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On the morning of Aug 20, 2026, the Shenzhen Intermediate People’s Court issued first-instance verdicts in cases against Evergrande Group Co., Ltd., Evergrande Real Estate Group Co., Ltd. and Xu Jiayin. Evergrande Group was fined RMB 8.82 bln followi

2026-08-20

On the morning of Aug 20, 2026, the Shenzhen Intermediate People’s Court issued first-instance verdicts in cases against Evergrande Group Co., Ltd., Evergrande Real Estate Group Co., Ltd. and Xu Jiayin. Evergrande Group was fined RMB 8.82 bln following combined convictions; Evergrande Real Estate was fined RMB 7.0 bln. Xu Jiayin was sentenced to life imprisonment, deprived of political rights for life, and ordered to forfeit all personal property; illicit gains will continue to be recovered and any shortfall will be ordered repaid. The Shenzhen Intermediate Court and Nanshan District People’s Court also sentenced 56 Evergrande-related defendants for illegal public deposit-taking, fundraising fraud and illegal use of funds to fixed-term prison terms ranging from 18 years to 1 year 10 months, and imposed fines or property confiscation; illicit gains will be recovered The shortfalls were ordered repaid. Named defendants include Zhen Litao, Ke Peng, Xu Tenghe, Xu Zhijian, Du Liang, and Liang Dong.

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