However, that is a halving from the same period last year, when the company lost 66.4 billion yuan, according to a statement published on the website of the Hong Kong Stock Exchange.
Evergrande, once China’s top property developer, is struggling with huge debt and has become emblematic of the property crisis that continues to rock the world’s second-largest economy.
According to the statement on Sunday, the debt is now almost $328 billion, down from $240 billion at the end of 2022.
Evergrande has been in financial crisis for several years after defaulting on its loan and bond payments. In July, Evergrande reported a net loss of more than NOK 1,200 billion for 2021 and 2022.
(NTB)
2023-08-27 19:31:51
#billion #loss #Evergrande
