In 2025 Forbes Global 2000, Greenland Holdings, parent of Greenland USA, continues drop, to #931 from #891. It was once #307. Losses drag stock price down.

Shanghai-based Greenland Holdings, parent of Atlantic Yards/Pacific Park developer (for now) Greenland USA, has further continued its slide in the annual Forbes Global 2000 list, this year ranked at #931, down from #891 in 2024 and well below its peak of #307. Last year, as I wrote, it was at #831 (or #832).

It represented the second straight loss for the company--the first ones since Forbes started compiling records in 2017. So the losses drag down the #349 ranking in sales and #267 ranking in assets.

Forbes ranks the world's largest companies in the world using four metrics: sales, profits, assets and market value. The better known Fortune Global 500 ranking, which should be released in August, relies solely on revenue in the past fiscal year.

Screenshot from Forbes

The bottom line: though Greenland was billed when it came into the project in 2014 has having deep pockets, that situation is far away. 

No wonder its U.S. subsidiary since November 2023 has faced foreclosure auction of the rights to six railyard development sites.

Losing money

The Greenland ranking indicates that, in the most recent year measured, revenue was $36.2 billion (down from $45.5 billion) and assets $153.2 billion (down from $165.6 billion), with an annual loss of $1.6 billion, the same as in the the 2024 ranking.

In 2023, as I reported, Forbes cited $63.3 billion in revenue, with assets of $190.4 billion, and minuscule profits of $299.4 million. In 2022, it reported $2.2 billion in profits. Since 2017, profits had exceeded $1.2 billion.

Greenland's employee count dropped to 46,347 from 59,970, part of another steady decline, In 2021, the number of employees exceeded 86,000.

Stock price down

Its stock price has also plunged, which means Greenland's market value--the sum of its stock--is now $3.53 billion, down from $4.2 billion last year. 

From Forbes

That was, as I wrote last year, one half--or one-third, depending on when you look--of the market cap in 2021-22.

Greenland's stock price today, according to Yahoo Finance, is ¥1.6, a drop of 65% over five years.

Screenshot from Yahoo Finance