China developer Evergrande posts new losses for first half of the year

The developer's January-June losses were 33 billion yuan ($4.53 billion)

AFP

August 27, 2023 / 20:51 IST

Evergrande Group

Heavily indebted Chinese property giant Evergrande Group on Sunday posted losses for the first half of the year, adding to its financial woes.

The developer's January-June losses were 33 billion yuan ($4.53 billion), compared to 66.4 billion yuan lost in the same period last year, according to a statement published on the Hong Kong Stock Exchange website.

AFP

first published: Aug 27, 2023 08:51 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347