New Hope Group's Liu Yonghao Said to Owe Over 80 Billion Yuan with Debt-to-Asset Ratio Above 70%
According to comments, New Hope Group founder Liu Yonghao (Liu Yonghao) was once China's richest man; the group is now burdened with over 80 billion yuan in debt, a debt-to-asset ratio exceeding 70%, and is mired in a severe debt crisis.