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Evergrande Group
Chinese property development company / From Wikipedia, the free encyclopedia
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The China Evergrande Group was a Chinese property developer, and it was the second largest in China by sales.[3] It was founded in 1996 by Hui Ka Yan (Xu Jiayin). It sold apartments mostly to upper- and middle-income dwellers.[4]
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![]() Guangzhou Evergrande Center | |
Company type | Public |
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SEHK: 3333 OTC Pink: EGRNQ | |
Industry | Real estate |
Founded | 1996; 28 years ago (1996) |
Founder | Hui Ka Yan (Xu Jiayin) |
Headquarters | , China |
Area served | Mainland China |
Key people | Hui Ka Yan (Chairman) |
Revenue | ![]() (US$77.713 billion, 2020) |
![]() (US$9.732 billion, 2020) | |
![]() (US$1.238 billion, 2020) | |
Total assets | ![]() (US$306.410 billion, 2020) |
Total equity | ![]() (US$53.687 billion, 2020) |
Number of employees | 123,276[2] (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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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.[5]
In 2018, Evergrande became the most valuable real estate company in the world,[6] 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,[7] which was followed by a court-ordered liquidation in Hong Kong in January 2024.[8]