China Aoyuan Group Co., Ltd. ("China Aoyuan") released its unaudited interim performance for the six months ended June 30, 2024. The report shows that the company recorded a total revenue of approximately 4.734 billion RMB during this period, a significant decrease from the approximately 10.941 billion RMB in the same period last year. The company experienced a gross loss of approximately 0.203 billion RMB, compared to a gross profit of approximately 0.742 billion RMB in the same period last year. During the period, the company recorded approximately 2.21 billion RMB in surplus, primarily due to the restructuring gains of approximately 2.664 billion RMB from the overseas debt restructuring. As of the end of the reporting period, the company's total bank and other borrowings, promissory notes, bonds, and...Show More

China Aoyuan Group Co., Ltd. ("China Aoyuan") released its unaudited interim performance for the six months ended June 30, 2024. The report shows that the company recorded a total revenue of approximately 4.734 billion RMB during this period, a significant decrease from the approximately 10.941 billion RMB in the same period last year. The company experienced a gross loss of approximately 0.203 billion RMB, compared to a gross profit of approximately 0.742 billion RMB in the same period last year. During the period, the company recorded approximately 2.21 billion RMB in surplus, primarily due to the restructuring gains of approximately 2.664 billion RMB from the overseas debt restructuring. As of the end of the reporting period, the company's total bank and other borrowings, promissory notes, bonds, and convertible bonds amounted to 76.205 billion RMB, of which 53.409 billion RMB will mature within the next twelve months. To address the challenges, the company has taken multiple measures to improve working capital and cash flow, including negotiating extensions with lending institutions, exploring asset sale opportunities, and integrating resources to reduce expenses. The board of directors believes that the company will have sufficient operating funds to meet its financial obligations. The board of directors has decided not to declare an interim dividend for the six months ended June 30, 2024.