Summary by Futu AI
Sunac Services announced its interim results on June 30, 2024, with group revenue of approximately 3.484 billion RMB, a year-on-year increase of approximately 3%; gross profit of approximately 0.888 billion RMB, a year-on-year increase of approximately 5%. However, the company's owners recorded a net loss of approximately 0.472 billion RMB, compared to a net profit of approximately 0.34 billion RMB in the same period last year. The core net profit of the company's owners is approximately 0.455 billion RMB, a year-on-year increase of approximately 4%. In addition, trade receivables from related parties decreased by approximately 0.099 billion RMB, and a further provision for impairment of approximately 0.73 billion RMB was made. The main business of the group is property management and operation services, community life services, and steady development in the China market. During the reporting period, Sunac Services continued to optimize its business structure, reduce reliance on related party businesses, and strengthen internal controls and risk management to enhance operational efficiency and financial stability.