The second-largest property developer in China, China Evergrande is a Fortune 500 company with revenue last year of $46 billion and profit of $11 billion. Founded in 1996 by Xu Jiayin (Hui Ka Yan) in the southern city of Guangzhou, the company began life as Hengda Group and primarily operates in property development, property investment, property management and other businesses including construction, insurance and hotels. Listed on the Hong Kong Stock Exchange after its initial public offering raised $722 million in 2009, it has a current market capitalisation of approximately $38 billion, with major projects in over 280 cities worldwide, though predominantly in China. The company has over 140,000 staff and, according to its own website, creates around 2.6 million jobs each year. Since a strategic transformation in 2017, Evergrande has expanded, with a focus on quality growth. Core net profit jumped by 93.3 per cent year on year in 2018, and gross profit jumped by 50.5 per cent. Aside from major property and construction developments, the group also has interests in tourism, with plans to build Evergrande Fairyland and Evergrande Water World – its contributions to cultural tourism for the Chinese people. The company’s other major under-construction project is Ocean Flower Island, an artificial archipelago off the north coast island of Hainan. The project is said to have received investment worth $24 billion and is scheduled for completion in 2020.
- Family name: Hui family
- Sector: Diversified Industrial Product
- Founded: 1996
- Founder: Xu Jiayin (Hui Ka Yan)
- Country: China
- Company headquarters: China
- Revenue: 20.5
- Employees: 83,372
- Website: evergrande.com
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