Page 39 - Foshan News Today

It also cited material uncertainties that may cast significant doubt on the group’s ability to continue as a going concern.

Chinese property developer Country Garden reported a whopping 48.9 billion yuan ($6.7 billion) in losses for the first half of 2023, and warned of default risks down t...

International Business News: Chinese developer Country Garden Holdings Co has warned of a potential default on its debt and expressed concerns about staying in business after repo

Hong Kong: Chris Sun visits GBA elderly facilities

Benny Oeyen from Anglo American shares background on the groundbreaking H2 Moves Berlin project.

Hong Kong (CNN) — Country Garden is raising funds to avoid default, as the troubled real estate giant battles a liquidity crisis which some fear could spread to China’s wider economy and even spill over abroad.

(Bloomberg) -- Country Garden Holdings Co., the Chinese property developer at risk of defaulting, is planning to issue HK$270 million ($34.4 million) of new shares to pay off loans as it faces a cash crunch. Most Read from BloombergCitadel Vets 69,000 Intern Applicants to Find Next Math GeniusesPutin Agrees to Visit China in First Trip Since Arrest WarrantCrypto Scores Landmark US Legal Win With Grayscale ETF RulingWhat to Do With a 45-Story Skyscraper and No TenantsStocks Up Most Since June as

Country Garden won’t receive any cash from the proceeds, it said. The stock will be used to set off money it owes to a subsidiary of Kingboard Holdings, a Hong Kong-based manufacturer. 

Country Garden posts huge loss as developer teeters on the edge of default, underscoring the financial strains in the country’s property sector.

Hong Kong/London (CNN) — Country Garden warned Wednesday that it could default on its vast debts as it reported a loss of 51.5 billion yuan ($7 billion) for the first