China Evergrande Group
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in mil. unless spec.Company Description
- CEO
- Shawn Siu
- Full Time Employees
- 109,085
- Sector
- Real Estate
- Industry
- Real Estate - Development
- Address
- No.78 Huangpu Avenue West Guangzhou GD People's Republic of China 510620
- IPO Date
- May 5, 2010
- Website
- evergrande.com
- Similar Companies
- Business
- China Evergrande Group is a multi-industry enterprise primarily engaged in property development, investment, and management services, with significant operations across more than 280 cities in China. The company offers a diverse portfolio of products and services including Evergrande Real Estate, which develops high-quality residential and commercial communities; Evergrande New Energy Auto, which integrates global automotive manufacturing resources to produce electric vehicles under the Hengchi brand; Evergrande Property Services, providing comprehensive property management across housing, commercial, industrial, and public service sectors; as well as cultural tourism projects such as Ocean Flower Island. Founded in 1996 and headquartered in Shenzhen, China Evergrande has expanded beyond real estate into new energy vehicles, health, and digital technology sectors. The real estate segment includes over 1,300 projects, making it one of China’s largest developers by landbank and sales. Recent major developments include the company's liquidation initiated by a Hong Kong court in January 2024 following financial distress and defaults on its liabilities exceeding $300 billion. This process has led to a suspension of share trading and liquidation of subsidiaries to repay creditors. Evergrande ceased operations in its new energy vehicle segment in 2024 after incurring substantial losses and laying off staff. The property services business continues to operate, managing over 3,000 projects with efforts focused on digital transformation and financial oversight to sustain operations during the broader corporate restructuring. Evergrande’s strategic shift has centered on asset disposal and maintaining core property management services amid ongoing liquidation and financial reorganization. The company’s historical partnerships included collaboration with State Grid Corporation of China to develop electric vehicle charging infrastructure, but new ventures have largely been curtailed due to financial constraints. China Evergrande’s main business sectors encompass real estate development and sales, property management services, new energy vehicles (now wound down), cultural tourism investments, and health-related industries. The company’s projects span major urban areas across China, including Guangzhou, Tianjin, Wuhan, Chengdu, and more. Evergrande Property Services serves a broad customer base of residential owners, commercial tenants, institutions, and public infrastructure clients, with substantial contract and management areas nationwide. Despite the ongoing liquidation, Evergrande remains a significant historical player within China’s real estate market and retains substantial operational scale in property management. Its transformation from real estate developer to a diversified conglomerate has been largely reversed in light of recent financial crises and judicial proceedings.
Company News
China Sentences Evergrande Founder Hui to Life in Prison
China Evergrande founder sentenced to life in prison
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China Evergrande liquidators looking to sell stake in property services unit
Evergrande's $50 billion rise and fall leaves scars on China's property sector
From boom to bust: Evergrande delists from Hong Kong Stock Exchange
China Evergrande Founder In Eye of Liquidation Storm
Evergrande to Delist in China Housing Crisis Milestone
BYD executive says no 'Evergrande' risk among mainstream Chinese automakers
China Evergrande's EV unit to sell 20% stake in Swedish firm for tax needs
China Evergrande's EV unit says struggling to attract investors amid liquidity crisis
China Evergrande's EV unit to cease discussions for stake sale
Evergrande EV unit's liquidators still in talks with potential stake buyers
PWC gets ban and fine for collapsed Evergrande audits
VIEW Reactions to Beijing's record penalty on PwC over Evergrande audit
PwC China faces 6-mth business ban, large fine over Evergrande audit, sources say
China Evergrande's liquidators initiate legal action against PwC, FT reports
China Evergrande's EV arm units to enter bankruptcy, reorganization proceedings
Shares of China Evergrande New Energy Vehicle set to open up 9%
China Evergrande's ex-CEO sells Hong Kong home at almost half of purchase price