Evergrande is a risky play based on debt-fueled growth.
China Evergrande Group released a positive profit alert indicating a substantial increase in earnings for 2017. In particular, it expects profit attributable to shareholders to be 4-5 times that of a year ago, and net profit from the core business is expected to be 2 times that of last year. Operationally, the company certainly scaled up in 2017. Contract sales were up 34% year on year, and we expect revenue to be up 70% from a year ago. Excluding one-off disposal gains, we believe Evergrande’s ...China Evergrande Group is an investment holding company. Through its subsidiaries, Co. is engaged in property development, property investment, property management, property construction and other property development related services in the People's Republic of China (which include resort complexes with hotels, sports arenas, and other tourist-related activities). Co.'s operations are organized along four business segments: property development, property investment, property management and other businesses. Co.'s other businesses include property construction and other property development related services.
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