Gemdale's H1 Loss to Widen

Gemdale said it has resolved its liquidity crisis, saying it has repaid about 20 billion yuan of debt due in 2024, The Paper said, citing remarks by President Li Ronghui during the company's shareholders' meeting.

Outstanding interest-bearing debt is less than 70 billion yuan, with two public debts, one totaling 60 million yuan due in October and the other, 500 million yuan due in April 2026, the report said.

Gemdale is trying to resume investment following the resolution of its debt crisis, the report said, citing Senior Vice President Hao Yibin.

Gemdale's contracted sales in May dropped 52% year on year to 3.12 billion yuan, according to a Shanghai bourse filing on Wednesday.

The contracted sales area in the same month also fell 52% year on year to 238,000 square meters.

Between January and May, the Chinese property developer's contracted sales decreased 52% to 14.1 billion yuan, while its contracted sales area declined 49% to 992,000 square meters.

The company's shares rose more than 1% in recent trade.

Chinese shares made losses on Friday, cutting a three-day winning streak, as sentiment wavered over the upcoming talks with the US and a drop in China's trade balance in April.

The Shanghai Composite Index slid 0.3%, or 10.00 points, to cap the trading week at 3,342.00. The Shenzhen Component Index fell 0.7%, or 70.83 points, to 10,126.83.

Optimism over the talks between China and the US waned despite US President Donald Trump signaling that some tariffs on Chinese goods may be reduced ahead of the meeting in Switzerland.

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in the weekend for talks that may mitigate the escalating trade war between the countries.

Compounding the market blow is China's trade surplus in April, which dropped to $96.2 billion from $102.6 billion in March despite strong export growth.

In corporate news, Mubang High-tech dropped 5% after the toy distributor was ordered by a court to pay Wuxi Lead Intelligent Equipment 42.5 million yuan to settle a sales contract dispute.

Shanghai Lingyun Industries Development slumped 5.3% despite its electricity revenue between January and April jumping 27% year on year to 38.9 million yuan.

Gemdale fell 3.5% as its contracted sales and contracted sales area in April both dropped 55% year on year.

Chinese shares made losses on Friday, cutting a three-day winning streak, as sentiment wavered over the upcoming talks with the US and a drop in China's trade balance in April.

The Shanghai Composite Index slid 0.3%, or 10.00 points, to cap the trading week at 3,342.00. The Shenzhen Component Index fell 0.7%, or 70.83 points, to 10,126.83.

Optimism over the talks between China and the US waned despite US President Donald Trump signaling that some tariffs on Chinese goods may be reduced ahead of the meeting in Switzerland.

US Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer are set to meet with Chinese Vice Premier He Lifeng in the weekend for talks that may mitigate the escalating trade war between the countries.

Compounding the market blow is China's trade surplus in April, which dropped to $96.2 billion from $102.6 billion in March despite strong export growth.

In corporate news, Mubang High-tech dropped 5% after the toy distributor was ordered by a court to pay Wuxi Lead Intelligent Equipment 42.5 million yuan to settle a sales contract dispute.

Shanghai Lingyun Industries Development slumped 5.3% despite its electricity revenue between January and April jumping 27% year on year to 38.9 million yuan.

Gemdale fell 3.5% as its contracted sales and contracted sales area in April both dropped 55% year on year.

Gemdale's contracted sales and contracted sales area in April both dropped 55% year on year, according to a Shanghai Stock Exchange disclosure on Friday.

The Chinese property developer earned contracted sales of 2.78 billion yuan after selling 214,000 square meters during the month.

For the first four months of the year, contracted sales area declined 52% to 10.93 billion yuan and contracted sales decreased 48% to 755,000 square meters, the disclosure said.

The company's shares fell less than 3% in recent trade.

Gemdale posted a first-quarter net loss attributable to shareholders of 657.8 million yuan, widening from a loss of 276.0 million yuan the previous year.

Loss per share deepened to 0.15 yuan from 0.06 yuan, according to a filing with the Shanghai bourse.

The property developer's revenue was down 14% to 5.97 billion yuan from 6.96 billion yuan.

Shares of Gemdale closed less than 1% lower Tuesday.