Chinese developer Country Garden reveals staggering $33 billion loss for 2023 in delayed report

Quick Summary:

Company said its full-year loss for 2024 should narrow "substantially” from 2023.

Dozens of developers have been hit, with another fallen giant, China Evergrande Group, already being liquidated in Hong Kong.

The stock last traded on March 28 last year, having lost about 97 per cent of its market value from its peak in 2018.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChinaHong Kong

Topics: 2023 Billion Country 2024 Restructuring According Garden Yuan Debt Loss Year

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-15 @ 07:39:00 (9 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 410 words

Reading Time: 3 minutes read

Sentences: 27 lines

Sentence Length: 16 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 25165182

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