Country Garden Services Shares Sinking Even After Profit Alert
  • March 6, 2023
  • Team Hongkong Journalist
  • 0

Country Garden Services Holdings Co. Ltd. is one of the China-based residential property-selling companies. The company’s shares subsided on Monday after issuing a profit alert for 2022.

Shares were recently 9.0% lower, at 14.60 Hong Kong dollars (US$1.86), after previously touching HK$14.22, the lowest intraday level since Nov. 11, according to FactSet.

On Friday, one of the service providers talked numbers for the previous years and said to the Hong Kong stock exchange that the company’s unaudited profit before tax, net profit, and net profit attributable to shareholders are expected to sink around 34%-40%, 45%-51%, and 51%-57% respectively.

The company also informed its integrated revenue and core net profit attributable to shareholders for 2022  are expected to rise by more than 40% and 5%, respectively this year.

- Published By Team Hongkong Journalist

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