All eyes on Country Garden's cash flow as troubled firm set to report loss By Reuters

All eyes on Country Garden's cash flow as troubled firm set to report loss

HONG KONG -Just how cash-strapped embattled Country Garden Holdings is will be the focus when China's largest private property developer is due to report its first-half results on Wednesday.

Like its peers, the company, which was China's largest property developer by sales volumes until this year, has been hurt by a drop in margins as property sales and the value of the homes themselves plummeted in China's slowing economy. Lower sales, coupled with tighter access to fresh funding in recent years, worsened its cash squeeze.

About 60% of the company's total onshore bonds mature over the remaining months of the year, and if the company is able to extend its repayment deadlines, it could be able to improve its operations and cashflow, the official added. They declined to be named because they were not authorised to speak to media.

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