Fuli, a hundred billion real estate enterprise, was applied for bankruptcy reorganization by concrete enterprises!

On July 13, according to the National Enterprise Bankruptcy Reorganization Case Information Network, Guangzhou Fuli Real Estate Co., Ltd. was applied for bankruptcy reorganization by Guangdong Xiangzheng Commerce and Trade Co., Ltd. and Guangzhou Guangfeng Concrete Co., Ltd . The handling court is Guangzhou Intermediate People's Court of Guangdong Province.

According to the annual report of Fuli 2022, Fuli Real Estate continued to record substantial losses in 2022, with a net loss of 15.779 billion yuan, total assets of 368.921 billion yuan and total liabilities of 301.98 billion yuan; In 2021 of the last reporting period, the net profit loss of Fuli Real Estate was 16.47 billion yuan, and the cumulative loss in two years reached 32.2 billion yuan. On April 14,

2023, Fuli Real Estate announced on the Hong Kong Stock Exchange that the total sales revenue in March 2023 was about RMB 3.91 billion, with a sales area of about 202100 square meters. By the end of March 2022, the total sales revenue was about 7.37 billion yuan, and the sales area was about 426800 square meters. On June 16,

2023, according to market sources, Zhang Li, co-founder of Fuli Real Estate, agreed to be extradited from London to the United States, where he will face criminal charges of bribery.

Sources said that according to British court documents, Zhang Li "agreed to be extradited to the United States on the premise of conditional bail". He was arrested at Heathrow Airport in London last year.

U.S. law enforcement agencies allege that 70-year-old Zhang Li paid bribes and kickbacks to San Francisco officials to obtain a development permit for a mixed-use residential and commercial complex. Zhang Li is suspected of paying for hotel accommodation and giving gifts to an American official when he was on vacation in China. The total amount of bribery is estimated to be between $40000 and $70000.

In fact, Fuli has been in debt crisis since 2021. Not long ago, with the realization of the overall extension of domestic bonds, Fuli became the first domestic real estate company to successfully extend all domestic and overseas bonds, with a total debt of about 46.6 billion yuan.