Country Garden posts $6.7 billion net loss in H1

HONG KONG (Reuters) – China’s largest private property developer Country Garden reported on Wednesday a January-June net loss of 48.9 billion yuan ($6.72 billion) versus a 612 million yuan net profit in the same period a year ago.

It is the second semi-annual net loss for the embattled developer in a row, as it posted 6.7 billion yuan net loss in the second half of 2022.

($1 = 7.2810 Chinese yuan renminbi)

(Reporting by Clare Jim; Editing by Tomasz Janowski)