Country Garden Holdings Co, China's largest property developer, reported a first full-year loss since its 2007 listing in Hong Kong. The Foshan-based company posted a net loss of about 6.1 billion yuan (US$885 million) in 2022, compared with a profit of 27 billion yuan a year earlier. The developer warned of the loss earlier this month. The result underscores how a slump in China's real estate sector is weighing on some of the strongest private builders that have avoided a default so far. Once considered a safer investment among developers, Country Garden has become a proxy for financial contagion in an industry that accounts for about a quarter of the country's gross domestic product.

http://klse.i3investor.com/web/blog/detail/kianweiaritcles/2023-03-30-story-h-275049324-China_s_largest_developer_posts_first_loss_since_2007_listing

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