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Tycoon Who Helped Evergrande Has Debt Challenges of His Own

  • Zhang’s net worth has plunged as Suning.com posted a loss
  • Like other billionaires, he uses ties with fellow tycoons
Hui Ka Yan celebrates with investors, including Zhang Jindong to his left, holding 86.3 billion yuan of equity interests in Beijing on Sept. 29.
Hui Ka Yan celebrates with investors, including Zhang Jindong to his left, holding 86.3 billion yuan of equity interests in Beijing on Sept. 29.Source: Evergrande
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Hui Ka Yan built China Evergrande Group with support from a tight-knit group of fellow real estate billionaires with a fondness for poker.

When he forged a deal last month to avert a cash crush, Hui relied on another friend: one who made his fortune selling washing machines and air conditioners and shares his passion for soccer.