香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致之任何損失承擔任何責任。 E-House (China) Enterprise Holdings Limited 易居（中國）企業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2048） 截至2025年6月30日止六個月的 中期業績公告 易居（中國）企業控股有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈 本公司、其附屬公司及併表聯屬實體（統稱「本集團」）於截至2025年6月30日止六 個月（「報告期間」）的未經審計綜合業績。本中期業績乃根據《國際會計準則》第 34號「中期財務報告」而編製。 本公告中，「我們」及「我們的」指本公司及在文義另有所指時指本集團。 中期業績摘要 1 • 於報告期間，總收入為人民幣1,261.4百萬元。 • 於報告期間，房地產代理服務交易總額（「GTV」）為人民幣172億元。 • 期內虧損為人民幣304.8百萬元，而報告期間內的期內全面開支總額為人民幣 305.4百萬元。 業務 ...

格隆汇8月18日丨易居企业控股(02048.HK)公布，董事会会议将于2025年8月28日(星期四)举行，藉以(其 中包括)考虑及批准集团截至2025年6月30日止六个月的中期业绩及其发布，并考虑派发中期股息(如 有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 E-House (China) Enterprise Holdings Limited 易居（中國）企業控股有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2048） 董事會會議日期 易居（中國）企業控股有限公司（「本公司」，連同其附屬公司及併表聯屬實體統稱 「本集團」）董事會（「董事會」）謹此公佈，董事會會議將於2025年8月28日（星期 四）舉行，藉以（其中包括）考慮及批准本集團截至2025年6月30日止六個月之中 期業績及其發佈，並考慮派發中期股息（如有）。 承董事會命 易居（中國）企業控股有限公司 主席 周忻 香港，2025年8月18日 於本公告日期，董事會包括主席兼執行董事周忻先生；執行董事黃燦浩先生、程 立瀾博士及丁祖昱博士；非執行董事梁興超先生、陳代平先生及袁莉女士；以及 獨立非執行董事張磅先生、朱洪超先生、王力群先生及李勁先生。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02048 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 5,000,000,000 | USD | | 0.00001 USD | | 50,000 | 本月底法定/註冊股本總額： USD 50,000 FF301 第 1 頁 共 10 頁 v 1.1.1 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 易 ...

Financial Performance - Total revenue for the Reporting Period amounted to RMB3,797.9 million[21] - Yearly loss amounted to RMB1,431.2 million, with total comprehensive expense for the year at RMB1,428.4 million[21] - Total sales revenue decreased by 14.6% year-on-year during the Reporting Period[15] - The Group achieved a 6.1% year-on-year reduction in total net loss[16] - Revenue decreased by 14.6% from RMB4,446.4 million in 2023 to RMB3,797.9 million in 2024, primarily due to a decline in revenue from real estate brokerage network services[26] - Revenue from real estate agency services in the primary market decreased by 21.3% from RMB219.6 million in 2023 to RMB172.8 million in 2024, attributed to the overall downturn in the real estate market[26] - Revenue from digital marketing services decreased by 8.4% from RMB2,272.5 million in 2023 to RMB2,081.5 million in 2024, mainly due to declines in e-commerce and online advertising revenues[28] - The company's loss for the year amounted to RMB1,431.2 million in 2024, compared to a loss of RMB1,524.8 million in 2023, indicating a reduction in losses[61] - Total comprehensive expense for the year was RMB1,428.4 million in 2024, down from RMB1,523.5 million in 2023[62] - Operating loss for the year ended December 31, 2024, was RMB530.3 million, a significant decrease from RMB1,027.3 million in 2023, resulting in an operating loss margin of 14.0% compared to 23.1% in the previous year[67] - EBITDA loss for the year ended December 31, 2024, was RMB814.0 million, slightly down from RMB814.1 million in 2023[68] Cost Management - The Group continues to focus on cost reduction and cash flow management[16] - Staff costs decreased by 43.1% from RMB1,093.2 million in 2023 to RMB622.0 million in 2024, with staff costs as a percentage of revenue dropping from 24.6% to 16.4%[29] - Advertising and promotion expenses decreased by 7.5% from RMB1,986.9 million in 2023 to RMB1,838.5 million in 2024, primarily due to cost reductions[30] - Consultancy expenses decreased by 23.6% from RMB198.9 million in 2023 to RMB152.0 million in 2024, reflecting a reduction in project consultation[41] - Other income decreased by 63.5% from RMB72.1 million in 2023 to RMB26.3 million in 2024, primarily due to a reduction in bank and other interest income[51] - Finance costs increased by 13.9% from RMB443.1 million in 2023 to RMB504.8 million in 2024, primarily due to interest on convertible borrowings[55] Industry Outlook - The outlook for the real estate industry in 2025 remains challenging, with a need for confidence recovery in demand[18] - Over 80% of the top 100 real estate developers recorded a year-on-year decrease in cumulative results[15] - The company is significantly impacted by fluctuations in the Chinese real estate market, which may adversely affect revenues and operational results[190] - A substantial portion of the company's revenue is generated from a concentrated number of real estate developers, posing a risk to revenue stability[190] Debt and Restructuring - The Group is actively working on a new restructuring proposal for its offshore debt[17] - The company's gearing ratio increased to 265.5% as of December 31, 2024, up from 145.8% as of December 31, 2023, primarily due to a decrease in total