China Aoyuan Group Limited (Aoyuan) is a Guangzhou-based property developer focused on the Greater Bay Area, or GBA, and diversified to a nationwide presence across China. Of note, aside from core exposure in Tier-1 and -2 cities, Aoyuan possesses significant exposure to Tier-3 and -4 China cities (34% by land cost) and is active in M&A for landbank. Aoyuan also expanded into overseas markets including Australia and Canada. Further to geographical diversification in its core property development business, Aoyuan also diversified to other business segments including e-commerce and insurance. The company spun off property management arm Aoyuan Healthy Life as a separate listing (54.6% stake) in Hong Kong in March 2019. Guo Zi Wen (founder) and Guo Zi Ning control 55.2% of Aoyuan.China Aoyuan Property Group Ltd and its subsidiaries are engaged in property development and investment activities in the People's Republic of China. Its projects are held in Guangdong, Shenyang, Chongqing, Hunan, Guangxi, Jiangxi and among others.