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Evergrande on the verge of collapse? President has already received 7 billion euros in dividends – Observer



Evergrande on the verge of collapse?  President has already received 7 billion euros in dividends - Observer

Founder and President Evergrande, the Chinese real estate giant, on the verge of collapse, got the equivalent 6.8 billion euros in dividends retrieved from the company since 2009. Although that year Hui Ka Yan after it went public on the Hong Kong Stock Exchange, it retained a super-majority stake in 77% – and over the years, even as the company’s debt grew more and more to sky-high levels, Evergrande (almost) never lost dividends.

These dividends could be used to raise the company’s capital or to pay off debt. But they were taken from Evergrande and for the most part put in one man’s pocket. This is in view of the fact that only a smaller part of the capital was allocated by investors, except Hui Ka Yan, founder of a company that has attracted investors in recent years with a 13% stake and Gucci bags.

Evergrande. The Chinese giant that owns the soccer club that seduced people with 13% stake and Gucci bags

From a rural and very humble background, it has grown to China’s richest man has been driving China’s economic transformation since the 1990s… He started real estate development just in time to cope with the rapid economic growth and insatiable demand for housing associated with the rural exodus that was the source of some of China’s largest metropolitan areas today. He even had a fortune estimated at the equivalent of over 30 billion euros.


Now that the value of Evergrande shares on the stock exchange has fallen by more than 80%, its global capital has shrunk to the equivalent of about 10 billion euros (Forbes score). That is, most of his wealth comes from dividends received from a company with a debt of more than $ 300 billion (about 255 billion euros) – and she did not even have to pay taxes on these dividends, because this does not happen in Hong Kong.

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In 2010, in the first (full) year of Evergrande’s existence on the stock exchange, with the company’s $ 13 billion in debt, Hui received almost 200 million dividends… Five years later, in 2015, when Evergrande already owed the bank and investors 95 billion, the president received almost from the company. 600 million dividends

2016, in which debt nearly doubled to $ 180 billion, was the only year that no dividend distribution was made. But shortly thereafter, in 2017, Hui Ka Yang took revenge and left. 1.777 million dividends, after 2,232 million in 2018… At that point, total debt reached the equivalent of $ 243 billion, according to company reports and accounts cited by Forbes.

The next year, 2019, with debt already rising to $ 286 billion, Hui Ka Yang nevertheless offered himself over $ 1 billion in dividends, which only declined in 2020, the year when debt has crossed the $ 300 billion threshold, that is, has tripled in five years (since 2015)… Even in that year 2020, with this level of debt and a worldwide pandemic, Hui Ka Yang earned $ 239 million in dividends.

Hui Ka Yan photographed in 2009 when Evergrande went public on the Hong Kong Stock Exchange.

The decapitalization that occurs when dividends are paid is one of the risks that currently heightens concerns about the company’s survival. To alleviate this capital shortage, according to a report by The New York Times, the group asked employees themselves to invest in savings products sold by Evergrande (in fact, by asking them to lend money to the company) – whoever refused could not receive a bonus premium.

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Several cities in China are hosting demonstrations organized by the same Evergrande employees who say their employer convinced them to invest in these “money management” products – now they face a serious risk of losing everything or almost everything. … Some investors have already been offered payment extensions, but without guarantees.

And there is another problem: if Evergrande collapses and its operations are suspended, those who have already made money (initial deposits) to the company to buy houses for them now risk being left without money – and without a home. The financial pressures are “enormous,” Evergrande admitted, blaming newspapers and the press for “negative news” that is dampening the group’s sales (and presumably supplying cash in exchange for products it distributes to citizens).

Evergrande failed to meet debt maturity, and group unit admits financial ruin

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

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high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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