Summary by Futu AI
Kaisa Group Holdings Co., Ltd. announced the interim performance for the six months ended June 30, 2024, showing a 60% year-on-year decrease in total income to approximately RMB 542.86 million; a 75% decrease in gross profit to approximately RMB 74.43 million. The loss for the period increased by 36.3% to approximately RMB 899.39 million. Contract sales also decreased by 70.8% to approximately RMB 355.6 million. No interim dividend was declared during the period. The company stated that in the face of market challenges, it will continue to promote the speeding up and activation of core assets and the restructuring of domestic and overseas debts. It has also reached a restructuring support agreement with the creditors' group, marking a significant progress in overseas debt restructuring.