assets[79] - The company did not engage in any off-balance sheet transactions as of December 31, 2024[78] - The company has significant balances of trade receivables and customer deposits, increasing credit risks that could materially and adversely affect its results of operations[191] Leadership and Governance - Dr. Cheng Li-Lan has been appointed as the Chief Financial Officer since February 19, 2023, and has extensive experience in financial roles within the company and its affiliates[106] - Dr. Ding Zuyu is responsible for overseeing the management and strategic development of the Group, with a doctorate in economics obtained in December 2013[114] - The company has a strong leadership team with directors having significant experience in the real estate and financial sectors, enhancing its strategic capabilities[112] - The leadership team includes members with prestigious educational backgrounds, such as degrees from Swarthmore College and MIT, contributing to the company's strategic vision[111] - The company has established a strong presence in the market through strategic partnerships and directorships in various listed companies[118] Compliance and Risk Management - The company emphasizes compliance with relevant laws and regulations, as well as maintaining relationships with employees, discussed in the Environmental, Social and Governance Report[164] - Compliance with relevant laws and regulations has been maintained, which is crucial for the company's operations[188] - Certain subsidiaries are held through contractual arrangements, which may not be as effective as direct ownership and carry legal and operational risks[191] - The company's ability to enforce equity pledge agreements may be subject to limitations based on PRC laws and regulations[191] - Substantial uncertainties exist with the PRC foreign investment legal regime, which may significantly impact corporate structure and business operations[191] Employee and Operational Information - The total number of full-time employees as of December 31, 2024, was 1,770, primarily located in Shanghai and other cities in China[88] - The company aims to attract, retain, and motivate qualified personnel through performance-based cash bonuses and other incentives[89] - The remuneration expenses for the year ended December 31, 2024, reflect a significant reduction in costs compared to the previous year[89] Customer and Supplier Information - The company generated revenue of RMB962.6 million from its largest customer, Vanke, representing 25.3% of total revenue during the Reporting Period, an increase from 16.8% in the previous year[175] - Revenue from the second to fifth largest customers amounted to RMB271.8 million, RMB148.2 million, RMB109.1 million, and RMB70.3 million, representing 7.2%, 3.9%, 2.9%, and 1.9% of total revenue, respectively[175] - The largest supplier during the Reporting Period was a labor dispatch agency, with purchases amounting to RMB106.7 million, representing 2.44% of total purchases[181] Corporate Activities - The principal activity of the company is investment holding, with subsidiaries providing real estate transaction services in China, including primary market agency services and real estate data consulting[161] - The company was incorporated in the Cayman Islands on February 22, 2010, and its shares were listed on the Main Board of the Stock Exchange on July 20, 2018[160] - The company has not reported any significant foreign currency risks as its functional currency is Renminbi[90] - The company has not made any charitable donations during the reporting period (2023: nil)[196] - The company did not issue any debt securities during the reporting period[196]

Financial Performance - Total revenue for the year ended December 31, 2024, was RMB 3,797.9 million, a decrease of 14.6% compared to RMB 4,446.4 million in 2023[4][7] - The net loss for the year was RMB 1,431.2 million, a reduction of 6.1% compared to a net loss of RMB 1,524.8 million in the previous year[4][8] - Basic and diluted loss per share for the year was RMB 72.80, compared to RMB 70.88 in the previous year[8] - The company reported a net loss of approximately RMB 1,431,163,000 for the year ending December 31, 2024, and a net cash outflow from operating activities of approximately RMB 205,193,000[13] - The company reported a loss attributable to owners of RMB 1,273,302,000 in 2024, compared to a loss of RMB 1,239,749,000 in 2023, reflecting a slight increase in losses[40] - The company incurred a total pre-tax loss of RMB 1,532,642 thousand for the year, reflecting ongoing operational difficulties[30] Revenue Breakdown - The total Gross