Reported about 13 hours ago
Country Garden, formerly China's leading property developer, has reported a net loss of 12.84 billion yuan ($1.75 billion) for the first half of 2024, following a staggering 178.40 billion yuan loss for the entirety of 2023. These results come as the company grapples with ongoing struggles in the real estate sector, compounded by its default on $11 billion in offshore bonds in late 2023. Additionally, the company's shares have been suspended from trading since April 2, 2024.
Source: YAHOO