After the Shenzhen Intermediate People’s Court in China publicly pronounced judgment on June 20 on cases involving Evergrande Group, Evergrande Real Estate, and Xu Jiayin, the companies’ debts have once again drawn market attention.
According to the Chinese media outlet Red Star Capital Bureau, a batch of claims related to Evergrande have recently been listed on the Alibaba Assets platform, with the total claims exceeding 270 million yuan. The auctions for these claim portfolios are scheduled from August 25 to September 26, with starting bids ranging from 9.9 yuan (about 5.95 ringgit) to 301 yuan. The auctions have garnered over ten thousand views so far, with a total of 52 people registered to participate.
The report notes that, based on incomplete statistics, there are 12 batches of claims involving Evergrande being auctioned, with Beijing Hongyuan Hui Auction and others as the disposing institutions. Each auction includes multiple claims, some of which are receivables from Evergrande-related companies.
The report states that the claims involving Evergrande-related companies exceed 270 million yuan. For example, one claim totaling 103 million yuan includes 82.7346 million yuan of receivables from Evergrande Hengchi New Energy Vehicle Research Institute (Shanghai) Co., Ltd., and 963,900 yuan of receivables from Hengchi New Energy Vehicle Sales Co., Ltd. The starting bid for this batch is just 99 yuan.
The report points out that among Evergrande-related claims, those involving automobiles and new energy are relatively large in amount, especially claims related to Evergrande Hengchi New Energy Vehicle Research Institute (Shanghai) Co., Ltd., which appears in several claim portfolios, with receivables ranging from 1.8847 million yuan to 82.7346 million yuan.
The report also quotes Manager Wang from Hongyuan Hui Auction, who pointed out that these claim portfolios are all undisputed claims; the auction is not a judicial auction but a normal commercial auction, handled by the auction house at the consignor's request. The starting bid is not a fixed price; if there are many people interested, the claim price will rise.