Chinese Property Titan Teeters as Investor Confidence Fades

HONG KONG—For years, China Evergrande Group rode some of the biggest trends in Chinese finance, using debt-fueled growth to capitalize on a seemingly unstoppable property boom in China.

Global investors, many of whom believed the developer was too big to fail, bought up its high-yielding U.S. dollar bonds to earn fat returns.

Now, Chinese entrepreneur Hui Ka Yan’s real-estate-focused conglomerate is struggling to adapt to a new era—and its depressed stock and bond prices point to shaken investor confidence.