Transaction Value (GTV) for real estate agency services was RMB 15.9 billion, while the GTV for real estate brokerage network services was RMB 20.3 billion during the reporting period[4] - Revenue from primary real estate agency services decreased to RMB 172,771,000 in 2024 from RMB 219,624,000 in 2023, representing a decline of approximately 21.3%[17] - Revenue from real estate data and consulting services decreased to RMB 329,301,000 in 2024 from RMB 384,201,000 in 2023, a decline of approximately 14.3%[17] - Revenue from digital marketing services decreased to RMB 2,081,450,000 in 2024 from RMB 2,272,499,000 in 2023, a decline of approximately 8.4%[17] - The revenue from the real estate agency services segment was RMB 172,771 thousand, while the data and consulting services segment generated RMB 1,178,206 thousand, indicating a significant contribution to overall revenue[29] - The online advertising services generated revenue of RMB 2,081,450 thousand, contributing to the overall digital marketing services performance[29] Cost Management - Employee costs decreased to RMB 621.99 million from RMB 1,093.24 million in 2023, reflecting a significant reduction in operational expenses[7] - Total comprehensive expenses for the year amounted to RMB 1,428.4 million, down from RMB 1,523.5 million in 2023[8] - Total employee compensation expenses for the year ended December 31, 2024, amounted to RMB 622.0 million, a 43.1% decrease from RMB 1,093.2 million in 2023[73] - Marketing and promotional expenses decreased by 7.5% from RMB 1,986.9 million in 2023 to RMB 1,838.5 million in 2024, mainly due to reduced costs[46] - Depreciation and amortization expenses decreased by 25.1% from RMB 285.8 million in 2023 to RMB 213.9 million in 2024, primarily due to a reduction in amortization of intangible assets[48] Debt and Liquidity - The company is actively working on restructuring its offshore debt and has proposed a new plan to bondholders following the termination of a previous plan[5] - Cash and cash equivalents decreased to RMB 321.82 million from RMB 638.85 million in 2023, indicating a decline in liquidity[9] - The company's net current liabilities and net liabilities as of December 31, 2024, were approximately RMB 8,795,282,000 and RMB 7,990,311,000, respectively, indicating significant uncertainty regarding the company's ability to continue as a going concern[13] - The company is implementing multiple plans and measures to improve its liquidity and financial condition, as detailed in the financial statements[84] - The restructuring plan is still in its preliminary stages, and no new proposals have been provided to creditors for consideration[85] Operational Challenges - The company expects the real estate industry outlook to remain challenging in 2025, with a focus on cost control and cash flow management to maintain sustainable operations[6] - The company recorded an impairment loss on non-current assets of RMB 378.6 million in 2024, compared to RMB 40.8 million in 2023, mainly from the impairment of intangible assets[50] - The company reported a significant increase in the provision for expected credit losses, amounting to RMB 54,654 thousand, indicating a cautious approach to financial management[33] - The company has identified a contract liability of RMB 73,931,000 related to unfulfilled or partially fulfilled consulting service contracts as of December 31, 2024[20] - The company has a contract liability of RMB 61,400,000 related to unfulfilled or partially fulfilled e-commerce service contracts as of December 31, 2024[20] Future Outlook - The company is actively seeking opportunities to sell non-current assets to provide funding for operations[15] - The company continues to work closely with creditors and advisors on its offshore debt restructuring plan[15] - The management has not provided sufficient details regarding the cost reduction and cash flow plan, including timelines and cost-saving estimates[85] - If the company fails to implement the measures successfully, it may not be able to continue as a going concern, necessitating adjustments to asset valuations[86] Corporate Governance - The audited consolidated financial statements for the year ending December 31, 2024, have been verified by Zhonghui Anda, but no assurance has been provided on the preliminary announcement[87] - The audit committee has been established to review and supervise the financial reporting process and internal control systems[88] - No significant litigation or arbitration is pending against the company as of December 31, 2024[91] - The board has not recommended the payment of a final dividend for the year ending December 31, 2024[92] - The annual general meeting of shareholders is scheduled for June 10, 2025, with a suspension of share transfer registration from June 5 to June 10, 2025[93]

