Evergreen Holding Group
| Company type | Private |
|---|---|
| Industry | Conglomerate (Shipbuilding, Potash extraction) |
| Founded | 2003 |
| Founder | Liang Xiaolei |
| Headquarters | Ningbo , China |
| Products | Ships, Potash |
Evergreen Holding Group () is a privately owned Chinese conglomerate specializing in shipbuilding and potash extraction. The company holds control over MagIndustries, a Canadian potash producer that possesses the Mengou project license in the Republic of Congo, recognized as one of the largest undeveloped potash deposits globally.
Established in 2003 by Liang Xiaolei, Evergreen expanded its operations by acquiring Zhejiang Shipyard located in Ningbo and the closed Jiangyang Shipyard in Yangzhou. Its shipbuilding sector experienced significant growth, achieving a position among the world's top 50 shipbuilders by order volume in 2007. Despite this success, the following decade brought financial challenges, including a loan default in December 2015, a 400 million RMB bond default in 2016, and bankruptcy proceedings for two of its shipyards during the same year.
The bond default in 2016 sparked investor apprehension regarding the firm’s disclosure practices. Bondholders disclosed that they learned of an anti-corruption probe into MagIndustries’ Canadian operations only several months after it began. Although MagIndustries had posted details about the investigation on its website, this information was not adequately communicated to investors.