Chinese Real Estate Developer
The profit of Chinese real estate developer Country Garden dropped sharply by as much as 70% for the first half of the year amid the country’s escalating property crisis.
According to its filings on Thursday, August 16, the company’s net core profit was 4.5 billion yuan to 5 billion yuan ($660 million to $735 million) for the first six months of 2022, down from 15.2 billion yuan ($2,2 billion) a year earlier.
Credit to : Spotlight on China
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