Revenue Performance - In the first half of 2024, the Group recorded a 30.7% year-on-year decrease in total sales revenue[10] - Revenues from primary market real estate agency services decreased by 36.6% year-on-year[10] - Revenues from real estate data and consulting services decreased by 15.9% year-on-year[10] - Revenues from real estate brokerage network services decreased by 20.1% year-on-year[10] - Revenues from digital marketing services decreased by 40.2% year-on-year[10] - Total revenue decreased by 30.7% to RMB1,594.1 million for the six months ended June 30, 2024, compared to RMB2,299.5 million for the same period in 2023[17] - Revenue from real estate agency services in the primary market fell by 36.6% to RMB81.6 million, primarily due to a decline in GTV caused by the overall downturn in the real estate market[19] - Revenue from digital marketing services decreased by 40.2% to RMB687.4 million, mainly due to a drop in revenues from e-commerce and online advertising services[20] - For the six months ended June 30, 2024, the Group's total revenue was RMB 1,594,117,000, a decrease from RMB 2,299,491,000 in the same period of 2023, representing a decline of approximately 30.6%[160] Financial Losses and Expenses - The Group achieved a 34.6% year-on-year decrease in total net loss[11] - Loss for the period was RMB564.9 million, with total comprehensive expense amounting to RMB565.1 million[16] - Loss for the period amounted to RMB564.9 million for the six months ended June 30, 2024, compared to a loss of RMB864.0 million for the six months ended June 30, 2023[52] - Total comprehensive expense for the period amounted to RMB565.1 million for the six months ended June 30, 2024, compared to RMB863.0 million for the same period in 2023[53] - Operating loss was RMB300.7 million for the six months ended June 30, 2024, compared to RMB540.0 million for the six months ended June 30, 2023, with an operating loss margin of 18.9% for the former period and 23.5% for the latter[54] - EBITDA loss was RMB189.7 million for the six months ended June 30, 2024, compared to RMB511.5 million for the six months ended June 30, 2023[54] - The Group incurred a loss of approximately RMB564,908,000 for the six months ended 30 June 2024[140] - The company reported a net loss attributable to owners of the Company of RMB 5,027,872 for the period, compared to a loss of RMB 5,907,549 in the previous period, representing an improvement of approximately 16%[147] Cost Management and Operational Efficiency - Each of the Group's main business units achieved break even or slight operating profit in the first half of 2024, excluding certain expenses[11] - The Group continues to focus on cost reduction amid a challenging real estate market[11] - Staff costs decreased by 42.5% to RMB357.5 million, with staff costs as a percentage of revenue dropping from 27.1% to 22.4%[21] - Advertising and promotion expenses decreased by 45.1% to RMB551.0 million, primarily due to cost reduction[27] - Distribution expenses decreased by 18.5% from RMB749.7 million for the six months ended 30 June 2023 to RMB610.8 million for the six months ended 30 June 2024, primarily due to the decrease in revenue from real estate brokerage network services[39] - Other operating costs decreased by 26.3% from RMB182.0 million for the six months ended 30 June 2023 to RMB134.1 million for the six months ended 30 June 2024, primarily due to the Company's reduction of cost[40] - The Group has implemented cost-saving measures to improve its operating cash flows and financial position[152] Debt Restructuring and Financial Position - The Group is actively working on restructuring its offshore debt with creditors and advisors[9] - The company is actively working on a new restructuring proposal for its offshore debt and will update creditors as soon as possible[12] - The directors are undertaking measures to improve liquidity and financial position, including debt restructuring and disposal of investment properties[141] - The Group is negotiating with creditors for debt restructuring to improve its financial position[152] - The Group is seeking opportunities to dispose of its investment properties as part of its financial recovery strategy[152] - The auditor's report indicates significant uncertainties regarding the Group's ability to continue as a going concern[141] Shareholder Information and Corporate Governance - The Board did not recommend the payment of an interim