Summary by Moomoo AI
Sino-Ocean GP (SINO-OCEAN GP) announced the interim performance for the six months ending on June 30, 2024, showing a 49% year-on-year decrease in agreed sales, a 36% decrease in operating revenue, and a gross margin of 2%. The attributable loss to owners of the company decreased by 71% year-on-year, with a basic and diluted loss per share of RMB 0.707. The mid-year performance was affected by the continued downturn in the domestic real estate market, combined with policy measures introduced by the central government, indicating that market recovery will take time. The company is facing challenges such as reduced sales receipts, difficulties in asset disposal, and challenging refinancing. Looking ahead to the second half of the year, it is expected...Show More