Xu Jiayin Sentenced to Life Imprisonment; Evergrande Group and Evergrande Real Estate Receive First-Instance Verdicts

On the morning of August 20, 2026, the Shenzhen Intermediate People's Court in Guangdong Province publicly announced its first-instance verdicts for Evergrande Group, Evergrande Real Estate, and defendant Xu Jiayin. Evergrande Group was sentenced to a combined penalty of RMB 8.82 billion in fines for multiple offenses; Evergrande Real Estate was fined RMB 7 billion; Xu Jiayin was sentenced to life imprisonment for multiple offenses, deprived of political rights for life, and had all personal property confiscated; illegal gains will continue to be recovered, with shortfalls to be compensated through restitution orders.

On the same day, the Shenzhen Intermediate People's Court and the Shenzhen Nanshan District People's Court also publicly announced verdicts in cases involving related personnel of Evergrande Group for illegally absorbing public deposits, fundraising fraud, and illegal use of funds. A total of 56 individuals, including Zhen Litao, Ke Peng, Xu Tenghe, Xu Zhijian, Du Liang, and Liang Dong, were sentenced to fixed-term imprisonment ranging from 18 years to 1 year and 10 months, along with fines or confiscation of property; illegal gains will continue to be recovered, with shortfalls to be compensated through restitution orders.

[TechFlow]