On August 21, Glonhui announced its mid-term performance. For the six months ended June 30, 2024, the group's revenue was approximately CNY 821 million, a decrease of approximately CNY 123 million (13.0%) compared to the same period in 2023. The revenue from the group's construction contracting business was approximately CNY 707 million, a decrease of approximately CNY 25 million (3.5%) compared to the same period in 2023. The revenue from the group's real estate development business was approximately CNY 114 million, a decrease of approximately CNY 98 million (46.1%) compared to the same period in 2023.
The group's gross profit and gross margin for the reporting period were approximately CNY 35 million and 4.3% respectively.
The group incurred a net loss of approximately CNY 28 million for the reporting period, compared to a net profit of approximately CNY 26 million in the same period of 2023.
As of June 30, 2024, the group's net debt-to-equity ratio was approximately 93.3% (as of December 31, 2023: 60.1%).
