China's Country Garden expects 2024 loss to narrow from 2023's $24 billion By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2025
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Source: Investing.com
Country Garden's Financial Outlook: Country Garden anticipates a narrower annual loss in 2024 following a record loss of 178.4 billion yuan ($24.33 billion) in 2023, as it aims to recover from the downturn in China's property market and address its debt issues.
Debt Restructuring Efforts: The developer is proposing a debt restructuring plan to reduce its offshore debt by 70% and has reported a significant drop in sales, with ongoing challenges expected in the property sector impacting its financial recovery.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
