A housing project by Poly Group under construction in the Guangdong provincial city of Dongguan on July 13, 2022. Photo: AFP
A housing project by Poly Group under construction in the Guangdong provincial city of Dongguan on July 13, 2022. Photo: AFP

China’s real estate slump crimps earnings at China Resources Land, China Overseas Land and other developers

  • China Resources Land’s profit attributable to shareholders fell 19 per cent to 72.9 billion yuan, while revenue shrank 2 per cent to 121.04 billion yuan
  • China Overseas’ interim profit fell 10 per cent to 17.35 billion yuan while revenue dropped by 4 per cent to 103.79 billion yuan, its first decline since 2018

A housing project by Poly Group under construction in the Guangdong provincial city of Dongguan on July 13, 2022. Photo: AFP
A housing project by Poly Group under construction in the Guangdong provincial city of Dongguan on July 13, 2022. Photo: AFP
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