Xu Jiayin’s net worth shrank by 90%. Evergrande built 760 cars in half a year and had a debt of 75.7 billion.

On the evening of September 22nd,China Evergrande issued an announcement stating that the group's sales were not as good as it expected, and the relevant agreement arrangement meetings on the proposed restructuring originally scheduled for September 25 and September 26 will not be held. Just two weeks ago, on September 8, China Evergrande issued an announcement announcing the postponement of multiple overseas debt restructuring arrangements such as the application for recognition hearing in the United States.

Five years ago, in August 2018, with the strong performance of the share price of Evergrande Health (now "Evergrande Automobile"), according to Forbes' real-time rich list at the time, Xu Jiayin's net worth at that time reached US$41.4 billion (approximately RMB 300 billion), making him the richest man in China.

In the first half of 2023, Evergrande Automobile focused on the production and delivery of Hengchi 5, with more than 760 units delivered.

Previously, Xu Jiayin explained Evergrande’s path of “changing lanes and overtaking”: “First, buy, buy, buy; second, combine and combine; third, circle and circle; fourth, big and big; fifth, good and good.” Among them, “big and big” refers to the big pattern, big strategy, and large scale.

In the field of product planning, Evergrande has joined forces with five major automotive engineering technology leaders to simultaneously develop 15 new models based on the world's most advanced 3.0 chassis architecture, covering a full range of products including top-tier, super-luxury, luxury, exclusive, comfortable, and classic models.

Specifically, Evergrande plans to have an annual production capacity of 500,000 vehicles in the world's top ten production bases, with the first phase of 100,000 vehicles.

In the next 5 to 10 years, the annual output will reach 1 million vehicles; in the next 10 to 15 years, the annual output will exceed 5 million vehicles. At the same time, Evergrande will cooperate with top sports car brand Koenigsegg and plans to produce 1,000 super sports cars annually. "Only through large-scale production can we reduce the cost of car manufacturing." Xu Jiayin said.

The "2023 Hurun Global Rich List" shows that Xu Jiayin's current net worth is only 20 billion, ranking 1,100 globally, which has shrunk by more than 90% from his peak.