Baolong Real Estate Holdings Limited announced its interim results for the six months ended June 30, 2024, with contracted sales of approximately RMB 733.2 million and a sales area of approximately 690,941 square meters. Revenue was approximately RMB 1.5651 billion, an increase of approximately 27.3% compared to the same period last year. Rental income and income from commercial operation services and residential property management services amounted to approximately RMB 217.5 million, an increase of approximately 7.2% compared to the same period last year. However, the company's owners' share of core losses amounted to approximately RMB 193.7 million, turning from profit to loss. The fair value loss of investment properties amounted to approximately RMB 72.9 million, and sales and marketing costs and administrative expenses amounted to approximately RMB 90.1 million. As...Show More

Baolong Real Estate Holdings Limited announced its interim results for the six months ended June 30, 2024, with contracted sales of approximately RMB 733.2 million and a sales area of approximately 690,941 square meters. Revenue was approximately RMB 1.5651 billion, an increase of approximately 27.3% compared to the same period last year. Rental income and income from commercial operation services and residential property management services amounted to approximately RMB 217.5 million, an increase of approximately 7.2% compared to the same period last year. However, the company's owners' share of core losses amounted to approximately RMB 193.7 million, turning from profit to loss. The fair value loss of investment properties amounted to approximately RMB 72.9 million, and sales and marketing costs and administrative expenses amounted to approximately RMB 90.1 million. As of June 30, 2024, the company's net debt ratio was approximately 96.4%, and cash and cash equivalents, as well as restricted cash, amounted to approximately RMB 764 million. The company has not declared an interim dividend and signed a restructuring support agreement with creditors on February 23, 2024. As of July 18, 2024, approximately 88% of the creditors have signed the agreement, but the restructuring has not been effective yet.