Real Estate
Country Garden Delays Results, Expects Trading Suspension
- Developer says it needs more information to complete results
- Missed deadline means firm faces HK trading suspension
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Country Garden Holdings Co., one of China’s biggest property developers, warned it will miss a deadline for reporting annual results, further complicating plans to restructure its debt following a default last year.
In a surprise announcement late Thursday, the Foshan-based developer said it expects to delay publishing its 2023 results beyond a March 31 deadline imposed by regulators. The delay will likely result in a suspension of trading on April 2 when the Hong Kong market reopens after Easter, the firm said in a filing.