R&F Properties faced financial pressures in the first half of 2024 and was unable to pay the interest on its preferred notes, leading to multiple significant lawsuits. As of June 30, 2024, the company's total borrowing reached CNY 113.83 billion, with short-term borrowings of CNY 56.87 billion. The company has taken various measures to improve its financial situation, including discussing loan extensions with lenders, accelerating property sales, and selling non-core assets. However, due to market volatility and uncertainties regarding continued support, the success of these plans is highly uncertain. The company recorded a net loss of approximately CNY 2.331 billion in the first half of 2024, with total equity as of June 30, 2024, amounting to CNY 4.421 billion.

R&F Properties faced financial pressures in the first half of 2024 and was unable to pay the interest on its preferred notes, leading to multiple significant lawsuits. As of June 30, 2024, the company's total borrowing reached CNY 113.83 billion, with short-term borrowings of CNY 56.87 billion. The company has taken various measures to improve its financial situation, including discussing loan extensions with lenders, accelerating property sales, and selling non-core assets. However, due to market volatility and uncertainties regarding continued support, the success of these plans is highly uncertain. The company recorded a net loss of approximately CNY 2.331 billion in the first half of 2024, with total equity as of June 30, 2024, amounting to CNY 4.421 billion.