Evergrande was one of China's largest real estate companies, with up to 1,300 projects in 280 cities.
When the company fell into acute crisis in 2021 and was liquidated a few years later, it became a symbol of the country's major real estate crisis.
This spring, founder Hui Ka Yan pleaded guilty to fraud against investors and bribery. He has now been sentenced to life in prison by a court in Shenzhen. The court has also ordered the confiscation of his assets.
When the company was liquidated in 2024, it had debts of more than $300 billion. Hui Ka Yan was then the second richest man in Asia.
