Shimao Group recorded a loss of approximately RMB 22.7 billion for the six months ended June 30, 2024, and faced a borrowing pressure of approximately RMB 256.6 billion, of which approximately RMB 201.6 billion will mature within the next 12 months. The group is actively pursuing overseas debt restructuring and engaging in dialogues with creditors to resolve legal matters. During the period, Shimao Group sold and liquidated several subsidiaries, engaged in trades with non-controlling interests, resulting in a net cash inflow of approximately RMB 1.87 million and a net income of approximately RMB 0.32 million. In addition, Shimao Group made significant asset disposals after the reporting period, including the sale of all equity of a comprehensive residential, commercial, and mixed-use complex project company located in Jimei District, Xiamen City, for a transaction price of RMB 0.59634 billion.

Shimao Group recorded a loss of approximately RMB 22.7 billion for the six months ended June 30, 2024, and faced a borrowing pressure of approximately RMB 256.6 billion, of which approximately RMB 201.6 billion will mature within the next 12 months. The group is actively pursuing overseas debt restructuring and engaging in dialogues with creditors to resolve legal matters. During the period, Shimao Group sold and liquidated several subsidiaries, engaged in trades with non-controlling interests, resulting in a net cash inflow of approximately RMB 1.87 million and a net income of approximately RMB 0.32 million. In addition, Shimao Group made significant asset disposals after the reporting period, including the sale of all equity of a comprehensive residential, commercial, and mixed-use complex project company located in Jimei District, Xiamen City, for a transaction price of RMB 0.59634 billion.