Summary by Moomoo AI
Agile Group's interim performance for the six months ended June 30, 2024, showed a 5.7% increase in group revenue to CNY 21.137 billion compared to the same period last year. However, the loss for the period expanded to CNY 8.9 billion, a 146.5% increase from the loss of CNY 3.611 billion in the same period last year. The shareholders of the company share a loss of CNY 9.674 billion, with a basic loss per share of CNY 1.917. The expansion of the loss is mainly due to the decrease in average selling price of properties and the increase in losses from associate and joint venture companies. In addition, the group has engaged overseas financial advisors and legal advisors to facilitate constructive negotiations with overseas creditors, and to jointly prepare for an overall solution to the current overseas debt situation. The board of directors does not recommend the distribution of any interim dividends.
