COUNTRY GARDEN (02007) expected annual profit of about 1 billion to 2.2 billion, turning loss into profit year-on-year.
Country Garden (02007) announced that the loss for the year ended December 31, 2024 was approximately RMB 35.145 billion. The Group expects a profit for the year ending December 31, 2025 to be between approximately RMB 1 billion and RMB 2.2 billion. Based on the information currently available, the main reason for the turnaround from loss to profit this year is due to non-cash gains recorded by the Group from completing debt restructuring. Excluding the impact of the aforementioned debt restructuring gains, the Group recorded losses mainly due to industry pressures affecting the gross profit level of its development business, as well as further provisions for impairment of certain assets and property projects.
Country Garden (02007) has announced that the loss for the fiscal year ending December 31, 2024 is approximately RMB 35.145 billion. The group expects a profit of between RMB 1 billion and RMB 2.2 billion for the fiscal year ending December 31, 2025. Based on available information, the turnaround from a loss to a profit this year is mainly due to non-cash gains from debt restructuring recorded by the group. Excluding the impact of the debt restructuring gains, the group's loss is mainly attributed to pressure on gross profit levels in the development business due to industry influences, as well as further impairment provisions for certain assets and property projects.
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