TOPIC

/ company

Country Garden Holdings

Country Garden Services is an estate-management company in mainland China, spun off from Chinese property developer Country Garden Holdings in 2018. The company provides services to residential and commercial properties, office buildings, industrial estates, government buildings, hospitals, schools and other public facilities. Country Garden Services is controlled by Yang Huiyan, the chairman of the former parent company and China's richest woman.

Chairman / President

Yeung Kwok Keung

CEO / Managing Director

Mo Bin

CFO / Finance Director

Wu Bijun

Industry

Property

Website

countrygarden.com.cn

Headquarters address

Country Garden Centre, No.1 Country Garden Road, Beijiao Town, Shunde District, Foshan, Guangdong, China

Stock Code

SEHK:2007

Year founded

1992

last updated:

30 September, 2024

A woman passed a Country Garden development in Tianjin, China. Photo: Reuters

China property

Troubled Chinese developer Country Garden’s loss for first half of 2024 narrows

Foshan-based developer also says revenue for first half of 2024 fell 55 per cent to 102 billion yuan.

1 hour ago

China property

Major Chinese developers see sales uptick in September bolstered by stimulus

16 Oct 2024 - 9:09AM

China property

Country Garden Services sells stake in a mall operator for US$447 million

25 Sep 2024 - 2:31PM

Accounting and auditing

Struggling Country Garden drops PwC amid turmoil in China property sector

Country Garden drops PwC as its auditor, in another setback for the firm that has lost more than 50 clients this year.

6 Sep 2024 - 12:25PM

China property

Bank of New York Mellon sues to liquidate Sino Ocean for unpaid debt

Sino-Ocean is joining a growing list of Chinese property developers facing liquidation lawsuits, after a nationwide deleveraging campaign begun in late 2020, sending home sales plunging and causing severe liquidity issues for these home builders.

28 Jun 2024 - 12:00PM

China property

Poly Property’s sales slump as Beijing’s rescue package brings mixed results

The Chinese state-backed developer saw sales fall by almost a fifth in May, adding to a mixed picture of the impact of Beijing’s historic measures to rescue its crisis-hit real estate segment.

6 Jun 2024 - 9:47PMvideocam

China property

Country Garden’s home sales jump as Beijing’s rescue package boosts developers

Country Garden sold more properties in May, becoming the second major Chinese developer to see turnover improve after Beijing launched a historic rescue package to shore up its battered real estate segment.

5 Jun 2024 - 9:35PMvideocam

The Foshan-based company that was once China’s top home builder by sales shifted 4.29 billion yuan (US$592 million) worth of properties last month, an 11.4 per cent monthly increase. Photo: Bloomberg

China property

Debt-laden China Vanke sells plot of land once earmarked for HQ at huge loss

China Vanke has sold a plot of land once earmarked for its new headquarters in Shenzhen for 2.24 billion yuan (US$309 million), almost 30 per cent less than it paid in 2017, as the beleaguered property developer strives to pay down its mountain of debt.

28 May 2024 - 1:19PMvideocam

China property

Embattled Shimao faces rare winding-up petition from Chinese state-owned bank

Troubled property developer Shimao Group Holdings is facing a liquidation suit brought by China Construction Bank, the country’s second-largest lender, for a financial obligation amounting to around HK$1.58 billion (US$201.8 million).

8 Apr 2024 - 12:23PMvideocam

China property

China’s new home sales slip again as liquidity crisis persists, buyers sidelined

Chinese developers suffered another dismal month in March as new home sales tumbled 46 per cent from a year earlier. It would be premature to expect a turnaround amid an ongoing liquidity crisis.

1 Apr 2024 - 4:30PMvideocam

Buildings under construction at the Inspiring Mansion residential project, developed by China Vanke in Shanghai on March 19, 2024. Photo: Bloomberg

China property

Developer Country Garden downplays hiring Kroll for liquidation analysis

Distressed Chinese property developer downplays the possibility of a liquidation after it hired the financial advisory firm to assess the amount of money creditors could recover in such an event.

27 Mar 2024 - 7:06PM

A photo taken on February 28, 2024, shows condominiums under construction in Beijing by Chinese property developer Country Garden Holdings. Photo: Kyodo

China property

PBOC head says China’s property crisis has abated as default rumours vex Vanke

Pan Gongsheng, governor of the People’s Bank of China, has attempted to dispel concerns over the country’s laggard property market in closed-door talks with executives and financiers.

26 Mar 2024 - 6:00PMvideocam

China property

Country Garden shares soar after sourcing cash to fund skyscraper completion

Embattled property developer Country Garden said it is injecting funds into an unfinished skyscraper project by introducing a new partner, an announcement which sent its shares soaring.

25 Mar 2024 - 4:10PM

Hong Kong stock market

Country Garden Services stock surges 18 per cent on buy-back plan

Stock in the property-management firm, which was until Wednesday the year’s worst performer on the Hang Seng Index, surged on news that the company will buy back up to 337.3 million shares.

2 Aug 2023 - 4:38PM

China property

Country Garden Services distances itself from ex-parent’s liquidity woes

Country Garden Services is pulling away from the liquidity woes surrounding its former parent Country Garden, saying it will not serve as a financing tool for China’s largest developer.

18 Jan 2022 - 2:44PMvideocam

Liquidity concerns at Country Garden, China’s largest developer, are mounting. Photo: Reuters

China property

Country Garden Services raises US$1 billion with eye on acquisitions

Country Garden’s property management unit is placing 173 million new shares at HK$45 each at a discount to market price to raise funds for future acquisitions.

11 Dec 2020 - 10:46PM