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02/04/2024 10:57 (UTC)

CHINA HONG KONG REAL ESTATE

Country Garden ceases trading in Hong Kong amid financial challenges in China

Beijing, Apr 2 (EFE/EPA).- Heavily indebted Chinese real estate company Country Garden suspended its shares from trading on the Hong Kong Stock Exchange on Tuesday, a move anticipated by the company last week when it announced it would be unable to file its fiscal 2023 results on time.

Scheduled to reveal its annual financial results last Thursday, analysts had predicted the company would post losses of about $6.21 billion.

A failure to reach agreement on current accounts with its auditor, PriceWaterhouseCoopers (PwC) has led to the suspension, although Country Garden says this will not materially affect its operations. (Camera: ANDRES MARTINEZ CASARES).

FOOTAGE OF A CONSTRUCTION SITE OF RESIDENTIAL BUILDINGS DEVELOPED BY COUNTRY GARDEN IN BEIJING, CHINA.

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