Sunac China Holdings ( (HK:1918) ) has issued an announcement.
Sunac China Holdings reported a significant decline in revenue for the year ended December 31, 2024, with a 52% drop to approximately RMB74.02 billion. Despite achieving a gross profit of RMB2.89 billion, the company faced a substantial loss attributable to owners of approximately RMB25.70 billion, largely due to the absence of gains from offshore debt restructuring that were recorded in the previous year. The company’s cash balance decreased to RMB19.75 billion, and total borrowings were reduced by approximately RMB18.16 billion to RMB259.67 billion. The board did not recommend a final dividend for the year, reflecting ongoing financial challenges.
More about Sunac China Holdings
Sunac China Holdings Limited is a prominent real estate developer in China, primarily engaged in the development and sale of residential and commercial properties. The company operates through its joint ventures and associates, focusing on expanding its land bank and enhancing its market presence across various regions in China.
YTD Price Performance: -2.22%
Technical Sentiment Signal: Buy
Current Market Cap: $2.04B
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