Company to announce FY 2023, H1 2024 results on Tuesday
Shares have been halted since April 2, 2024 pending results
Result announcements come ahead of liquidation hearing next week

HONG KONG, Jan 14 Reuters Country Garden, once China39;s top developer and now facing a liquidation lawsuit, is expected to report steep losses when it publishes longoverdue results on Tuesday, analysts say, as a prolonged property sector crisis weighed on sales.

Country Garden delayed the publication of its 2023 fullyear and 2024 interim financial reports after defaulting on 11 billion of offshore bonds in late 2023. As a result, its Hong Kong shares have been halted from trading since April 2, 2024.

The accounts will be released later on Tuesday against the backdrop of property sales in China shrinking nearly 50 over the past three years as the industry reeled from an unprecedented debt crisis that began in 2021.

The release of the overdue financial results will put the embattled developer on course to seek a resumption in trading from the Hong Kong Stock Exchange, possibly as soon as from Wednesday.

The publication of the overdue results and the resumption of stock trading are linked to Country Garden39;s efforts to fend off a liquidation petition filed by a creditor in a Hong Kong court relating to its nonpayment of a 205 million loan.

Guangdong provincebased Country Garden said last week it has proposed to creditors a debt restructuring that would cut its offshore debt worth 16.4…