Evergrande Property Services: Profits Plummet Amid Financial Woes

China Evergrande New Energy Vehicle Group Ltd’s property services arm has announced a projected revenue of approximately RMB6,220 million for the first half of the year. However, the group's unaudited net profit is expected to decrease by about 37% due to recognized bad debt losses and a partial pre-tax deduction of RMB13.4 billion.

China Evergrande New Energy Vehicle Group Ltd’s property services division has forecasted an unaudited consolidated revenue of around RMB6,220 million for the first six months of the year.

However, the company anticipates a 37% dip in unaudited net profit for the same period. This decrease is attributed to recognized bad debt losses and a pre-tax deduction related to RMB13.4 billion.

The financial struggles mark significant challenges for the group amid broader financial uncertainties.