Troubled Chinese developer Country Garden’s loss for first half of 2024 narrows

Quick Summary:

Foshan-based developer also says revenue for first half of 2024 fell 55 per cent to 102 billion yuan.

In a statement on Tuesday, the company said it expects its results to improve for all of 2024.

The restructuring proposal included options to convert debt to cash with a 90 per cent haircut, as well as an extension of maturities by as many as 11.5 years.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Yuke Xie

Category: Business

Markets: Hong KongChina

Topics: Billion Property Company 2023 Year 2024 Developer Garden Cent Country Yuan

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 23:50:20 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 301 words

Reading Time: 2 minutes read

Sentences: 13 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 25156803

View Article Analysis

About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 7 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 14 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

Publisher Details

Frequently Asked Questions