Country Garden facts for kids
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Entrance of Country Garden Hong Kong office
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Native name
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碧桂園控股有限公司
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| Public | |
| Traded as |
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| Industry | Real estate, education |
| Founded | 1992 |
| Founder | Yang Guoqiang |
| Headquarters |
Shunde, Guangdong
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China
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Area served
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China, Malaysia, Australia |
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Key people
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Chairman: Yang Huiyan(楊惠妍) Largest shareholder: Yang Huiyan |
| Products | Landed & high-rise residential, commercial, leisure and hospitality developments |
| Services | Property and facilities management, hotel management, schools |
| Revenue |  US$ 63,978.9 million (2023) |
| US$ -899.7 million (2023) |
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| Total assets | US$ 252,923.9 million (2023) |
| Total equity |  US$ 29,522.6 million (2023) |
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Number of employees
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69,932 (2023) |
| Subsidiaries | Country Garden Properties (Malaysia) Sdn. Bhd., Country Garden Danga Bay Sdn. Bhd. |
Country Garden (Chinese: 碧桂园; Mandarin Pinyin: Bìguìyuán; Jyutping: bik1 gwai3 jyun4) is a large company from Guangdong, China. It builds homes and other buildings. The company is owned by the family of Yang Guoqiang.
Country Garden is one of the biggest building companies in the world. They have built many large communities, called townships, in China, Malaysia, and Australia. Their main office is in Beijiao, China. In 2023, the company faced financial challenges and had trouble paying some of its debts.
Contents
Building a Company: Country Garden's History
Yang Guoqiang started Country Garden in 1992 in Shunde, Guangdong. He built the company from nothing. Before this, he worked as a farmer and on construction sites.
Over the years, Country Garden grew a lot. It now builds homes, manages properties, and even runs hotels.
In 2005, Yang Guoqiang gave his shares in the company to his daughter, Yang Huiyan. In 2007, Country Garden became a public company. This means its shares could be bought and sold on the Hong Kong Stock Exchange. Later that year, Yang Huiyan was named the richest woman in Asia by Forbes magazine.
By 2014, Country Garden was the sixth largest property developer in China based on how much they sold. In 2015, a big Chinese insurance company, Ping An Insurance, bought a large part of Country Garden.
In 2020, during the COVID-19 pandemic, a part of Country Garden in Sydney, Australia, helped by sending a lot of supplies to Wuhan, China.
In 2023, Country Garden faced money problems, like some other building companies in China. They had trouble paying some of their debts.
Who Manages Country Garden?
Yang Guoqiang was the main leader of Country Garden since he started it.
In February 2023, Yang Guoqiang decided to step down as the head of the company because of his age. His daughter, Yang Huiyan, who owns the most shares, took over as the new chairman. Yang Guoqiang still works as a special advisor for the company.
How Country Garden Builds: Their Business Strategy
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Country Garden mainly builds homes in smaller cities across mainland China.
Building Projects Quickly
Country Garden uses a fast way to build and sell homes. They call it the "456" model. This means they try to:
- Finish a project within four months from buying the land to starting sales.
- Collect payments from buyers within five months.
- Get back all their money spent on the project within six months.
This makes them one of the fastest builders in China.
Sharing Success with Employees
Country Garden has a special plan to share profits with its employees. If a project does well, the managers get a part of the profit. But if a project loses money, the managers also share some of the loss. This plan helps to motivate employees to work hard and sell more homes.
Investing Together: Concentric Sharing
In 2014, Country Garden started a plan called "Concentric Sharing." This plan asks the company's top leaders to invest their own money in projects. This means that everyone involved, from directors to project managers, invests together in the project.
Big Projects Around the World
Country Garden Danga Bay, Malaysia
Country Garden's first project outside China was Country Garden Danga Bay in Johor Bahru, Malaysia. This big project sold a lot of homes very quickly when it first opened.
Forest City, Malaysia
Forest City was planned as a huge community built on new land near Singapore.
This project is a partnership between Country Garden and a Malaysian government company. Country Garden owns 60 percent of the project.
Forest City faced some challenges, including concerns about the environment and politics. After some changes in the Malaysian government and the COVID-19 pandemic, sales and construction slowed down. In 2023, a report said that only about 9,000 people lived in Forest City, even though it was designed for 700,000. This shows that many of the buildings are empty.
Risland Australia
Risland Australia is Country Garden's company in Sydney, Australia. One of their projects, Ryde Garden, sold many apartments very quickly in 2014.
In 2023, after Country Garden had financial problems, this unfinished project was sold to another company.
Financial Challenges (2020-2023)
Country Garden has faced rumors about its financial health since 2020. The value of its shares has dropped a lot.
In August 2023, Country Garden missed some payments on its debts. They had a 30-day grace period to make these payments.
On August 10, 2023, Country Garden announced that they expected to lose a lot of money in the first half of 2023. This news caused their share price to fall even more. The company then hired financial experts to help them manage their debts.
In October 2023, the company failed to make a payment of US$15 million. This caused other debts to also become due, totaling up to US$11 billion.
See also
- Real estate in China
- Evergrande Group
