Country Garden's sales in 2023 less than half previous year's
HONG KONG -- Embattled Chinese property developer Country Garden Holdings' contracted sales in 2023 plunged to less than half the previous year's level, with a sharp dip in December underscoring the dire situation facing the company.
Contracted sales are the company's main source of revenue but the figure for December dipped almost 70% year on year, according to a filing to the Hong Kong Exchange on Thursday evening.