According to Sohu. Com, Xuhui real estate has exploded. In June 2022, Xuhui Holding Group announced that it would stop paying the principal and interest of a debt of US$ 4,654,380,400, marking its official "thunder". Xuhui Holding Group continued to lose 6.432 billion yuan in the first half of 2023, down 456.69% year-on-year, and its asset-liability ratio was as high as 77. 1%, indicating that it was facing declining performance and debt repayment pressure.