By Kosaku Narioka Country Garden Holdings said Wednesday that there is some uncertainty over its ability to continue as a going concern as it posted net loss...
Country Garden Holdings said Wednesday that there is some uncertainty over its ability to continue as a going concern as it posted net loss for the first half of 2023 after writing down the value of property projects amid a slump in the Chinese real-estate market.
While revenue rose 39% from a year earlier to CNY226.31 billion, the developer booked a net write-down of properties of about CNY40.34 billion partly due to weakness in the real estate market.
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