Summary by Moomoo AI
Cifi Hold GP announced the unaudited interim performance for the six months ended June 30, 2024, showing a decrease in revenue and gross profit compared to the same period last year, with a decrease of 35.5% and 45.4% respectively. The total loss for the period amounted to RMB 4,440,400,000, and the shareholder's equity should account for a net loss of RMB 4,939,400,000. The company is facing tight cash flow and pressure from debt maturity, and has taken a series of measures to improve its financial situation, including restructuring financing arrangements, consulting with financial institutions to renew and extend existing domestic bank loans, and accelerating property sales and collections. The board of directors believes that, based on the above plans and measures, the Group will have sufficient operating funds to fulfill its financial obligations for at least the next twelve months. However, the management has significant uncertainties about the achievement of its plans and measures.
