Powerlong Real Estate Holdings Limited announced its interim report as of June 30, 2024, revealing financial pressures faced by the company, with a net loss of RMB 2,047 million and a net current liabilities of RMB 8,298 million. The company's current and non-current borrowings amounted to RMB 29,597 million and RMB 28,844 million respectively, while cash and cash equivalents stood at RMB 6,425 million. During the reporting period, the company failed to repay certain borrowings on time, leading to defaults involving an amount of RMB 15,968,925,000. The company has engaged in discussions with lenders for loan extensions and is seeking new financing channels. Additionally, on February 23, 2024, the company signed a restructuring support agreement with creditors to restructure its debts through an arrangement plan. As of July 18, 2024, approximately 88% of the creditors have signed the agreement. The board of directors decided not to declare a mid-year dividend for 2024.

Powerlong Real Estate Holdings Limited announced its interim report as of June 30, 2024, revealing financial pressures faced by the company, with a net loss of RMB 2,047 million and a net current liabilities of RMB 8,298 million. The company's current and non-current borrowings amounted to RMB 29,597 million and RMB 28,844 million respectively, while cash and cash equivalents stood at RMB 6,425 million. During the reporting period, the company failed to repay certain borrowings on time, leading to defaults involving an amount of RMB 15,968,925,000. The company has engaged in discussions with lenders for loan extensions and is seeking new financing channels. Additionally, on February 23, 2024, the company signed a restructuring support agreement with creditors to restructure its debts through an arrangement plan. As of July 18, 2024, approximately 88% of the creditors have signed the agreement. The board of directors decided not to declare a mid-year dividend for 2024.