Named well-known real estate companies such as Evergrande and Baoneng, resulting in overdue commissions exceeding 1 billion yuan! Developer of Zhongyuan Group | Employee | Commission
On August 20th, Red Star Capital Bureau reported that veteran real estate agency Zhongyuan Group has been exposed by developers for owing commissions exceeding 1 billion yuan, resulting in the inability to pay employee commissions, and has "named" well-known real estate companies such as Jiazhaoye, Evergrande, and Baoneng.
Recently, a document titled "Notice on Shenzhen Zhongyuan Feedback and Advance Payment Commission Related Matters" has been circulating online. The mention that "developers/agents have not yet paid commissions of over 1 billion yuan to Shenzhen Zhongyuan" has attracted attention.
Image from the internet
The document states that in recent years, the real estate industry has been in a downturn, and major developers have been unable to pay sales commissions to Zhongyuan Group and its related companies, resulting in continuous huge losses for the company. According to statistics, developers/agents have not yet paid commissions of over 1 billion yuan to Shenzhen Zhongyuan. Currently, the amount of litigation for commission recovery has been initiated in court, which is 535 million yuan.
It is worth noting that the document "names" developers such as Jiazhaoye, Evergrande, Baoneng, Shimao, Longguang, etc., and states that these are the main key developers and projects sued by Shenzhen Zhongyuan.
Red Star Capital Bureau has noticed that the above-mentioned document was signed as "Shi Junrong, CEO of Zhongyuan Group" on August 11, 2023. On August 20th, Shenzhen Zhongyuan replied to Interface News that the document was "true".
![Named well-known real estate companies such as Evergrande and Baoneng, resulting in overdue commissions exceeding 1 billion yuan! Developer of Zhongyuan Group | Employee | Commission](https://a5qu.com/upload/images/b031be6ef5f8ad41c8bb817467d1ab50.jpg)
As mentioned in the document, according to the practice of the real estate sales industry for many years, the income of sales personnel includes basic salary and commission commissions, which need to be paid after receiving sales commissions from developers/agents.
However, Zhongyuan Group stated that it and Shenzhen Zhongyuan do not have the prerequisite to advance employee commissions and partner commissions before receiving sales commissions from developers/agents. Even if only the commission for grassroots employees is advanced, the amount of funds that need to be advanced has exceeded 400 million yuan. Considering the survival difficulties of some particularly difficult employees, the Board of Directors of Zhongyuan Group has decided to provide special hardship compensation to employees who face special difficulties.
Red Star Capital Bureau found through a search on the Tianyancha app that Zhongyuan Real Estate Agency Co., Ltd. currently has multiple judicial disputes, and many cases related to commissions are ongoing.
According to official website information, in 1978, Shi Yongqing and his companions founded Zhongyuan Real Estate Agency. After more than 40 years of development, Zhongyuan Real Estate has become a comprehensive real estate service enterprise mainly engaged in real estate brokerage and agency business for new and second-hand houses. It has multiple sub brands such as Zhongyuan Real Estate, Lijiage Real Estate, and Sentuopu. At present, Zhongyuan Group has more than 55000 employees, 2500 directly operated shops, and has established branches in 60 cities worldwide.