Greenland Holdings Corp., Shanghai-based parent of Atlantic Yards/Pacific Park developer, sees its stock price continue to decline.

So, how is Greenland Holdings Corp. (aka Greenland Holdings or Greenland Group), the Shanghai-based conglomerate that owns nearly all of the main developer of Atlantic Yards/Pacific Park, doing?

Not well. According to Google Finance, as excerpted below, the stock price on the Shanghai Stock Exchange is 2.83 yuan, almost two-thirds below the peak in late 2020, but not quite as low as the 2.55 yuan it hit in the last year.

So the company, like other financially stressed Chinese developers, has high debts, a low credit rating, and, at least according to the Google Finance calculations--which may not be fully reliable--a price/earnings (P/E) ratio of 180.72.

Note: the Wall Street Journal says the P/E ratio is 87.62. Yahoo Finance says 94.33. Either way, that's quite high. The median P/E for the S&P 500 was 14.93 last month, according to Investopedia.

Greenland last paid a dividend in July 2021, which means its retaining cash to pay its debts.

Note: Greenland USA owns 95% of Greenland Forest City Partners, meaning it shoulders the expense of developing the platform, as well as would reap the revenues from future development. That also means it would get 95% of the sale of any development parcels.