China Evergrande Group
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China Evergrande Group

(恒大集团)

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China Evergrande Group
China Evergrande Group
恒大集团
News and analysis about China Evergrande Group, one of the country's biggest property developers by sales volume. Coverage includes Evergrande's real estate projects in mainland China and Hong Kong, as well as its forays into so-called new energy vehicles (NEVs), and its stake in the football club Guangzhou FC, known as the Guangzhou Evergrande Football Club until 2021.
Chairman / President
Yu Fachang
CEO / Managing Director
Lin Chun
CFO / Finance Director
Wong Chun Sek
Industry
Property
Website
ebchina.com
Headquarters Address
China Everbright Center, 25 Taipingqiao Avenue, Xicheng District, Beijing, China
Stock Code
SSE: 601818
SSE: 360013
SEHK: 6818
Year Founded
1990
Under new rules, individuals who sell a residential property within two years of buying it will pay VAT at 3 per cent instead of 5 per cent. Photo: Getty
China property

Beijing trims property resale tax in fresh push to stabilise housing market

Under new rules, sellers will pay just 3 per cent VAT if they offload a property within two years of purchase, down from 5 per cent.

China consumption

China vows city-specific fixes to clear housing glut, stabilise property sector

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China property

China Vanke wins bondholders’ reprieve, averts default for now

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China property

China Vanke’s managers have no plans to sell shares as firm fights for survival

Vanke, responding to queries from investors, says top managers have not notified it about their intentions so far.

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Vanke said it had completed 19 bulk asset transactions in the first three quarters of this year totalling 6.86 billion yuan. Photo: Reuters
China property

Vanke’s bondholders reject payment extension, raising default risk

The rejection in a three-day vote that ended late on Friday gives the developer a grace period of five business days to pay 2 billion yuan of onshore bond.

Banking & finance

Hong Kong launches HKEX Tech 100 Index in pivot towards innovation-driven growth

Unveiling of benchmark tracking Hong Kong-listed tech firms comes amid a wave of property stock delistings.

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China property

UBS predicts 2.4 million China property foreclosures as loan defaults rise

Apartments seized from small businesses could reach more than 2.4 million by 2027, according to UBS’ John Lam.

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Fog surrounds skyscrapers and residential buildings in Beijing, creating a unique landscape. Photo: VCG/VCG via Getty Images
China property

As I see it | China’s extended property slump was always expected

History has shown that when real estate bubbles burst, the economic damage is usually severe and prolonged.

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China property

China Vanke hit with fresh S&P downgrade amid mounting default concerns

Once a bellwether for China’s property sector, China Vanke now faces a CCC- rating, negative CreditWatch and a tight refinancing window.

Hong Kong

Joy City’s Hong Kong exit throws mainland China’s property strains into relief

Cofco’s Joy City Property is quitting the Hong Kong bourse after 12 years, joining the wave of mainland developers that have already exited.

After 12 years, Joy City Property is delisting from the Hong Kong bourse. Photo: Jelly Tse
China property

UBS’ China property optimist retreats from bullish calls, foresees deeper slump

Home prices in mainland China are expected to fall for at least another two years as more people prefer renting over buying, John Lam says.

Unfinished buildings in Beijing. Most global banks have dim outlooks for China’s real estate sector, which has been experiencing a renewed sales slump since the second quarter. Photo: EPA
China property

Evergrande’s iconic Canadian hotel to be sold after default

Fairmont Le Chateau Montebello has hosted luminaries including Grace Kelly and Margaret Thatcher.

China property

Evergrande liquidators set month-end deadline for bids on property services unit

Liquidators caution that the sale of Evergrande Property Services is at a preliminary stage and many of the details have yet to be finalised.

China property

Chinese developer’s property management arm hit by share seizure in Hong Kong

More than 72 per cent of Redsun Services Group’s shares are seized as Chinese developer’s debt woes deepen after defaulting on a pledge.

The seizure has “no significant impact” on the business operation, financial conditions and solvency of the company, according to Redsun Services Group. Photo: Handout
China's economic recovery

China’s micro-drama craze turns idle real estate projects into lavish film sets

The fast-growing entertainment sector brings life to vacant buildings, but industry insiders say the broader impact remains limited.

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Actors rehearse on the set of a micro-drama during a filming session at a hospital, in Zhengzhou, Henan province on July 17, 2024. Photo: Reuters
China property

US advisory firm Alvarez & Marsal plans major expansion in China

A&M’s core businesses in China have rapidly expanded in response to rising demand from local corporations, the firm says.

China property

Hong Kong court names Evergrande’s liquidators as receivers of founder’s assets

‘There is a total failure on the part of Hui to comply with the disclosure order,’ writes Justice Herbert Au-yeung Ho-wing.

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China property

China’s property sector shows fragile signs of stabilisation amid ongoing challenges

August figures continued their month-on-month decline, though the sluggish sector’s year-on-year numbers narrowed marginally.

FILE PHOTO: Men work at the construction site of an apartment building in Beijing, China, July 29, 2023. REUTERS/Thomas Peter/File Photo
Hong Kong

Evergrande eyes sale of stake in US$1.3 billion property services unit

Evergrande liquidators explore sale as soon as November after receiving non-binding offers.

Hong Kong stock market

Hong Kong stocks gain the most in 2 weeks after Fed’s Powell hints at rate cut

Mainland developers Longfor, Vanke and China Resources Land jump after Shanghai eases property-buying rules.

Evergrande crisis

Editorial | Evergrande delisting brings painful economic chapter to a close

The move comes at the right time as the Hong Kong stock exchange must maintain the integrity of listed companies and its own credibility.

An unfinished residential compound developed by China Evergrande Group is seen on the outskirts of Shijiazhuang, Hebei province, on February 1, 2024. Photo: Reuters
China economy

China retail slowdown, Trump-Putin summit, Wang Yi visits India

This week: Weak retail sales stoke China economy concerns; Trump and Putin prepare for Alaska talks; US and China extend tariff truce by three months. Next week: Wang Yi visits India and Pakistan; Xiaomi posts earnings; Ronaldo may play in Hong Kong, and more.

Photo: Xinhua
China property

China’s home prices slide as support measures fail to budge sentiment

Drop in new home prices across 70 major cities matches the previous month, which was the sharpest decline since October.

China property

Hong Kong developer Road King defaults on debt payments

Listed firm suspends nearly US$80 million in interest payments and distributions while seeking restructuring discussions with creditors.

SCMP Highlights

Chinese families in ‘broken houses’; PLA’s warning: SCMP daily highlights

From China sanctioning two European banks to a Chinese-owned aircraft detained in Russia, here’s a round-up from today’s coverage.

A file picture of the guided-missile destroyer USS Higgins, which has entered the South China Sea, according to the PLA Southern Theatre Command. Photo: Getty Images
China property

4 years after Evergrande crash, Chinese families still stuck in ‘broken houses’

China’s faltering property sector continues to be a drag on consumption, with much of middle class wealth stored in homes that have not regained value.

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Four years after China’s premier real estate developer fell into a debt crisis, the country’s homeowners are still unsure when housing prices will hit bottom. Photo: AFP
Evergrande crisis

Liquidators hire UBS and Citic to sell Evergrande’s property services unit

Court-appointed liquidators are working with UBS Group and Citic Securities to seek potential buyers for the subsidiary, Evergrande Property Services Group.

China property

Evergrande delists from HKEX in milestone for China’s property crisis

The delisting of other struggling Chinese property developers might follow, according to Kaiyuan Capital’s Brock Silvers.

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