Yuexiu Property (HKG:0123) expects profit attributable to equity holders of 50 million yuan to 100 million yuan for the first half, down about 90% to 95% from a year earlier, according to a July 17 Hong Kong bourse filing.
The company attributed the expected decline to lower revenue recognition, weaker contributions from joint ventures and associates, and softer property development margins amid China's prolonged real estate downturn.
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