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Formerly | China Aoyuan Property Group |
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Type | public |
SEHK: 3883 | |
Industry | Real estate |
Founded | 1996 |
Founder | Mr. Guo Ziwen |
Headquarters | Grand Cayman, Cayman Islands (registered office) Guangzhou, China (de facto) |
Area served | People's Republic of China |
Key people | Chairman: Mr. Guo Ziwen |
Website | www |
China Aoyuan Group Limited or Aoyuan is a property developer headquartered in Guangzhou, Guangdong, China. It is engaged in property development, leasing, and hotel operations in Mainland China. It develops real estate properties in Chongqing, Shenyang, Yulin, Jiangxi, Qingyuan, and Guangzhou. [1] [2]
Aoyuan's major shareholder, "Ace Rise Profits Limited", was incorporated in the British Virgin Islands.
On January 21, 2022, Fitch Ratings downgraded China Aoyuan Group Ltd. to ‘Restricted Default’ after their announcement that it won’t make payments on a set of dollar bonds. [3]
On December 20, 2023, the China Aoyuan Group declared Chapter 15 bankruptcy. [4]
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The 2020–2023 Chinese property sector crisis is a current financial crisis sparked by the difficulties of Evergrande Group and other Chinese property developers in the wake of new Chinese regulations on these companies' debt limits. The crisis spread beyond Evergrande in 2021 to such major property developers as Country Garden, Kaisa Group, Fantasia Holdings, Sunac, Sinic Holdings, and Modern Land.
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