HONG KONG (Reuters) - China's largest private property developer Country Garden reported on Wednesday a January-June net loss of 48.9 billion yuan ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSHONG KONG - China's largest private property developer Country Garden reported on Wednesday a January-June net loss of 48.9 billion yuan versus a 612 million yuan net profit in the same period a year ago.
It is the second semi-annual net loss for the embattled developer in a row, as it posted 6.7 billion yuan net loss in the second half of 2022.
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Country Garden Posts Record Half-Year Loss Amid Default FearsCountry Garden Holdings Co. posted a record first-half loss, underscoring how China’s real estate slump has brought the property giant to the brink of a debt default.
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Country Garden to Issue HK$270 Million of Shares to Offset LoanCountry Garden Holdings Co. aims to issue HK$270 million ($34.4 million) of new shares, as the distressed developer tries to pay off money it owes to other companies.
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Country Garden to Issue $34 Million of Shares to Pay Loans(Bloomberg) -- Country Garden Holdings Co., the Chinese property developer at risk of defaulting, is planning to issue HK$270 million ($34.4 million) of new shares to pay off loans as it faces a cash crunch. Most Read from BloombergCitadel Vets 69,000 Intern Applicants to Find Next Math GeniusesPutin Agrees to Visit China in First Trip Since Arrest WarrantWhat to Do With a 45-Story Skyscraper and No TenantsStocks Up Most Since June as Fed Bets Sink Yields: Markets WrapCrypto Scores Landmark US L
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Country Garden Seeks to Add Grace Period for Maturing Yuan BondCountry Garden Holdings Co. has proposed a grace period of 40 calendar days for a maturing yuan bond, marking the distressed Chinese developer’s latest effort to avoid what would be its maiden default.
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Country Garden seeks to add 40-day grace period to onshore bond repaymentBEIJING (Reuters) - China's largest private property developer Country Garden Holdings is seeking to add a 40-day grace period for the repayment of a ...
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All eyes on Country Garden's cash flow as troubled firm set to report lossJust how cash-strapped embattled Country Garden Holdings is will be the focus when China's largest private property developer is due to report its first-half results on Wednesday. The liquidity stress in the company became public this month after it missed two dollar coupon payments and sought to extend an onshore private bond repayment, deepening contagion fears in China's struggling property sector, and the wider economy. Like its peers, the company, which was China's largest property developer by sales volumes until this year, has been hurt by a drop in margins as property sales and the value of the homes themselves plummeted in China's slowing economy.
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