| Greenland Holdings | |
| Trade Name: | Greenland Group |
| Type: | public |
| Founded: | 1992 |
| Hq Location City: | Shanghai |
| Hq Location Country: | China |
| Area Served: | Mainland China |
| Key People: | Zhang Yuliang |
| Industry: | real estate, property development, construction, property investment, real estate financing |
| Products: | apartments, infrastructure, real estate property, financial loans |
| Revenue Year: | 2016 |
| Income Year: | 2016 |
| Net Income Year: | 2016 |
| Assets Year: | 2016 |
| Equity Year: | 2016 |
| Footnotes: | in consolidated financial statement[1] |
Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese real estate developer. It was founded as a state-owned enterprise., the top 10 shareholders of the listed company owned a combined 88% shares, with some state-owned enterprises having invested in Greenland via private equity funds.
, it owned about US$58 billion in assets.[2] By the company's own estimate, in 2014 it was the largest real estate developer in the world by floor space under construction and sales revenue.[3]
Greenland Holdings was created in 1992 to develop green belts around Shanghai.[4] Starting around 2013, it began to make major investments in developments outside of China., these include Metropolis Los Angeles in Los Angeles, Spire London, a 235-metre residential skyscraper in the London Docklands,[5] Greenland Centre Sydney in Sydney, Atlantic Yards in New York,[6] and an 872 unit condo plus 122 room hotel complex in Toronto.[7]
In 2014 the company took over Shanghai Jinfeng Investment as part of a backdoor listing.[8] [9] Since June 2017, it has been part of Shanghai Stock Exchange's blue chip index: SSE 50 Index.[10]
In July 2023, the company defaulted on a $432 million dollar bond.[11]
Greenland Group are the current majority shareholder of the Chinese Super League club Shanghai Shenhua F.C., having officially taken over the operation of the club after purchasing the 28.5% share owned by previous majority shareholder Zhu Jun in January 2014.[12]
Despite 46.37% of the company being owned by the Shanghai Government, some members of the board, current, and former employees also own 28.99% of shares as the second largest shareholder. Both Greenland Holdings and the employee-owned private equity fund are represented by Zhang Yuliang as the legal representative.
The 15-person board of directors consists of 5 independent directors, as well as Zhang Yuliang, Tan Jiancheng, vice-chairman of Greenland Holdings and vice-president of Shanghai Municipal Investment Group), Cai Shunming, vice-chairman of Greenland Holdings and vice-president of Shanghai Land Group), Xu Jing, executive vice-president), Zhang Yun, executive vice-president), Tian Bo, ex-vice president of Greenland Holdings), Ji Guanglin, Greenland Holdings director and chairman of associate company Shanghai SMI Holding, a subsidiary of Shanghai Municipal Investment Group), He Qiju (Greenland Holdings director and a manager of Shanghai Land Group), Zhou Qing (Greenland Holdings director and deputy general manager of associate company Shanghai Star Group, a subsidiary of Shanghai Land Group) and Song Chengli, Greenland Holdings director and vice-chairman of Ping An Trust). To sum up, out of 10 non-independent directors, the Shanghai Government has 5 seats, while Ping An Trust has one seat.