

Core Viewpoint - Country Garden (碧桂园) reported a significant loss of approximately RMB 15.1 billion for the half-year period ending June 30, 2024, and anticipates a further loss of between RMB 18.5 billion to RMB 21.5 billion for the half-year period ending June 30, 2025, primarily due to a decline in the scale of real estate project settlements and low gross margins [1] Group 1 - The expected losses are attributed to increased asset impairments in property projects, influenced by changes in the industry, market, and operational environment [1] - The company has maintained stable operations by implementing a strict income and expenditure strategy, efficiently utilizing resources, and establishing a diversified dynamic mechanism to enhance operational management [1] - During the reporting period, the company and its joint ventures delivered approximately 74,000 housing units [1] Group 2 - The company is actively addressing debt risk by engaging with stakeholders to promote overall restructuring of offshore debt, reasonable extension of debt maturities, and moderate reduction of financing costs [1] - The company aims to gradually build a long-term and sustainable healthy capital structure through various proactive debt management measures [1] - The company will continue to focus on operational improvements by orderly adjusting organizational structure and resource allocation to ensure the achievement of strategic goals and accelerate the development of core capabilities suited to the new real estate model [1]