Chinese Estates has disposed of more than 630 million China Evergrande shares at a loss of HK$7.9 billion. Photo: Bloomberg
Chinese Estates has disposed of more than 630 million China Evergrande shares at a loss of HK$7.9 billion. Photo: Bloomberg
Business

Chinese Estates reports US$447 million loss for 2021 as costs of China Evergrande friendship mount

  • Loss mainly due to a decline in dividend income from China Evergrande shares and losses from other equity and bond investments
  • Developer says outlook for the sector remains dim because of an uneven global economic recovery, the Omicron variant, supply-chain snarls and inflationary pressures

Pearl Liu
Pearl Liu

Updated: 8:19pm, 21 Mar, 2022

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Chinese Estates has disposed of more than 630 million China Evergrande shares at a loss of HK$7.9 billion. Photo: Bloomberg
Chinese Estates has disposed of more than 630 million China Evergrande shares at a loss of HK$7.9 billion. Photo: Bloomberg
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