HKSE - Delayed Quote HKD

Country Garden Services Holdings Company Limited (6098.HK)

6.890

-0.240

(-3.37%)

As of 3:28:32 PM GMT+8. Market Open.

Property developer Country Garden's unit forecasts higher annual earnings

The property services arm expects a net profit attributable between 1.60 billion yuan ($221.03 million) and 2 billion yuan for fiscal 2024 ended December, compared with 292.3 million yuan a year earlier. Country Garden Services said it benefited from optimising some businesses it had acquired previously that led to lower impairment charges for the year ended 2024. Its parent company Country Garden and a string of other real estate developers defaulted on debt repayment obligations over the past three years that affected China's economically crucial property sector and forced Beijing to announce support measures.

Reuters last month

CTRGF
Country Garden's property services arm expects annual earnings to fall

The unit, Country Garden Services , said the impairment was primarily because the expansion of its sanitation business had not been carried out as was scheduled and expected in the past years, leading to a drop in both sales and profit. The long payment period of some customers of the sanitation business had also resulted in some "unsatisfactory" cash flows, Country Garden Services said in an exchange filing.

Reuters 3 months ago

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Country Garden Services to sell stake in Zhuhai Wanda for $446 million

The sale allows the company to streamline its investments, recover capital, and refocus on its core business operations as part of its planned exit strategy, it said. Once a top developer by sales, Country Garden is undergoing an offshore debt restructuring after defaulting on its $11 billion offshore bonds last year.

Reuters 7 months ago

CGSHY

Performance Overview

Return	6098.HK	HANG SENG INDEX (^HSI)
YTD	+23.92%	+16.59%
1-Year	+24.33%	+22.61%
3-Year	-72.96%	+17.53%

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Country Garden Services Holdings Company Limited (6098.HK)

Property developer Country Garden's unit forecasts higher annual earnings

Country Garden's property services arm expects annual earnings to fall

Country Garden Services to sell stake in Zhuhai Wanda for $446 million

Performance Overview