Evergrande
恒大地产
Real Estate & ConglomeratesGuangzhou · South (Guangdong · Hong Kong · Hainan)
Business focus
Real Estate & Conglomerates
Description
China Evergrande Group (中国恒大, formerly 恒大地产) was founded in Guangzhou in 1996 by Xu Jiayin (Hui Ka Yan) and once ranked as China's largest developer by sales, listed on HKEX from 2009. It defaulted on offshore debt in December 2021 amid over $300 billion in total liabilities, becoming the epicenter of China's property crisis. A Hong Kong court ordered its liquidation in January 2024, and it was delisted from HKEX in August 2024. Xu has been under investigation and residential surveillance since 2023; liquidators are now disposing of assets.