China Resources Holdings Limited (CRC) announced on March 17 that it expects a loss of 12 to 13 billion yuan in 2025. The group attributed the loss mainly to market conditions, with a significant decrease in turnover and pressure on gross profit margins.
In a profit warning announcement issued on March 17, CRC stated that it anticipates a loss ranging from 12 to 13 billion yuan for the current fiscal year.
The announcement cited, “The loss recorded for this year is mainly due to the impact of market conditions, a significant decrease in turnover, pressure on gross profit margins, and further provisions for asset impairment losses and provisions for contingent liabilities.”
However, the announcement also noted that the 2025 loss has decreased compared to 2024.
Public records indicate that China Resources Holdings Limited was established in 2003 and listed on the Hong Kong Stock Exchange in 2007. It is a large real estate development group that has ranked among the top five in China’s real estate sales for multiple years.
Despite being a prominent real estate company, in the challenging environment of China’s real estate market downturn, CRC has not been immune to declining performance, significant losses, and even debt defaults.
A wholly-owned subsidiary of CRC, China Resources Real Estate Group Limited, issued a statement on March 6, revealing that the company had defaulted on four debts totaling 614 million yuan due to the failure to repay principal or partial principal amounts on time.