Translated by Claude, edited by Sinocism.com

Source: Xinhua | August 20, 2026

Xinhua, Shenzhen, August 20 — On the morning of August 20, 2026, the Shenzhen Intermediate People's Court of Guangdong Province delivered its first-instance public verdict in the cases of the defendant units Evergrande Group Co., Ltd. (hereinafter Evergrande Group) and Evergrande Real Estate Group Co., Ltd. (hereinafter Evergrande Real Estate) and the defendant Xu Jiayin. Evergrande Group was given combined punishment for multiple crimes and fined 8.82 billion yuan; Evergrande Real Estate was fined 7 billion yuan; Xu Jiayin was given combined punishment for multiple crimes and sentenced to life imprisonment, deprivation of political rights for life, and confiscation of all his personal property; the recovery of illegal gains will continue, with any shortfall ordered to be returned and compensated.

新华社深圳8月20日电 2026年8月20日上午，广东省深圳市中级人民法院对被告单位恒大集团有限公司（以下简称恒大集团）、被告单位恒大地产集团有限公司（以下简称恒大地产）、被告人许家印案进行一审公开宣判。对恒大集团数罪并罚，判处罚金人民币88.2亿元；对恒大地产判处罚金人民币70亿元；对许家印数罪并罚，判处无期徒刑，剥夺政治权利终身，并处没收个人全部财产；对违法所得继续追缴，不足部分责令退赔。

Upon trial, the court found that the defendant Xu Jiayin is the actual controller of the defendant unit Evergrande Group, taking overall charge of the group's operations and managing and controlling the defendant unit Evergrande Real Estate as well as Evergrande Wealth, Evergrande Nanchang and other enterprises, investing in real estate, property management, finance and other fields. Between 2016 and 2021, Evergrande Group, Evergrande Real Estate and Xu Jiayin violated national laws by using means such as sustained, large-scale financial fraud to inflate assets and conceal liabilities, respectively committing the crimes of illegally taking in public deposits, fundraising fraud, fraudulent issuance of securities, and illegal disclosure of important information; Evergrande Group and Xu Jiayin obtained control of financial institutions through means such as bribery, illegally siphoning credit funds and insurance funds for Evergrande Group's use, and committing the crimes of unit bribery, illegally granting loans, and illegally using funds. Xu Jiayin also exploited his position as chairman of Evergrande Real Estate to organize financial fraud, embezzling company property under the guise of dividends.

法院经审理查明，被告人许家印系被告单位恒大集团的实际控制人，全面负责集团运营活动，管理、控制被告单位恒大地产及恒大财富、恒大南昌等多家企业，投资地产、物业、金融等领域。2016年至2021年间，恒大集团、恒大地产及许家印违反国家法律规定，以持续性、大规模财务造假等手段，虚增资产、隐瞒负债，分别实施了非法吸收公众存款、集资诈骗、欺诈发行证券、违规披露重要信息等犯罪行为；恒大集团及许家印通过行贿等手段取得金融机构控制权，违法套取信贷资金、保险资金归恒大集团使用，实施了单位行贿、违法发放贷款、违法运用资金等犯罪行为。许家印还利用作为恒大地产董事长的职务便利，组织财务造假，以分红名义侵占公司财产。

The court held that the conduct of the defendant unit Evergrande Group and the defendant Xu Jiayin constituted the crimes of illegally taking in public deposits, fundraising fraud, illegally granting loans, fraudulent issuance of securities, illegal disclosure of important information, and unit bribery; Xu Jiayin's conduct also constituted the crimes of illegally using funds and occupational embezzlement; the conduct of the defendant unit Evergrande Real Estate constituted the crime of fraudulent issuance of securities. Evergrande Group and Xu Jiayin should be given combined punishment for multiple crimes in accordance with the law. The criminal acts of Evergrande Group, Evergrande Real Estate and Xu Jiayin seriously undermined the order of the socialist market economy, infringed on public and private property rights and interests, and violated the integrity of state functionaries' official conduct; the amounts involved were especially large, the circumstances especially vile, causing especially significant economic losses and especially serious social harm, and warrant severe punishment in accordance with the law. Based on the criminal facts, nature, circumstances and degree of social harm of the defendant units and defendant, the court lawfully rendered the above judgment. Under the law and judicial interpretations, the return and compensation of losses takes precedence over the execution of fines and confiscation of property.

法院认为，被告单位恒大集团、被告人许家印的行为已构成非法吸收公众存款罪、集资诈骗罪、违法发放贷款罪、欺诈发行证券罪、违规披露重要信息罪、单位行贿罪；许家印的行为还构成违法运用资金罪、职务侵占罪；被告单位恒大地产的行为已构成欺诈发行证券罪。对恒大集团、许家印应依法数罪并罚。恒大集团、恒大地产及许家印的犯罪行为严重破坏社会主义市场经济秩序，侵犯公私财产权益，侵害国家工作人员职务行为的廉洁性，犯罪数额特别巨大，情节特别恶劣，造成特别重大经济损失，社会危害特别严重，应当依法严惩。法院根据被告单位、被告人的犯罪事实、性质、情节和对于社会的危害程度，依法作出上述判决。根据法律及司法解释规定，退赔损失优先于罚金刑、没收财产刑的执行。

On the same day, the Shenzhen Intermediate People's Court and the Nanshan District People's Court of Shenzhen also publicly delivered verdicts in cases involving personnel connected to Evergrande Group for illegally taking in public deposits, fundraising fraud, and illegally using funds, lawfully sentencing 56 people including Zhen Litao, Ke Peng, Xu Tenghe, Xu Zhijian, Du Liang and Liang Dong to fixed-term imprisonment ranging from eighteen years to one year and ten months, along with fines or confiscation of property; the recovery of illegal gains will continue, with any shortfall ordered to be returned and compensated.

同日，深圳市中级人民法院、深圳市南山区人民法院还公开宣判了恒大集团相关涉案人员非法吸收公众存款、集资诈骗、违法运用资金等案，依法对甄立涛、柯鹏、许腾鹤、许智健、杜亮、梁栋等56人判处有期徒刑十八年至一年十个月不等的刑罚，并处罚金或没收财产；对违法所得继续追缴，不足部分责令退赔。

Some deputies to the People's Congress and members of the CPPCC, relatives of the defendant, and representatives of fundraising participants attended the sentencing.

部分人大代表、政协委员，被告人亲属，集资参与人代表等旁听了宣判。