The first trial of Evergrande Group, Evergrande Real Estate and Xu Jiayin opened, and Xu Jiayin pleaded guilty and repented in court.

, 2026, the Shenzhen Intermediate People's Court of Guangdong Province prosecuted the defendant unit Hengda Group Co., Ltd., which was prosecuted by the Shenzhen People's Procuratorate, for illegally absorbing public deposits, fraudulent fund-raising, illegal loan issuance, fraudulent issuance of securities, illegal disclosure of important information and unit bribery. The defendant unit Evergrande Real Estate Group Co., Ltd. fraudulently issued securities, and the defendant Xu Jiayin illegally absorbed public deposits, fraudulently raised funds, illegally issued loans, illegally used funds, fraudulently issued securities, disclosed important information in violation of regulations, embezzled by duty, and bribed by the unit. During the

trial, the court presided over the court investigation and debate between the prosecution and the defense around the facts of the charges, and the defendant unit and Xu Jiayin made a final statement. Xu Jiayin pleaded guilty and repented in court. The court will choose a date for sentencing.

Some deputies to the National People's Congress, members of the Chinese People's Political Consultative Conference, relatives of defendant, and representatives of participants in fund-raising attended the hearing.