Summary by Moomoo AI
Sunac Services announced its interim performance for June 30, 2024, showing a group revenue of approximately 3.484 billion RMB, a year-on-year growth of about 3%; gross profit of approximately 0.888 billion RMB, a year-on-year growth of about 5%. However, the company's attributable loss was approximately 0.472 billion RMB, compared to a profit of approximately 0.34 billion RMB in the same period last year. The core net profit attributable to company owners is approximately 0.455 billion RMB, an increase of about 4% year-on-year. In addition, the trade receivables from related parties decreased by approximately 0.099 billion RMB, and a further provision of approximately 0.73 billion RMB for impairment was made. The main business of the group is property management and operation services, community life services, and steady development in the China market. During the reporting period, Sunac Services continued to optimize its business structure, reduce reliance on related party businesses, strengthen internal control and risk management to improve operational efficiency and financial stability.
