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recently, the china securities regulatory commission issued an administrative penalty decision, imposing administrative penalties on xia haijun, then vice chairman and president of china evergrande group.

screenshot source: csrc website

the csrc decided to give xia haijun a warning and impose a fine of 5 million yuan on evergrande real estate for its illegal act of disclosing false records in its 2019 and 2020 annual reports;

in response to the fraudulent issuance of corporate bonds by evergrande real estate, xia haijun was fined 10 million yuan.

in view of the fact that xia haijun organized and arranged the preparation of false financial reports with particularly bad means and serious circumstances, xia haijun will be banned from the securities market for life.

xia haijun profile picture

public information shows that xia haijun was born in harbin in 1964 and served as vice chairman and president of the board of directors of china evergrande group. on the evening of july 22, 2022, china evergrande issued an announcement announcing that xia haijun resigned from his positions as ceo and executive director of china evergrande.

xia haijun had been punished by the industry before. on may 13, the shenzhen stock exchange issued a notice on the delivery of the "preliminary notice of disciplinary action", proposing to publicly recognize xia haijun as unsuitable for life to serve as a director, supervisor, or senior manager of a bond issuer and publicly reprimand him.

source: people's daily