The stock reached an intra-day level of 90 Hong Kong cents after the company warned it is expecting a loss of between $6.24 billion to $7.63 billion for the six months ended June.
Shares of Country Garden hit an all-time low after it issued a profit warning for the six months ended June.
The company expects to see a loss of about $6.24 billion to $7.63 billion for the period, compared to a $265 million profit in June 2022. Country Garden Holdings Co.'s Fengming Haishang residential development in Shanghai, China, on Tuesday, July 12, 2022.Country Garden HoldingsThe stock fell to an intraday low of 90 Hong Kong cents, extending the company's losing streak after eight sessions of losses in the past nine days. This included a 14.3% plunge on August 8.The broader Hang Seng Mainland Property Index was 1.49% lower in afternoon trade on Thursday.
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