Sino-ocean group reported its interim performance on June 30, 2024, recording a net loss of approximately CNY 5.32 billion during the period, a decrease of 71% compared to the same period last year. The company is facing liquidity pressure and has started an overall restructuring of its overseas debt. The total amount of loans from Sino-ocean group is approximately CNY 96.67 billion, of which current loans amount to approximately CNY 58.71 billion, while cash and cash equivalents are only about CNY 1.71 billion. The company has received several requests, acceleration notices, and other legal documents regarding its overseas debt and has received a winding-up petition from the High Court of the Hong Kong Special Administrative Region on June 27, 2024. Sino-ocean group is actively communicating with creditors to seek various ways to resolve the litigation. The Board of Directors does not recommend the payment of interim dividends for the six months ending June 30, 2024.

Sino-ocean group reported its interim performance on June 30, 2024, recording a net loss of approximately CNY 5.32 billion during the period, a decrease of 71% compared to the same period last year. The company is facing liquidity pressure and has started an overall restructuring of its overseas debt. The total amount of loans from Sino-ocean group is approximately CNY 96.67 billion, of which current loans amount to approximately CNY 58.71 billion, while cash and cash equivalents are only about CNY 1.71 billion. The company has received several requests, acceleration notices, and other legal documents regarding its overseas debt and has received a winding-up petition from the High Court of the Hong Kong Special Administrative Region on June 27, 2024. Sino-ocean group is actively communicating with creditors to seek various ways to resolve the litigation. The Board of Directors does not recommend the payment of interim dividends for the six months ending June 30, 2024.