The China Evergrande Centre in Hong Kong. Sunday’s announcement comes two months after the company put 223 commercial properties up for sale to tackle its leverage. Photo: Reuters
China Evergrande, country’s biggest developer by sales, says coronavirus, discounts to blame for expected 46 per cent decline in first-half profit
- Shenzhen-based company expects net profit for the first half of 2020 to decline by about 46 per cent to 14.7 billion yuan
- Its core profit, excluding extraordinary items, is seen shrinking 37 per cent to 19.3 billion yuan from a year ago
Topic |
China property
The China Evergrande Centre in Hong Kong. Sunday’s announcement comes two months after the company put 223 commercial properties up for sale to tackle its leverage. Photo: Reuters
