China Evergrande Group expected its first-half net profit to fall 49% to approximately 27 billion yuan from a year earlier as it built fewer flats.
In the six months ended June 30, the Chinese developer's net profit from its core business is also likely to fall 45% to about 30 billion yuan from a year earlier, the company added.
The Hong Kong-listed developer noted that its contracted sales figure for the first half of 2019 is "comparable" to the same period in 2018.
It added in a filing that it expects to release its results for the review period in late August.
As of Aug. 9, US$1 was equivalent to 7.06 yuan.