to be placed with the opening facing right at a 45-degree angle to the table edge for easy access.

The local project team rehearsed details down to the precise angle for handshakes and the exact second for fountain activations. Arrangements included a top-tier motorcade following the arrival of his private jet, coordination for full road closures, and strict specifications for the attire and walking pace of all accompanying personnel.

On April 12, 2018, Xu arrived at Shenyang Xiantao International Airport via private jet. After an hour-long meeting, he proceeded to the hotel, accompanied by bodyguards, secretaries, his hairstylist, and executive office staff. His entourage brought high-end ingredients for a private chef to prepare lunch, featuring dishes like braised sea cucumber with scallions and "Fried Eight Pieces," a Henan specialty. Following the meal was his invariable nap period, which included a 20-minute massage from a dedicated female therapist.

In the afternoon, Xu inspected the "Evergrande Huafu" construction site. The reception team had measured the distance from the Rolls-Royce drop-off point to the viewing platform a week in advance. They calculated the number of steps Xu would take based on his average stride (approximately 45 steps) and marked the ground accordingly to ensure he stopped at the optimal spot for photography. To mask the smell of earth from the construction site, the team considered spraying a light perfume along the route but abandoned the idea for fear of causing an allergic reaction.

A "temporary executive restroom" was constructed on-site, featuring a temperature-controlled toilet, a specific brand of light air freshener, and a thin layer of foam on the water surface to prevent splashing and neutralize odors.

The following morning, after a workout in the gym, Xu departed Shenyang by air, marking the conclusion of the inspection. This costly and elaborate spectacle came to an end as his private jet left the city.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment