|Traded as||SEHK: 3333|
|Founder||Xu Jiayin (Hui Ka Yan)|
|Headquarters||Shenzhen, Guangdong, China|
|Xu Jiayin (Chairman)|
|Subsidiaries||Hengda Real Estate|
The Evergrande Group or the Evergrande Real Estate Group (previously Hengda Group) is China's second-largest property developer by sales. It is based in southern China's Guangdong Province, and sells apartments mostly to upper and middle-income dwellers. As of 2018, it is the world's most valuable real estate company.
In 2017, Evergrande experienced a surge in its stocks, share price, profits and revenue, rising almost three to four folds. The positive outlook and results of the company propelled Hui Ka Yan to one of China's richest men, as well as one of the wealthiest people in Asia.
The group bought football club Guangzhou Evergrande F.C. in 2010 and invested heavily, and under Marcello Lippi they won the 2013 AFC Champions League. The group has a mineral water brand Evergrande Spring (恒大冰泉) and a football tutoring school.
In recent years Chinese property developers like Evergrande and Dalian Wanda have made forays into "alternative, income-generating businesses away from the property market". For example, Evergrande has expanded into solar panels, pig farming, agribusiness, and baby formula.
The firm now has projects in over 170 cities in the country. It is one of the ten largest real estate developers in Mainland China, and one of the five largest real estate developers in Guangdong Province, the other four being Country Garden, Guangzhou R&F Properties, Hopson Development, and Agile Property.
It currently owns 45.8 million square metres of development land and real estate projects in 22 cities (Guangzhou, Tianjin, Shenyang, Wuhan, Kunming, Chengdu, Chongqing, Nanjing, Zhengzhou, Luoyang, Changsha, Nanning, Xian, Taiyuan, Guiyang, etc.) in Mainland China, which ranks second among the Mainland real estate developers, just after Country Garden.
As of 2016, owner Xu Jiayin was the eighth richest Chinese man, worth $4.9 billion.
Evergrande Health, a listed subsidiary of Evergrande Group, is now the largest shareholder of Faraday future after acquiring a 45 percent stake in the automotive company for a total of $2 billion.
The Securities and Futures Commission of Hong Kong (SFC) suspended an American investor Andrew Left of Citron Research, who criticized the company, for "finding him culpable of disclosing false or misleading information inducing transactions under the Securities and Futures Ordinance (SFO) in the publication of a research report on Evergrande Real Estate Group Limited (Evergrande) in June 2012." The SFC ban "has raised concerns over freedom of speech in Hong Kong’s financial markets."
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- . Fortune Evergrande Group http://fortune.com/global500/china-evergrande-group/title=China Evergrande Group Check
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- , Zeenews
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- "Faraday Future reveals the source of its $2 billion investment as a co-founder steps away". The Verge. Retrieved 2018-06-26.
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