Summary by Futu AI
Sunac China announced its interim performance for the six months ended June 30, 2024 on June 30, 2024, showing that the group's revenue was approximately RMB 34.28 billion, a decrease of about 41.4% compared to the same period last year. The gross loss was about RMB 1.81 billion, a decrease of about 41.2% compared to the same period last year. The loss attributable to owners of the company was about RMB 14.96 billion, a decrease of about 2.7% compared to the same period last year. As of June 30, 2024, the group's cash balance was approximately RMB 25.68 billion, and the total borrowings were approximately RMB 277.43 billion. During this period, Sunac China completed several major investments, acquisitions, and sales, including the sale of a 70% stake and debt of a target company, the Shijiazhuang Central Business District project, and the Chongqing University City project. The board of directors does not recommend the payment of any interim dividends.