News Snapshot:
Chinese property developer Country Garden Holdings Company Ltd (HK:2007) said on Thursday that its profit for the first half of 2022 is expected to drop substantially amid a severe real estate downturn. The firm, which is the sixth-largest property developer in China, said its net profit attributable to shareholders for the six months to June 30 is expected between 200 million yuan and 1 billion yuan ($29.5 million and $147.5 million), down from 15 billion yuan a year ago. Country Garden said in a statement to the Hong Kong Stock Exchange that the decline was largely due to a weakening...
