HONG KONG: Top Chinese property developer Country Garden Holdings said on Monday it expected to post its first net loss since listing in 2007 due to a sluggish property market and flagged a worse-than-feared drop in core profit.
China's top homebuilder by sales was the latest in a growing list of developers that have warned they would report a loss or drop in profit for 2022 after being hit last year by a debt crisis and COVID-lockdowns that delayed or halted home-building.
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