dividend for the six months ended 30 June 2024[99] - The Company has adopted and complied with all applicable code provisions of the Corporate Governance Code, except for the segregation of the roles of chairman and chief executive officer[87] - The Company was not involved in any material litigation or arbitration as of 30 June 2024[98] - The Company did not declare any dividends for the six months ended June 30, 2024, and 2023[182] Asset and Liability Management - Cash and cash equivalents decreased from RMB638.8 million as of 31 December 2023 to RMB312.9 million as of 30 June 2024[58] - The Group had net current liabilities of approximately RMB8,768,917,000 as of 30 June 2024[141] - The Group's total net liabilities amounted to approximately RMB7,127,054,000[140] - Total liabilities due to related parties increased to RMB 197,544,000 as of June 30, 2024, from RMB 171,355,000 as of December 31, 2023, marking a rise of 15.3%[193] - The Group's cash flows from operating activities decreased significantly compared to the previous year, reflecting ongoing operational challenges[150] Credit Risk and Receivables - A significant amount of Trade Related Balances from certain property developer customers has become overdue, indicating increased credit risk at the end of the reporting period[158] - The company continues to monitor and manage credit risk associated with accounts receivables to mitigate potential losses[200] - The loss allowance for accounts receivables and bills receivables measured at amortised cost increased slightly to RMB 538,044,000 from RMB 536,944,000[187] Market Conditions and Future Outlook - The real estate industry in China remains depressed due to poor buyer sentiment and decelerating economic growth[10] - The company expects to continue facing a challenging operating environment in the second half of 2024, focusing on cost control and cash flow to maintain sustainable operations[14] - The company anticipates higher revenue from real estate agency services in the second half of the financial year due to seasonal marketing activities by property developers[165]

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 1,594.1 million, a decrease of 30.7% year-on-year[1]. - The group’s total revenue for the six months ended June 30, 2024, is RMB 1,594,117,000, a decrease from RMB 2,299,491,000 in the same period of 2023, representing a decline of approximately 30.6%[17]. - Revenue from first-hand property agency services decreased by 36.6%, while revenue from real estate data and consulting services decreased by 15.9%[2]. - Revenue from primary property agency services decreased to RMB 81,603,000 for the six months ended June 30, 2024, down from RMB 128,741,000 in the previous year, reflecting a decline of about 36.6%[19]. - Revenue from real estate data and consulting services totaled RMB 186,710,000, down from RMB 222,043,000, indicating a decrease of approximately 15.9%[19]. - The digital marketing services segment generated revenue of RMB 687,391,000, a significant drop from RMB 1,150,154,000, representing a decline of around 40.4%[19]. - The company reported a net loss of approximately RMB 564.91 million for the six months ending June 30, 2024[12]. - The net loss for the six months ended June 30, 2024, was RMB 564.9 million, an improvement from a net loss of RMB 864.0 million for the same period in 2023[48]. - The group reported a pre-tax loss of RMB 892,218,000 for the six months ended June 30, 2024, compared to a loss of RMB 377,330,000 in the same period of 2023[20]. - Total comprehensive expenses for the six months ended June 30, 2024, were RMB 565.1 million, a decrease from RMB 863.0 million for the same period in 2023[49]. Cost Management - The company achieved a reduction in net loss by 34.6% year-on-year through cost control measures[2]. - The company will continue to focus on cost control and cash flow management to maintain sustainable operations[2]. - Employee costs reduced by 42.5% from RMB 622.2 million for the six months ended June 30, 2023, to RMB 357.5 million for the six months ended June 30, 2024, with employee costs as a percentage of revenue decreasing from 27.1% to 22.4%[35]. - Marketing and promotional expenses decreased by 45.1% from RMB 1,003.3 million for the six months ended June 30, 2023, to RMB 551.0 million for the six months ended June 30, 2024, mainly due to a reduction in costs[36]. - Distribution expenses decreased by 18.5% from RMB 749.7 million for the six months ended June 30, 2023, to RMB 610.8 million for the six months ended June 30, 2024, mainly due to a reduction in revenue from real estate brokerage network