China's Poly Property drops to a year low on seeing first-half loss
BUZZ-China's Poly Property drops to a year low on seeing first-half loss ** Shares of Poly Property Group 0119.HK drop 7.5% to HK$1.49, their lowest level since June 2025
** Stock set for the biggest one-day pct decline since June 18
** The Chinese property developer expects to post net loss of 700-800 million yuan ($103.24-$117.98 million) for the six months ended in June, as compared to net profit of 208 million yuan for the same period a year ago
** The mainland real estate industry consolidates at its bottom with pressure on market volume and price, leading to a decline in gross profit margin of the property development business, while de-stocking of some long-term inventory projects further dragged down gross profit margin - co
** YTD, stock down 24%, benchmark Hang Seng Index .HSI down 8.9%
($1 = 6.7806 Chinese yuan renminbi)
(Reporting by Donny Kwok)
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