Chinese Estates to post US$190 million loss as disposal of China Evergrande shares weighs heavily on bottom line

//Chinese Estates to post US$190 million loss as disposal of China Evergrande shares weighs heavily on bottom line

Chinese Estates to post US$190 million loss as disposal of China Evergrande shares weighs heavily on bottom line

Chinese Estates Holdings is expected to post its biggest loss in more than a decade, mainly due to losses arising from the sale of shares in the struggling China Evergrande Group.The company, which is 79 per cent owned by the family of Hong Kong tycoon Joseph Lau Luen-hung, said it will post an annual loss of HK$1.5 billion (US$192 million) for 2021, its biggest since it lost HK$8.85 billion in 2010.Last year, the company sold certain securities investments and treasury products which mainly…

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By | 2022-01-08T01:00:29+00:00 January 8th, 2022|Business|Comments Off on Chinese Estates to post US$190 million loss as disposal of China Evergrande shares weighs heavily on bottom line