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Sunac China Expected to Narrow Last Year's Losses to a Maximum of 13 Billion
Sunac China Holdings Limited (01918) announced that for the year ended last year, the company’s attributable loss should be between RMB 12 billion and RMB 13 billion, a significant decrease compared to a loss of RMB 25.7 billion in 2024.
The company stated that the substantial reduction in losses was mainly due to gains from offshore debt restructuring recorded during the period. Excluding the impact of debt restructuring gains, the loss for the period was primarily due to market influences, with a significant decline in recognized revenue and pressure on gross profit margins, as well as additional provisions for asset impairments and contingent liabilities.