services[42]. - Other operating costs decreased by 26.3% from RMB 182.0 million for the six months ended June 30, 2023, to RMB 134.1 million for the six months ended June 30, 2024, primarily due to a reduction in company costs[43]. - Total depreciation and amortization expenses for the six months ended June 30, 2024, amounted to RMB 124,583 thousand, down from RMB 146,401 thousand in the same period of 2023[26]. Debt and Financial Position - The company is actively working on restructuring its offshore debt and plans to propose a new plan to bondholders[2]. - The company is negotiating debt restructuring with creditors to improve its financial situation[12]. - The company is seeking opportunities to sell its investment properties as part of its financial recovery strategy[12]. - As of June 30, 2024, total current liabilities amounted to RMB 9.9 billion, a slight decrease from RMB 9.9 billion as of December 31, 2023[6]. - As of June 30, 2024, the company's net current liabilities amounted to approximately RMB 8.77 billion[9]. - Total liabilities net of current liabilities were approximately RMB 6.51 billion[9]. - The company's total equity attributable to owners was approximately RMB 7.05 billion[9]. - The capital debt ratio as of June 30, 2024, was 173.8%, up from 145.8% as of December 31, 2023, primarily due to a decrease in total assets[52]. - The company reported a loss of approximately RMB 564,908,000 for the six months ended June 30, 2024, with a net cash outflow from operating activities of approximately RMB 118,107,000[60]. Credit Risk and Provisions - The group identified significant increases in credit risk for several real estate developer clients, leading to substantial expected credit loss provisions during the reporting period[16]. - The group has recognized substantial expected credit losses due to overdue trade receivables from real estate developers, which may further impact revenue recognition[16]. - The total provision for expected credit losses increased from RMB 6,324,754,000 as of December 31, 2023, to RMB 6,341,761,000 as of June 30, 2024[16]. - Provision for expected credit losses decreased by 16.7% from RMB 33.1 million for the six months ended June 30, 2023, to RMB 27.6 million for the six months ended June 30, 2024, primarily due to a decrease in receivables[39]. - The group continues to assess expected credit losses with the assistance of an independent professional valuation firm, especially when significant changes in client credit quality occur[15]. Corporate Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for the separation of the roles of Chairman and CEO[57]. - The audit committee has reviewed the unaudited interim results for the six months ended June 30, 2024, and discussed accounting policies and internal controls with senior management[61]. - The company has established a nomination committee and a remuneration committee in addition to the audit committee[62]. - The company will continue to review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[57]. Other Financial Metrics - The company recorded bank and other interest income of RMB 1,989 thousand for the six months ended June 30, 2024, a significant decrease from RMB 5,760 thousand in the same period of 2023[23]. - Government subsidies received decreased to RMB 1,420 thousand for the six months ended June 30, 2024, compared to RMB 14,058 thousand for the same period in 2023[23]. - The company reported a net foreign exchange loss of RMB 25,376 thousand for the six months ended June 30, 2024, compared to a loss of RMB 147,402 thousand in the same period of 2023[25]. - The company’s deferred tax expense/credit for the six months ended June 30, 2024, was RMB 144,839 thousand, compared to a credit of RMB (16,341) thousand in the same period of 2023[24]. - The company’s impairment loss on intangible assets was RMB 39,775 thousand for the six months ended June 30, 2024, with no impairment loss reported in the same period of 2023[26]. - The company recorded an impairment loss on non-current assets of RMB 39.8 million for the six months ended June 30, 2024, compared to no impairment loss for the same period in 2023[40]. - The company did not declare any dividends for the six months ended June 30, 2024, and 2023[25]. - The company has no off-balance-sheet transactions as of June 30, 2024[52]. - The company faces foreign currency risk but currently has no hedging policy in place[55]. - The company had no significant investments or acquisitions during the reporting period[54]. - The interim results announcement has been published on the Hong Kong Stock Exchange website and the company's website[63].

