Country Garden Holdings Co ( (CTRYF) ) has released its Q4 earnings. Here is a breakdown of the information Country Garden Holdings Co presented to its investors.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Country Garden Holdings Co is a leading real estate developer in China, primarily engaged in property development and technology-enabled construction, with a significant presence across various cities. The company’s latest earnings report reflects a challenging year with a 6.8% decrease in total revenue to RMB401.0 billion and a substantial loss before income tax of RMB167.3 billion. Contracted sales attributable to shareholders stood at RMB174.3 billion, while the total cash position decreased to RMB63.8 billion. The company reported a year-on-year decrease in selling, marketing, and administrative expenses by 8.6% to RMB18.0 billion. The management anticipates benefiting from recent policies aimed at stabilizing the property sector and is focusing on ensuring project delivery and operational continuity while exploring new business ventures in construction technology and escrow services. Despite facing significant liquidity pressures and market challenges, Country Garden remains committed to adapting its business model and leveraging supportive governmental policies to achieve sustainable development.
