Everg services Group Co.,Ltd. ("Evergrande Property") issued a profit warning on August 13,2024, forecasting that its unaudited comprehensive income for the six months ending on June 30, 2024 will slightly increase compared to the same period in 2023, but unaudited net profit is expected to decline by about 37%. The decline is mainly due to increased capital investment by the company to improve service quality, a legal litigation expense caused by the mandatory execution of a deposit pledge of RMB 13.4 billion by a bank, and confirmed bad debt losses and related tax arrears. Evergrande Property pointed out that the reduction in profit is mainly due to non-operating expenses and a more prudent revenue recognition method, rather than business operation. The company also expects its currency funds and net assets as of June 30, 2024 to increase. Evergrande Property reminds shareholders and potential investors that this is a preliminary evaluation, which has not been audited and the final data may be adjusted. The company will release unaudited interim performance announcements by the end of August 2024.

Everg services Group Co.,Ltd. ("Evergrande Property") issued a profit warning on August 13,2024, forecasting that its unaudited comprehensive income for the six months ending on June 30, 2024 will slightly increase compared to the same period in 2023, but unaudited net profit is expected to decline by about 37%. The decline is mainly due to increased capital investment by the company to improve service quality, a legal litigation expense caused by the mandatory execution of a deposit pledge of RMB 13.4 billion by a bank, and confirmed bad debt losses and related tax arrears. Evergrande Property pointed out that the reduction in profit is mainly due to non-operating expenses and a more prudent revenue recognition method, rather than business operation. The company also expects its currency funds and net assets as of June 30, 2024 to increase. Evergrande Property reminds shareholders and potential investors that this is a preliminary evaluation, which has not been audited and the final data may be adjusted. The company will release unaudited interim performance announcements by the end of August 2024.