Summary by Moomoo AI
China Aoyuan Group Co., Ltd. ( "China Aoyuan ") announced a profit forecast on August 14, 2024, expecting a net profit of about 21 billion to 23 billion yuan for the six months ending June 30, 2024, compared with a net loss of 2.9 billion yuan for the same period in 2023. This significant improvement was mainly due to the restructuring benefits from the company's overseas debt restructuring. However, if the restructuring benefits are excluded, the company still expects to record a loss, mainly due to the continued downturn in the industry operating environment, which led to a decrease in delivery volume, a decrease in sales property income, and an increase in financing costs. China Aoyuan pointed out that these data have not been audited or reviewed by auditors, and mid-term performance will be announced in late August 2024. The company reminds shareholders and potential investors to exercise caution when trading.
