Summary by Futu AI
kwg group ("the Company") announced its unaudited interim results for the six months ended June 30, 2024, showing a loss of approximately RMB 8,133,016,000 during the period, a decrease from RMB 9,928,935,000 in the same period last year. Revenue decreased by about 29.8% year-on-year, from approximately RMB 7,454,000,000 in 2023 to approximately RMB 5,234,000,000. Sales costs and other operating expenses also decreased. The Group stated that in response to a deep adjustment period in the real estate market, it has taken multiple measures to improve its financial situation, including negotiating loan renewal with financial institutions, seeking overseas debt restructuring solutions, accelerating property sales, and recovering receivables. The board of directors believes that considering the above plans and measures, the Group will have sufficient operating funds to provide funds for its operation and fulfill its financial responsibilities. However, the Group also cautions that there are significant uncertainties in achieving the above plans. The Company's board of directors has reviewed the interim results, published on August 28, 2024.