HONG KONG — Embattled real estate developer Country Garden Holdings has belatedly reported staggering losses for 2023, offering a fresh glimpse into the depths of China’s property crisis.
The company reported a net loss of 178.4 billion yuan ($24.3 billion) for 2023, widening sharply from a 6.05 billion yuan loss the previous year, according to an unaudited full-year report released late Tuesday after a monthslong delay. Total revenue shrank to 401 billion yuan from 430 billion yuan in 2022.
