China Builders Face Worst Earnings in Decade With Audit Woes
- Several builders expect to miss deadline for audited results
- Investors will look for clues on debts, cash as crunch deepens
Unfinished apartment buildings at the construction site of a China Evergrande Group development in Beijing.
Photographer: Andrea Verdelli/BloombergThis article is for subscribers only.
Investors in Chinese developers are bracing for the one of the worst earnings seasons in more than a decade -- and even then, they’re unlikely to get the full picture right away.
At least nine property firms including defaulters China Evergrande Group and Kaisa Group Holdings Ltd. expect to miss this month’s deadline for reporting audited annual results -- the first round of earnings since a credit crunch sent shockwaves through the industry and triggered a wave of defaults.