CCCG Real Estate (000736.SZ) announced a preliminary loss, with an estimated net loss of approximately 5.3 billion yuan for the year 2024.

CCCG Real Estate (000736.SZ) released its 2024 annual performance forecast, expecting a net loss of approximately 5.3 billion yuan attributable to the company's shareholders for the full year, and a loss of 5.4 billion yuan after deducting non-recurring gains and losses. The main reasons are: 1. Due to the different delivery schedules of the company's real estate development business, the number of projects that met the delivery conditions in the current period decreased compared to the same period last year. At the same time, against the backdrop of increasingly fierce market competition, in order to accelerate inventory turnover and fund recovery, the company adjusted its sales strategy, resulting in a decrease in the gross profit margin of delivered projects during the reporting period compared to the same period last year; 2. With the increase in completed real estate projects, the company's interest expense increased, resulting in a increase in financial expenses in this period compared to the same period last year; 3. During the reporting period, some of the company's real estate projects showed signs of impairment. The company conducted a preliminary impairment test on inventory in accordance with accounting standards and, based on the prudence principle, recognized impairment losses on real estate projects showing impairment signs.