Summary by Moomoo AI
According to the disclosure of hkex, r&f properties' half-year financial report for the period ending 30 June 2024 showed that the company's net borrowing capital ratio was 273.93%, a decrease from 290.67% in the same period of the previous year. During the reporting period, the company was sued by multiple parties for various reasons, involving lawsuits with amounts reaching several billion RMB are still ongoing. In addition, the company's wholly-owned subsidiaries Zhaoxi Co., Ltd. and r&f properties (Hong Kong) Co., Ltd. received winding-up petitions in July and August respectively, involving outstanding loan principal and interest. The company is negotiating solutions with US dollar bondholders and considering all possible actions, including formulating an overall debt management plan. The company has signed contracts but unpaid committed capital expenditures amount to approximately 1.629 billion yuan, to be paid while fulfilling contractual obligations with the other contracting party. The company's current non-recurring gains and losses are approximately 1.337 billion yuan.