Profit warnings proliferate as developers file results

Nearly half of the developers that have filed preliminary 2014 earnings figures with mainland stock exchanges warned of lower profits, underscoring the depth of the correction in the industry.

The trend was especially marked among smaller companies.

As of Tuesday, 36 developers listed in Shanghai and Shenzhen had filed preliminary results for 2014, according to securities information provider Wind Information Co Ltd. Of those, 17 warned of weaker profitability and seven said they were likely to report a net loss.