Summary by Futu AI
In the first half of 2024, Sunac China faced a sluggish real estate market, with the government introducing multiple supportive policies to stabilize the market. The group actively implemented building delivery, asset revitalization, and debt risk resolution, with progress being made. Approximately 0.058 million housing units were completed for delivery in the first half of the year, with a target of over 0.17 million units in the second half. Revenue in the first half was approximately 34.28 billion Chinese yuan, with a gross loss of about 1.81 billion Chinese yuan, a decrease in losses of approximately 41.2% compared to the same period last year. Net assets are approximately 47.96 billion Chinese yuan, with sufficient land reserves. Sunac Services and culture tourism sectors are performing steadily, especially with the ice and snow sector growing by about 13%. Looking ahead, the group will continue to make every effort to ensure building delivery work, steadily advance debt risk resolution, and asset revitalization.
