Not all of Chinese Estates' investments related to Evergrande have been profitable. In May 2016, Chinese Estates paid HK$7 billion for 580 million shares in Hong Kong-listed Shengjing Bank. Evergrande owned more than a third of Shengjing's outstanding shares before it disposed of them in early May. In the first half of the year, Chinese Estates sold 577 million shares of Shengjing Bank for a much-lower valuation of HK$2.12 billion.