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 and shortfalls ordered repaid. Named defendants include Zhen
Litao, Ke Peng, Xu Tenghe, Xu Zhijian, Du Liang and Liang Dong.