Media365
Country Garden Holdings is expected to return to profit for the year ended December 31, helped by a non-cash gain from the completion of its debt restructuring.
According to its filings to the Hong Kong stock exchange on Monday night, the group would record “a profit ranging from approximately 1 billion yuan [US$145 million] to 2.2 billion yuan for the year ended December 31, 2025”.
That compared with the loss of about 35.15 billion yuan over the same period in 2024.
The turnaround was mainly attributable to the completion of its debt restructuring, the Guangdong-based property development company said.
Excluding this factor, the loss was primarily due to pressure on gross profit margins in its development business, affected by industry conditions, and further impairment provisions for certain assets and property projects, it said.
Shares of the Chinese developer rallied 6.7 per cent to HK$0.32 in Hong Kong on Tuesday, paring its decline this year to 24 per cent.
