Evergrande diversifies business with move into agriculture

Evergrande Group, a Guangzhou-based real estate company, launched a series of grain products on Thursday to boost its business portfolios to sustain future development. [Photo by Qiu Quanlin/chinadaily.com.cn]

Guangzhou-based real estate company Evergrande Group, launched a series of agricultural products on Thursday to boost its business portfolios to sustain future development.

The grain and oil products were launched a day after the group-owned soccer club failed to advance into the semifinals of the AFC Champions League.

Defending Asian champions Guangzhou Evergrande lost 2-2 on aggregate on the away goals rule to the Western Sydney Wanderers.

But the group's grain and oil brand was first unveiled on players' shirts at the Tianhe Stadium, on Wednesday night, bringing attention to the company's goal to diversify its industries.

"We are doing the agricultural business in a way similar to what we have done in the soccer industry. We will make it a household name and competitive brand," said Liu Yongzhuo, vice-president of Evergrande.

Evergrande has now developed into a group engaged in property, culture, tourism, consumer goods, agriculture, and sports industries, with assets exceeding 420 billion yuan ($68.4 billion), according to Liu.

"We are soon to launch dairy and husbandry products," he said.

Evergrande has invested about 7 billion yuan to acquire 22 production bases in the grain and oil, dairy, and husbandry industries.

The group has mapped out an ecological circle around the Greater Hinggan Mountains to ensure agricultural, dairy and husbandry products are green and safe for consumers.

The group launched its first consumer product – bottled water – in November last year, representing its efforts to broaden its business activities.

Sales of the bottled water are expected to exceed 10 billion yuan in 2014.

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