HONG KONG -- China's property sector took another hit on Friday, as mainland developer Soho China disclosed a sharp fall in its profit and outlined its dire financial situation just hours after China Evergrande Group filed for bankruptcy protection in a New York court.

Soho China, a Hong Kong-listed midsize developer that focuses on commercial estates, reported a net profit of 13.61 million yuan ($1.89 million) for the first six months of the year, down 93% from a year earlier.