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Evergrande Real Estate Group



Total Raised


Date of IPO


About Evergrande Real Estate Group

Provider of real estate development services in Mainland China. The company offers real estate development, architectural planning and design, construction, construction supervision, and property management services. It focuses on provincial capitals or municipalities, including Guangzhou, Tianjin, Chongqing, Shenyang, Chengdu, Wuhan, Nanjing, Xi’an, Changsha, Taiyuan, and Kunming.

Headquarters Location

Tianlun Mansion 45 Tianhe Road

Guangzhou, Guangdong, 510060,


86 20 38302222

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Latest Evergrande Real Estate Group News

China Evergrande CEO and CFO resign after probe into diverted loans

Jul 24, 2022

LewisTsePuiLung China Evergrande Group's ( OTCPK:EGRNF ) ( OTCPK:EGRNY ) CEO and chief financial officer have resigned from the debt-laden property developer after preliminary results of an investigation found the two were involved in diverting loans meant for its Hong Kong-listed Evergrande Property Services unit to the parent company and used for general operations. The company's review of its financial report for the year ended Dec. 31, 2021 found that deposits of ~RMB 13.4B ($1.98B) used as security for third partly pledge guarantees had been enforced by relevant banks. Evergrande ( OTCPK:EGRNF ) is now in talks with Evergrande Property Services focusing on the repayment of sums related to the pledges, the company said in a regulatory filing on Friday. "In light of the above preliminary findings of the independent investigation, the company will consider appointing an internal control consultant to conduct a comprehensive review of the internal control and risk management systems of the company," Evergrande ( OTCPK:EGRNF ) Chairman Hui Ka Yan said in the statement. After the preliminary results, Xia Haijun resigned as director and CEO and Pan Darong resigned as executive director and CFO, due to their involvement in the arrangement. With the two stepping down, Liu Zhen, currently vice president of Evergrande ( OTCPK:EGRNF ) has been named executive director. He has served in positions including chairman of Xinjiang company of Evergrande Real Estate Group and vice president of China Evergrande New Energy Vehicle Group ( OTC:EVGRF ). Qian Cheng, also currently a vice president of the company, was named chief financial officer. He joined the company in July 2018 and has served in various financial management positions, the company said. The company, saddled by ~$310B in debt, has been struggling with a liquidity crunch since last fall as Beijing took a stricter stance on property development due to Evergrande's ( OTCPK:EGRNF ) large liabilities and worries of a housing bubble. Last week, the Wall Street Journal reported that China Evergrande ( OTCPK:EGRNF ) management was eager to release some details of a preliminary restructuring plan later this month, while creditors were urging the company wait until they could nail down some terms. In May, China Evergrande ( OTCPK:EGRNF ), which has defaulted on some of its $19B on in offshore bonds, was reportedly considering a plan to pay back offshore bondholders with cash installments and equity in two of its Hong Kong-listed units. Recommended For You

Evergrande Real Estate Group Frequently Asked Questions (FAQ)

  • Where is Evergrande Real Estate Group's headquarters?

    Evergrande Real Estate Group's headquarters is located at Tianlun Mansion, Guangzhou.

  • What is Evergrande Real Estate Group's latest funding round?

    Evergrande Real Estate Group's latest funding round is IPO.

  • How much did Evergrande Real Estate Group raise?

    Evergrande Real Estate Group raised a total of $906M.

  • Who are the investors of Evergrande Real Estate Group?

    Investors of Evergrande Real Estate Group include Merrill, DB Private Equity, CarVal, Abu Dhabi Investment House and Temasek.

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