Qian Zhiqiu is also a well-known name in the Chinese business world. He has seen all kinds of occasions. Although the investigation team is strong, Qian Zhiqiu remains calm and responds appropriately.

"We are in the same city, and Hengtai Group is a nationally renowned enterprise. It is normal for the mayor in charge to be familiar with him!" Qin Shi did not ask any further questions.

"We are familiar with each other, but we all have different positions, and this is just a work relationship."

There was no change on Qian Zhiqiu's face, but cold sweat covered his back. Qin Shi seemed nonchalant, but he hadn't said a single word since he entered the room. He looked young, but he was a ruthless person.

"Don't worry, Mr. Qian, it's just a small talk. So shall we officially begin now?"

"Oh? Okay, sure!"

It's just a casual chat. Haven't you started cooperating with the investigation yet?

Someone else came in. The two newcomers, Binghe and Rumeng, were assigned the task of recording. They just sat there silently, recording the conversation of several people truthfully.

"Hengtai Group has a lot of negative news right now. It seems like many of its projects aren't being delivered on time. Some have even collected all the money from the people, but haven't even built any houses yet."

"Team Leader Qin is asking about this aspect. The truth is, construction is only one part of real estate development. Of course, ordinary people only judge a property by whether or not the buildings are built, but that's one-sided. There are many other aspects that need to be addressed. What you're talking about does exist, but it's not just at Hengtai; other real estate companies have this problem too..."

Qian Zhiqiu was spreading real estate knowledge to Qin Shi in a very confident manner, like a teacher, and he seemed very proud in his words.

"Mr. Qian, there's no need to go into these details. As for other companies, they have nothing to do with Hengtai. I just want to know why Hengtai's houses cannot be delivered on time!" Qin Shi interrupted Qian Zhiqiu directly.

"Team Leader Qin, this matter is indeed very complicated. Since you asked, I am not afraid of offending anyone. If it were someone else, I really wouldn't be able to open my mouth!" Qian Zhiqiu looked a little embarrassed.

"Boss Qian, this is the attitude you need. With me here, there's nothing to worry about. Just tell me what you want to say!"

"Well, it's not that we don't want to deliver the houses, nor is it that we don't have the ability to deliver the houses. You are in a high position, so you don't know how troublesome and demanding it is for the provinces and cities below to do things. Especially for companies like ours, we have to deal with interference from local snake companies and corresponding local policies. Most of the slow construction speed of real estate projects is due to local policies and leaders. If you weren't sitting here today, I really wouldn't dare to complain!"

Looking at Qian Zhiqiu's pitiful face, Qin Shi almost laughed out loud. This was not the first time he had done investigation work. Qin Shi knew clearly what was the truth, what was a lie, and what was a cliché.

"I understand your difficulties, but how do you explain this information?"

Qin Shi casually took out a piece of information and threw it in front of Qian Zhiqiu.

"Right now in China, your Hengtai Group has over a thousand projects under construction. Leaving aside unfinished projects, there are approximately 700,000 pre-sold commercial housing units that won't be delivered on time. Millions of people are directly affected. Is this all due to the local government?"

"Well, I know about this matter. I have submitted the investigation report on the accepted but unfinished projects to the relevant departments. There are too many factors involved, and I'm afraid I can't explain it clearly in a single sentence."

"If you can't explain it clearly, let's talk about it slowly. I have plenty of time. This is the information you submitted to Hengtai. We verified it with the local government and found some serious discrepancies. How do you explain this?"

While Qin Shi was asking, he threw out another document. It was the report mentioned by Qian Zhiqiu and the research and evidence collection documents on the authenticity of the report. During this period, the investigation team was working overtime on these things.

"I'm sorry, Team Leader Qin, this is the first I've heard of this. When I get back, I'll have the companies and project departments recount and compare the results. I'll let you know as soon as possible!"

Things were a little different from what he had imagined. Qian Zhiqiu hadn't expected the investigation team to look into these matters. If this continued, it might not be good for Hengtai's reputation! But for now, he could only put the matter aside and figure out how to deal with it later.

"Okay, let's talk about that later. Let's move on to Hengtai's debt ratio! Hengtai's total assets are 1.84 trillion yuan, and its total liabilities are 2.44 trillion yuan. As of now, the debt ratio is about 133%. Isn't this data a bit terrifying?"

Insolvency is the company's biggest problem and Hengtai's biggest difficulty now, but Qin Shi directly lifted the veil on Hengtai.

"Team Leader Qin, you may not know much about China's real estate. The debt ratio is indeed a bit high, but there is nothing we can do about it. China has a vast territory, and there are great differences between the north and the south, whether it is cultural habits or geographical climate. Therefore, the debt ratio of real estate in China is a bit high. This is also known to everyone in the industry." Speaking of the debt ratio, Qian Zhiqiu's face was no longer good-looking.

"Mr. Qin, as the general manager of Hengtai Group, must know more about real estate than I do. So, I'd like to ask Mr. Qian, what are the three red lines in real estate?"

Don’t always say that you don’t understand and then take whatever you say as the truth. Qin Shi didn’t tolerate Qian Zhiqiu and asked directly.

"The three red lines in real estate refer to Huaxia's policies, which are designed to limit risks in the real estate industry and prevent excessive financing. Simply put, the debt-to-asset ratio excluding prepayments must not exceed 70%, net debt must not exceed 100%, and the cash-to-short-term debt ratio must not be less than 100%."

This chapter is not finished yet, please click on the next page to continue reading the exciting content!