Greenland Holdings Corp., Ltd. known as Greenland Group is a Chinese

real estate developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. R ...

. It was founded as a

state-owned enterprise A state-owned enterprise (SOE) is a Government, government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn Profit (econom ...

. , 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

asset In financial accountancy, financial accounting, an asset is any resource owned or controlled by a business or an economic entity. It is anything (tangible or intangible) that can be used to produce positive economic value. Assets represent value ...

s. 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 In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business. Commercial revenue may also be referred to as sales or as turnover. Some companies receive reven ...

History

Greenland Holdings was created in 1992 to develop

green belt A green belt is a policy and land-use zone designation used in land-use planning to retain areas of largely undeveloped, wild, or agricultural land surrounding or neighboring urban areas. Similar concepts are greenways or green wedges, which hav ...

s around

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...

. Starting around 2013, it began to make major investments in developments outside of China. , these include Metropolis Los Angeles in

Los Angeles Los Angeles ( ; es, Los Ángeles, link=no , ), often referred to by its initials L.A., is the largest city in the state of California and the second most populous city in the United States after New York City, as well as one of the world' ...

Spire London Spire London, previously known as Hertsmere House, is a construction project located in West India Quay, near Canary Wharf. Developed by Greenland Group and designed by HOK, construction on the tallest building of 67 stories commenced in 2016, ...

, a 235-metre residential skyscraper in the

London Docklands London Docklands is the riverfront and former docks in London. It is located in inner east and southeast London, in the boroughs of London Borough of Southwark, Southwark, London Borough of Tower Hamlets, Tower Hamlets, London Borough of ...

Greenland Centre Sydney The Greenland Centre is a residential skyscraper in Sydney, New South Wales, Australia, located on the corner of Bathurst and Pitt Street. At a height of , it is the tallest residential building in Sydney. Construction The project was dev ...

Sydney Sydney ( ) is the capital city of the state of New South Wales, and the most populous city in both Australia and Oceania. Located on Australia's east coast, the metropolis surrounds Sydney Harbour and extends about towards the Blue Mountain ...

Atlantic Yards Pacific Park is a mixed-use commercial and residential development project by Forest City Ratner that will consist of 17 high-rise buildings, under construction in Prospect Heights, adjacent to Downtown Brooklyn, Park Slope, and Fort Greene in ...

in New York, and an 872 unit condo plus 122 room hotel complex in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the ancho ...

. In 2014 the company took over Shanghai Jinfeng Investment () as part of a backdoor listing. Since June 2017, it has been part of

Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Exc ...

's blue chip index:

SSE 50 Index SSE 50 Index is the stock index of Shanghai Stock Exchange The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others ...

Non-real estate interests

Greenland Group are the current majority

shareholder A shareholder (in the United States often referred to as stockholder) of a corporation is an individual or legal entity (such as another corporation, a body politic, a trust or partnership) that is registered by the corporation as the legal own ...

of the

Chinese Super League The Chinese Football Association Super League, commonly known as Chinese Super League or CSL, currently known as the China Ping An Chinese Football Association Super League for sponsorship reasons, is the highest tier of professional football in ...

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.

Shareholders and board of directors

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 A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organiz ...

consists of 5

independent director An independent director (also sometimes known as an outside director) is a member of a board of directors who does not have a material or pecuniary relationship with company or related persons, except sitting fees. In the United States, indepe ...

s, 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 Shanghai Municipal Investment (Group) Corporation also known as Shanghai Chengtou () or SMI is a Chinese sovereign wealth fund of the Shanghai Municipal People's Government. It is one of the major shareholders of Greenland Holdings (for 20.55% s ...

), 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. *'s State-owned Assets Supervision and Administration Commission ** Shanghai Land Group (25.82%) **

(20.55%) * Management board and employee of Greenland Holdings via a private equity fund (, 28.99%) * Shenzhen Ping'an Innovation Capital Investment (), a subsidiary of Ping An Trust of Ping An Group (6.61%) * Shanghai Tianchen (2.29%) * , a private equity fund that

CDH Investments CDH Investments (CDH, 鼎晖投资基金管理公司) is a major Chinese alternative asset management firm based in Beijing, China. It specializes in private equity, venture capital and credit products. CDH invests across a range of sectors and re ...

acted as GP (1.80%) * , a private equity fund that SDIC acted as GP (0.91%) * , an index tracking fund that

ICBC Industrial and Commercial Bank of China Limited (ICBC; ) is a Chinese multinational bank. Founded as a limited company on 1 January 1984, ICBC is a state-owned commercial bank. With capital provided by the Ministry of Finance of China, the b ...

acted as GP (0.34%) * , a private equity fund from

Zhuhai Zhuhai (, ; Yale: ''Jyūhói''), also known as Chuhai is a prefecture-level city located on the west bank of Pearl River estuary on the central coast of southern Guangdong province, People's Republic of China, on the southeastern edge of Pearl ...

(0.33%)

References

External links

* {{Official website Real estate companies of China Companies based in Shanghai Real estate companies established in 1992 Companies listed on the Shanghai Stock Exchange Companies in the CSI 100 Index Companies owned by the provincial government of China Employee-owned companies of China Privatization in China