(Yicai Global) July 20 -- More than half of the listed Chinese property developers that have so far made first-half earnings estimates expect to have made a loss in the period, with a number forecasting deficits in excess of CNY1 billion (USD148 million) each.

Forty-two of the 77 builders that have made announcements expect to lose money, while just 12 anticipate a profit, according to figures compiled by data provider Wind.

Those expecting to report losses of more than CNY1 billion included Yango Group, Jinke Property Group, RiseSun Real Estate Development, Zhongnan Construction Group, Beijing Capital Development, and Zhongtian Financial Group. They blamed the red ink on fewer projects, falling prices and profit margins, as well as asset impairment.

The biggest loss, some CNY4.6 billion, may be reported by Languang Development. More than half of that is likely to be an impairment provision, while about CNY1.9 billion is due to regulations aimed at reining in debt levels at Chinese developers, according to the Sichuan province-based firm. Shanghai-based Yango may be the second-largest loser at between CNY3.5 billion and CNY4.5 billion. Inventory was reduced and prices were cut amid liquidity issues, it said.

Companies predicting profits expect modest sums. The biggest profit was forecast by Guangzhou-based Poly Real Estate Group, which sees a 4 percent gain in first-half net income to CNY10.7 billion (USD1.6 billion), though the developer said its contracted sales may have slumped 26 percent to CNY210.2 billion (USD31.1 billion).

Any major profits were most likely related to investments. Financial Street Holdings Group expects to double net profit to a point between CNY1.09 billion and CNY1.27 billion because it sold the Ritz-Carlton Beijing Financial Street for CNY780 million (USD115.6 million).

Another winner was Youngor Group. The Ningbo-based builder, which also sells clothing, said its first-half net profit will rise due to a relatively small base from last year.

Editor: Xu Wei, Emmi Laine, Xiao Yi