Capital, Earnings & M&A
The Barbarian at the Gate of Grain and Oil: How Evergrande Plays the Turbulent Grain and Oil Industry?
COFCO Chairman Ning Gaoning suddenly finds his new competitor is not from the traditional grain and oil industry, nor an internet giant fond of cross-industry moves, but a Chinese real estate developer. On August 28, 2014, Evergrande Real Estate Chairman Xu Jiayin announced the official launch of Evergrande Grain and Oil, causing an uproar in the industry. That day, Evergrande signed contracts with grain and oil distributors totaling 11.9 billion yuan in sales. Overnight, the traditional grain and oil supply model was transformed by Evergrande into a 'forward housing' style supply, making grain a product that can be pre-ordered.
阚世华