Financial Performance - Total revenue for the six months ended June 30, 2024, was RMB 1,594.1 million, a decrease of 30.7% year-on-year[1][2] - The net loss for the period was RMB 564.9 million, with total comprehensive expenses amounting to RMB 565.1 million[1][3] - The company achieved a 34.6% reduction in net loss compared to the previous year, focusing on cost control[2] - The group reported a pre-tax loss of RMB 565,918,000 for the six months ended June 30, 2024[18] - The net loss for the six months ended June 30, 2024, was RMB 564.9 million, an improvement from a net loss of RMB 864.0 million for the same period in 2023[48] - The company reported a loss of RMB 498,416 thousand for the six months ended June 30, 2024, compared to a loss of RMB 725,885 thousand for the same period in 2023, indicating a reduction in losses[27] Revenue Breakdown - The total Gross Transaction Value (GTV) for real estate agency services was RMB 8.1 billion, while the GTV for real estate brokerage network services was RMB 9.2 billion[1] - Revenue from first-hand property agency services decreased by 36.6%, while revenue from real estate data and consulting services decreased by 15.9%[2] - Revenue from primary property agency services was RMB 81,603,000, down 36.6% from RMB 128,741,000 in the previous year[17] - Revenue from real estate data and consulting services totaled RMB 186,710,000, a decline of 16.0% from RMB 222,043,000 in the prior year[17] - The digital marketing services segment generated revenue of RMB 687,391,000, a decrease of 40.3% compared to RMB 1,150,154,000 in the same period last year[17] - Revenue decreased by 30.7% from RMB 2,299.5 million for the six months ended June 30, 2023, to RMB 1,594.1 million for the six months ended June 30, 2024, primarily due to a decline in digital marketing services revenue[34] Expenses and Cost Management - Total comprehensive expenses for the period were RMB 565.1 million, down from RMB 862.9 million in the previous year[3][5] - Employee costs reduced by 42.5% from RMB 622.2 million for the six months ended June 30, 2023, to RMB 357.5 million for the six months ended June 30, 2024, with employee costs as a percentage of revenue decreasing from 27.1% to 22.4%[35] - Marketing and promotional expenses decreased by 45.1% from RMB 1,003.3 million for the six months ended June 30, 2023, to RMB 551.0 million for the six months ended June 30, 2024, mainly due to reduced costs[36] - Distribution expenses decreased by 18.5% from RMB 749.7 million for the six months ended June 30, 2023, to RMB 610.8 million for the six months ended June 30, 2024, mainly due to reduced revenue from real estate brokerage network services[42] - Other operating costs decreased by 26.3% from RMB 182.0 million for the six months ended June 30, 2023, to RMB 134.1 million for the six months ended June 30, 2024, primarily due to a reduction in company costs[43] - Total depreciation and amortization expenses for the six months ended June 30, 2024, amounted to RMB 124,583 thousand, down from RMB 146,401 thousand in the same period of 2023, reflecting a decrease of approximately 14.9%[26] Financial Position and Liabilities - Current liabilities totaled RMB 9.9 billion as of June 30, 2024, compared to RMB 9.9 billion as of December 31, 2023[6] - As of June 30, 2024, the company's net current liabilities amounted to approximately RMB 8.77 billion[9] - Total liabilities net of current liabilities were approximately RMB 6.51 billion[9] - The company's total equity attributable to owners was approximately RMB 7.05 billion[9] - The capital debt ratio as of June 30, 2024, was 173.8%, up from 145.8% as of December 31, 2023, primarily due to a decrease in total assets[52] Cash Flow and Liquidity - The net cash outflow from operating activities was approximately RMB 118.11 million during the same period[12] - Cash and cash equivalents as of June 30, 2024, were RMB 312.9 million, down from RMB 638.8 million as of December 31, 2023[52] - The company is taking measures to improve its liquidity and financial position, including debt restructuring and asset sales[60] Debt Restructuring and Financial Strategy - The company is actively working on restructuring its offshore debt and plans to propose a new plan to bondholders[2] - The company is negotiating debt restructuring with creditors to improve its financial situation[12] - The company aims to maintain sustainable operations through effective cost control and debt restructuring[2] - The company is seeking opportunities to sell its investment properties as part of its financial recovery strategy[12] Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for the separation of the roles of Chairman and CEO[57] - The audit committee has reviewed the