Evergrande Real Estate Group Ltd. (03333.HK) is targeting revenue of 10 billion yuan (US$1.65 billion) this year for its “Evergrande Spring” bottled water business, Beijing Business Today cited group chairman Xu Jiayin as saying Sunday. For 2015 and 2016, the revenue goal for that business will be 20 billion yuan and 30 billion yuan respectively, he said. The water brand, launched in October last year, now boasts a wide distribution network including major supermarket chains. Evergrande spluged 1.3 billion yuan over the last 20 days to promote its brand across the country, the report said.
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