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More Property Developers Expect Losses

CHINA PRESS
MNI (Singapore)

More than 60% of listed real-estate companies expect losses in their performance forecasts. Among the 113 listed developers, 67 have released forecasts of which 42 have forecasted a loss in their attributable net profit in H1, while at least half achieved profitability in the same period last year. The most indebted developer, Evergrande Group, has posted losses of CNY800 billion over a two-year period, with CNY686 billion in 2021 and CNY126 billion in 2022, raising the ceiling of losses of Chinese companies to an unprecedented height. (Source: Yicai)

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