Securities Supervision Commission: Xia Haijun took lifelong measures to ban the securities market and confiscated 15 million

On September 25th, the China Securities Supervision Commission issued a decision on administrative penalties (Xia Haijun). Xia Haijun was the vice chairperson and president of the board of directors of China Evergrande Group at the time. The Securities Supervision Commission decided: for Hengda Real Estate's disclosure of false records in the 2019 and 2020 annual reports, Xia Haijun was given a warning and fined 5 million yuan; for the fraudulent issuance of bonds of Hengda Real Estate's public distribution company, Xia Haijun was fined 10 million yuan. In view of Xia Haijun's organization and arrangement of the preparation of false financial reports, the means are particularly bad and the circumstances are particularly serious, and Xia Haijun was banned from the securities market for life.