Among 50 mainland-listed property developers, 23 reported profit decline in 2015, said BeijingTimes on Tuesday.
Fifteen Chinese real estate companies projected a loss, accounting for nearly 30 percent of thedevelopers that have released their preliminary earnings report.
Among them, 13 property firms reported annual loss for the first time, said the newspaper citingdata from RoyalFlush Information. Shanghai-based developer China Enterprise Co said itexpects a loss of as much as 2.5 billion yuan ($380 million) in 2015.
Such growth headwind has been shared by some bigger players, as Poly Real Estate Group, thecountry's second-largest property developer by market value, on Friday reported its lowest profitincrease in 10 years.
The company's preliminary net profit amounted to 12.3 billion yuan last year, up by only 1.18percent year-on-year, it said in a filing to the Shanghai Stock Exchange.
China's real estate market took a downturn in 2014 after years of investment chasing. Growth ofproperty investment slowed to one percent in 2015, a sharp decrease from the 10.5-percentgrowth in 2014.
Analysts expected a modest pickup in property sales in 2015, in part helped by interest rate cutsand the lifting of home purchase restriction.