Core Viewpoint - Evergrande Property (06666.HK) experienced a significant stock price increase of 38.04% upon resuming trading due to acquisition interest, but later adjusted to a 27.17% increase, with a trading volume of 636 million HKD [1] Group 1: Acquisition Interest - Reports indicate that the liquidators of China Evergrande have received non-binding acquisition interest for Evergrande Property from potential bidders, including China Overseas Group and a subsidiary of China Resources Group [1] - Representatives from China Resources Land and China Overseas Group have denied the authenticity of the acquisition interest news [1] - The liquidators have been seeking opportunities to sell shares held by China Evergrande and CEG Holdings, with some non-binding indicative offers received from interested parties [1][2] Group 2: Financial Performance - For the first half of the year, Evergrande Property reported revenue of approximately 6.647 billion CNY, reflecting a year-on-year growth of about 6.9%, and a net profit of approximately 491 million CNY, with a net profit margin of 7.4%, down by 0.6 percentage points year-on-year [3] - The company’s cash and cash equivalents stood at approximately 2.778 billion CNY as of June 30 [3] - As of June 30, the total managed area by Evergrande Property was approximately 596 million square meters, an increase of about 41 million square meters compared to the previous year [3] Group 3: Accounts Receivable and Management Services - Evergrande Property reported trade receivables valued at approximately 5.883 billion CNY, with cumulative bad debt provisions of about 3.042 billion CNY, resulting in a high impairment rate of 51.7% [3] - The company continues to provide property management services to China Evergrande, amounting to approximately 228 million CNY, without recognizing revenue from these transactions, while planning to take reasonable measures to recover receivables [3]