Summary by Moomoo AI
Sunac China announced its interim results for the six months ended June 30, 2024, showing that the group's revenue was approximately RMB 34.28 billion, a decrease of about 41.4% compared to the same period last year. The gross loss was approximately RMB 1.81 billion, a decrease of about 41.2% compared to the same period last year. The loss attributable to owners of the company was approximately RMB 14.96 billion, a decrease of about 2.7% compared to the same period last year. As of June 30, 2024, the group's cash balance was approximately RMB 25.68 billion and the total borrowings were approximately RMB 277.43 billion. During the period, Sunac China completed several major investments, acquisitions, and divestments, including the sale of a 70% equity interest and debt of a target company, Shijiazhuang Central Business District project, and Chongqing University Town project. The board of directors does not recommend the payment of any interim dividend.
