Core Viewpoint - The potential buyers for Evergrande Property have emerged, with interest from TPG Capital and Guangdong Tourism Holdings, as the liquidation process for China Evergrande progresses [3][15][17]. Group 1: Potential Buyers - TPG Capital and Guangdong Tourism Holdings have engaged with the liquidators of China Evergrande regarding the acquisition of Evergrande Property's shares [3][15]. - CITIC Capital's subsidiary, Xincheng Capital, is also rumored to be a potential bidder for Evergrande Property [3][16]. - TPG Capital manages over $55 billion in assets and has a history of significant investments in the real estate sector, including multiple rounds of investment in Zhuhai Wanda Commercial Management [8][20]. Group 2: Due Diligence and Offers - The liquidators have initiated due diligence with selected bidders and have requested updated proposals by the end of January [4][6]. - The liquidators have stated that they will not consider any new non-binding offers, indicating satisfaction with the current proposals [6][23]. - As of January 2026, the liquidators have not disclosed the number of bidders or their respective offers for Evergrande Property [11][23]. Group 3: Financial Performance - Evergrande Property reported revenues of approximately 6.647 billion yuan for the first half of 2025, a year-on-year increase of 6.9%, with a net profit of about 472 million yuan, a decrease of 6% [9][22]. - Guangdong Tourism Holdings, while a major player in the tourism sector, has a smaller scale in property management, with 2024 revenues of approximately 12.229 million yuan and a net profit of 779,700 yuan [9][22]. - As of September 2025, Guangdong Tourism Holdings had total assets of about 14.7 billion yuan and cash equivalents of approximately 2.03 billion yuan [9][22].
恒大物业竞购升温：两个买家浮出水面