Recently, the Qingdao Intermediate People’s Court issued a reward notice, calling for clues on the hidden assets of Jiangsu Nantong Sanjian Co., Ltd. and its legal representative Huang Yuhui, as well as several other executives, offering a maximum reward of 25 million yuan, attracting attention.
According to the Qingdao Intermediate People’s Court notice, the court’s (2022) Lu 02 Min Chu 213 civil judgment has come into legal effect, but the judgment debtors Nantong Sanjian and related executives (including the chairman, vice chairman, directors, supervisors, etc.) have failed to fulfill their legal obligations, with an outstanding amount of up to 253.5 million yuan.
Therefore, anyone who reports hidden or transferred assets of the judgment debtors to the Qingdao Intermediate People’s Court (excluding clues already known to the court) and helps the court enforce the judgment will be rewarded with 10% of the actual amount enforced.
Based on this calculation, the maximum reward can reach 25 million yuan.
Nantong Sanjian was once a heavyweight in the Chinese construction industry, having worked on iconic landmarks such as the Oriental Pearl TV Tower, Shanghai World Financial Center, Shanghai Center, and Beijing Capital International Airport T3 Terminal, with annual revenue surpassing 100 billion yuan at one point.
However, according to Nantong Sanjian’s financial report for the first half of 2025, the company’s revenue was 95 million yuan, a 59.31% decrease compared to the previous year; it recorded a net loss of 17 million yuan; as of the end of June, the net assets were -261 million yuan, indicating a negative value.
According to Tianyancha, Nantong Sanjian is currently involved in 422 cases of dishonesty executions amounting to approximately 1.063 billion yuan; Huang Yuhui personally has 6 execution records totaling 581 million yuan, with as many as 222 consumption restriction orders.
The plight of Nantong Sanjian today is seen by many industry insiders as being related to the Evergrande Group. In 2021, Evergrande fell into a debt crisis, with the total amount of overdue commercial papers that could not be redeemed exceeding 200 billion yuan; a large part of these commercial papers were held by various major construction companies and turned into “worthless paper” after Evergrande’s default.
A credit rating report previously released by United Credit showed that as of the end of June 2021, Nantong Sanjian had contracts with Evergrande Group totaling 8.577 billion yuan; by the end of 2020, the projects involving the Evergrande Group in the company’s inventory amounted to 3.742 billion yuan.
In addition to the amount on hand and the amount invested but not yet settled, as of the end of June 2021, the accounts receivable and notes receivable of Nantong Sanjian involving the Evergrande Group totaled 1.212 billion yuan, with around 3.1 billion yuan worth of Evergrande Group’s commercial acceptance bills already endorsed or discounted.
The “sky-high reward” for Nantong Sanjian is not an isolated case in the industry.
In May last year, the Haidian District People’s Court in Beijing issued an enforcement reward notice, targeting Lin Rongbin, the founder of the Sansheng Group; finding Lin Rongbin’s whereabouts or assets under his name (excluding clues already known to the court) and enforcing them would result in a reward of 10% of the amount enforced, with the principal amount of the case being 21.62 million yuan.
In February this year, the Futian District People’s Court in Shenzhen issued a reward notice, targeting Dongguan Taoranju Real Estate Development Co., Ltd., Zhongyi (Qingyuan) Electronics Plastic Hardware Co., Ltd., Shenzhen Hongfai Di Investments Co., Ltd., Shenzhen Hongfai Global Holdings Co., Ltd., and individual Peng Haiquan. The maximum reward amount reached 23.25 million yuan.
In July, the Wuxi Intermediate People’s Court issued a notice, offering rewards for the enforcement against Zhongnan City Construction Investment Co., Ltd., Zhongnan Holdings Group Co., Ltd., and Beijing Urban Construction Zhongnan Civil Engineering Group Co., Ltd. The amount involved in the enforcement object is approximately 313 million yuan plus interest; whistleblowers will receive a reward of 5% of the amount enforced from the property reported. The maximum reward can reach 15 million yuan.
On September 12, the Pingqiao District People’s Court in Xinyang City, Henan Province issued a reward notice, targeting Xinyang Guilong Real Estate Development Co., Ltd., with a fixed reward amount of 5000 yuan.
On October 20, the Longhua District People’s Court in Haikou City, Hainan Province also issued an enforcement reward notice, targeting Hainan Shenzhen Real Estate Development Co., Ltd., with an enforcement object amount of over 740,000 yuan; the reward will be 15% of the amount enforced.
Industry insiders believe that the courts’ initiation of the “reward enforcement” mechanism aims to leverage social forces to solve the enforcement challenges caused by judgment debtors hiding assets and refusing to cooperate, reflecting the current difficulties in execution due to the breakdown of some companies’ financial chains and the complexity of debt chains in the real estate industry.
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