Guangzhou R&F Properties Co., Ltd. provided preliminary unaudited group earnings guidance for the year ended 31 December 2023. For the year, the group expects to record a net loss of approximately RMB 19.5 billion as compared to a net loss of RMB 15.779 billion for the year ended 31 December 2022. The expected net loss is mainly attributable to the following factors: the continuous downturn in the real estate market of China which resulted in a decrease in revenue and gross profit generated from property development; an increase in the impairment provision of properties under development and completed properties held for sale; an increase in fair value loss on investment properties; and the write-off deferred tax assets recognised in prior years related to unutilized tax losses.
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EPS Revisions
Quarterly revenue - Rate of surprise
1st Jan change | Capi. | |
---|---|---|
-12.28% | 442M | |
+34.25% | 28.37B | |
-11.96% | 27.34B | |
+6.96% | 26.59B | |
+15.21% | 25.28B | |
+48.22% | 23.37B | |
+6.98% | 20.39B | |
+2.27% | 19.71B | |
+28.49% | 16.22B | |
-13.52% | 15.11B |
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- Guangzhou R&F Properties Co., Ltd. Provides Preliminary Unaudited Group Earnings Guidance for the Year Ended 31 December 2023