Chinese property developer Yuzhou flags huge annual loss

Yuzhou group Co

15/03/2023 15:09

March 15 (Reuters) - Property developer Yuzhou Group
Holdings  1628.HK  on Wednesday said it was expecting to report
a massive annual loss, as a severe slowdown in China's real
estate sector hurt its operations.  
    For the year ended Dec. 31, 2022, Shanghai-based Yuzhou is
expected to record an attributable loss of 12 billion yuan 
($1.74 billion), compared with a profit of 862 million yuan
posted a year earlier.     

($1 = 6.9033 Chinese yuan renminbi)

 (Reporting by Nausheen Thusoo in Bengaluru; Editing by Anil
D'Silva)
 ((Nausheen.Thusoo@thomsonreuters.com;))