Sunac China expects loss of up to $27.9b

The company said it is mainly due to the significant reduction in recognised revenue.

Sunac China Holdings Limited is expecting a loss attributable to owners ranging from $27.4b (RMB25.5b) to $27.9b (RMB26b) for the financial year ending 31 December 2024.

The company said it is mainly due to the significant reduction in recognised revenue from the market downturn and the provisions for the impairment of assets and contingent liabilities.

Additionally, it was due to gains from offshore debt restructuring recorded last year. Setting aside the impact of debt restructuring gains, the loss was expected to decrease as compared to last year.

($1=RMB0.93)