Sunac China Holdings (HKG:1918) expects to book an attributable loss of between 25.5 billion yuan and 26 billion yuan for 2024, compared with a 7.97 billion yuan loss in the prior year, according to a Monday filing with the Hong Kong bourse.

The company attributed the anticipated wider loss to the market downturn that dragged its recognized revenue lower.

Sunac said it has also set aside provisions for "impairment on assets and contingent liabilities."

The property developer also attributed the wider loss to gains recorded in 2023 from offshore debt restructuring.