Evergrande Group
Guangzhou Evergrande Center | |
| Company type | Public |
|---|---|
| SEHK: 3333 OTC Pink: EGRNQ | |
| Industry | Real estate |
| Founded | 1996 |
| Founder | Hui Ka Yan (Xu Jiayin) |
| Headquarters | , China |
Area served | Mainland China |
Key people | Hui Ka Yan (Chairman) |
| Revenue | CN¥507.250 billion (US$77.713 billion, 2020) |
| CN¥63.520 billion (US$9.732 billion, 2020) | |
| CN¥8.076 billion (US$1.238 billion, 2020) | |
| Total assets | CN¥2,301 trillion (US$306.410 billion, 2020) |
| Total equity | CN¥350.431 billion (US$53.687 billion, 2020) |
Number of employees | 123,276 (31 December 2020) |
| Subsidiaries | Hengda Real Estate Evergrande New Energy Auto |
| Website | www |
| China Evergrande Group | |||||||||||||||||
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| Simplified Chinese | 中国恒大集团 | ||||||||||||||||
| Traditional Chinese | 中國恆大集團 | ||||||||||||||||
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The China Evergrande Group was a Chinese property developer, and it was the second largest in China by sales. It was founded in 1996 by Hui Ka Yan (Xu Jiayin). It sold apartments mostly to upper- and middle-income dwellers. Evergrande was incorporated in the Cayman Islands, a British Overseas Territory, and headquartered in the Houhai Financial Center in Nanshan District, Shenzhen, Guangdong Province, China.
In 2018, Evergrande became the most valuable real estate company in the world, but by 2021 it had collapsed financially and started the Chinese property sector crisis. The company eventually filed for bankruptcy in the United States in 2023, which was followed by a court-ordered liquidation in Hong Kong in January 2024.