Strong Country Garden Contract Sales Year to Date, but Likely to Slow During 2H
Country Garden's shares dropped more than 6% after a construction accident at one of the company's project sites in Anhui last Friday. Rain and wind caused the collapse of a workers' dormitory, resulting in six deaths and 12 injuries. The company announced that it has suspended all construction activities pending an investigation of the accident. The immediate impact will be a delay in the company's construction process across all projects. Regardless of the length of delay, we believe the publi...Country Garden Holdings is an investment holding company. Through its subsidiaries, Co. is engaged in the property development, construction, fitting and decoration, property management and hotel operation. Co. provides a range of products including residential projects such as townhouses, condos, as well as car-parks and retail shops. Co. also develops and manages hotels within some of its projects, and operates independent hotels. As of Dec 31 2014, excluding Guangdong province, Co. had property development operations in a number of selected locations in 23 provinces/ municipalities/autonomous regions in China.
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