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.
Country Garden Holdings Co., a prominent player in the real estate sector, is known for its extensive property development projects across China and its innovative approach to construction. The company recently released its annual earnings report for the year ending December 31, 2024, highlighting significant financial challenges amidst a turbulent market environment.
The earnings report revealed a substantial decrease in revenue, down 37% year-on-year to approximately RMB252.8 billion, alongside a net loss of RMB35.1 billion. Despite these setbacks, the company managed to deliver over 380,000 housing units, covering a vast area across 242 cities in China. The report also noted a significant reduction in selling and marketing costs, which decreased by 40.2% compared to the previous year.
Key financial metrics from the report include contracted sales of RMB47.2 billion and a total debt of RMB253.5 billion as of December 31, 2024. The company has been actively engaging in debt restructuring efforts, particularly focusing on offshore liabilities, to stabilize its financial position. Additionally, Country Garden is leveraging government policies aimed at boosting the real estate market to navigate the ongoing industry challenges.
Looking forward, Country Garden’s management remains cautiously optimistic, focusing on strategies to guarantee delivery, stabilize capital and debt, and maintain operations. The company is committed to adapting to market changes and optimizing its organizational structure to improve operational efficiency.
As the real estate industry undergoes significant transformation, Country Garden is positioning itself to capitalize on new development opportunities, driven by supportive government policies and a strategic focus on sustainable growth.