China’s Evergrande Subsidiary Sees Major Decline in Annual Profit | Trailer

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China’s Evergrande Property Services Group said on Friday it expects to record a decrease of up to 37 percent in its annual profit for the year that ended on Dec. 31, 2024, due to legal expenses related to a deposit pledge, among other reasons. In early January, a Guangzhou city court ordered the firm’s parent China Evergrande to repay pledge guarantees on deposit certificates totaling 13.4 billion yuan ($1.85 billion).

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