unaudited interim results for the six months ending June 30, 2024, and discussed accounting policies and internal controls with senior management[61] - The company has established a nomination committee and a remuneration committee in addition to the audit committee[62] - The company will continue to regularly review and monitor its corporate governance practices to ensure compliance with the Corporate Governance Code[57] Accounting Standards and Reporting - The company has adopted all new and revised International Financial Reporting Standards effective from January 1, 2024, with no significant impact on its financial statements[13] - The company continues to assess the impact of new accounting standards that have been issued but are not yet effective[13] - The interim financial information has been prepared on a going concern basis, subject to uncertainties regarding the success of various financial measures[60]

Revenue Performance - Revenue from real estate brokerage network services decreased by 4.2% from RMB1,576.6 million in 2022 to RMB1,510.4 million in 2023 due to a downturn in the real estate market[9] - Revenue from real estate data and consulting services decreased by 20.7% from RMB559.8 million in 2022 to RMB443.9 million in 2023, primarily due to a decline in rating and ranking services[9] - The largest customer, Vanke, contributed RMB744.8 million in revenue for the year, accounting for 16.8% of total revenue, up from 9.0% in 2022[46] - The company primarily derives revenue from real estate developers in China, with significant contributions from banks, investors, and government entities utilizing its real estate data and consulting services[49] Expenses and Costs - Distribution expenses decreased by 2.3% from RMB1,465.9 million in 2022 to RMB1,432.6 million in 2023, mainly due to reduced revenue from brokerage services[11] - Financing costs decreased by 6.1% from RMB471.8 million in 2022 to RMB443.1 million in 2023, attributed to a decrease in the weighted average balance of interest-bearing loans[12] Shareholder Information - Mr. Zhou Xin holds a controlling interest of approximately 65.28% in the company, with 2,511,944,934 shares[89] - Mr. Hui Ka Yan holds a controlling interest with 171,690,000 shares, representing approximately 9.816% of the total shares[95] - The total number of shares issued was 1,749,059,530 as of December 31, 2023[95] - The total number of shares held by major shareholders includes 228,920,000 shares (13.088%) by China Real Estate Information Group and 375,838,440 shares (21.488%) by E-House (China) Holdings[124] - Alibaba Holdings owns 245,096,197 shares (14.013%) and Taobao China Holding Limited holds 145,588,000 shares (8.324%)[124] Corporate Governance and Compliance - As of December 31, 2023, the company had no significant litigation or arbitration pending[67] - The company did not declare any reserves for the year ended December 31, 2023, consistent with the previous year[68] - The company did not issue any debentures during the reporting period[72] - There were no significant interests disclosed by the controlling shareholders or directors that could constitute competition with the company's business[117] - The company did not have any arrangements enabling directors to acquire benefits through share acquisitions during the year[118] Future Plans and Financial Strategy - The company plans to utilize internally generated cash, external borrowings, and funds raised from capital markets to meet future working capital needs[14] - The company has undertaken to procure subscriptions for 478,336,198 rights shares and agreed to underwrite up to 1,620,535,237 rights shares as part of a rights issue announced on June 19, 2023[89] - The company has committed to subscribe for 478,336,198 shares under a rights issue announced on June 19, 2023, with a maximum commitment to purchase up to 1,620,535,237 shares[120] Share Option Schemes - The company has two existing share schemes: the Pre-IPO Share Option Scheme and the Post-IPO Share Option Scheme, complying with Chapter 17 regulations effective from January 1, 2023[133] - The Pre-IPO Share Option Scheme allows for the issuance of up to 91,568,000 shares upon exercise of options[165] - The Group's total number of shares that may be issued upon exercise of all options under the Post-IPO Share Option Scheme is 146,743,600, which is no more than 10% of the shares in issue on the Listing Date[180] - The exercise price for options granted under the Pre-IPO Share Option Scheme is set at HK$10.37[172] Environmental, Social, and Governance (ESG) - The environmental, social, and governance performance of the Group is discussed in the relevant report, highlighting compliance with laws and employee relations[184]