Evergrande is a Chinese real estate company that was founded in 1996. It is one of the largest real estate developers in China and is listed on the Hong Kong Stock Exchange. Evergrande is known for its extensive land acquisitions and ambitious development projects.
In recent years, Evergrande has expanded beyond real estate, entering industries such as healthcare, electric vehicles, and football (soccer) through ownership of a professional football club.
However, Evergrande has seen a decline in its financial performance and has been facing liquidity issues. This has raised concerns about its ability to service its debts, which are estimated to be around $300 billion. The company's situation has also impacted the Chinese economy and global markets.
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