Reported 3 months ago
Country Garden, once the leading developer in China, is set to report major losses as it publishes its delayed financial results. The company has faced a significant drop in sales due to an ongoing property crisis, resulting in its shares being halted since April 2024. After defaulting on $11 billion in bonds, Country Garden is now seeking to restructure its debts while grappling with a steep decline in property sales, which have fallen nearly 50% in the last three years. Analysts expect the upcoming financial results to highlight the extent of the company's financial troubles.
Source: YAHOO