Summary by Moomoo AI
In the first half of 2024, yuexiu property faced multiple economic challenges, including inflation, high interest rates, and geopolitical factors, but china's economy overall remained stable. The real estate market rebounded under policy support but is still undergoing adjustments. Yuexiu property achieved revenue of approximately 35.34 billion yuan in the first half of the year, up 10.1% year-on-year. The gross margin was around 13.7%, a decrease of 4.1 percentage points year-on-year. Profit attributable to equity holders was approximately 1.83 billion yuan, down 15.9% year-on-year. Core net profit was about 1.74 billion yuan, down 18.8% year-on-year. The contracted sales yet to be recognized amounted to 190.91 billion yuan, a decrease of 4.2% from the beginning of the year. The board of directors declared...Show More