Core Insights - The company reported a significant decline in contract signing and property sales, with a total contract amount of 6.054 billion yuan, down 30.17% year-on-year, and total property sales of 6.449 billion yuan, down 29.95% year-on-year [1] Financial Performance - For the first half of the year, the company achieved total operating revenue of 1.628 billion yuan, a decrease of 48.54% year-on-year, and a pre-tax loss of 1.457 billion yuan, a decrease of 4379.18% year-on-year [1] - The net profit for the same period was -1.855 billion yuan, down 98.12% year-on-year [1] Cash Flow and Debt Situation - The company is facing a cash flow crisis, with a net operating cash outflow of 3.679 billion Hong Kong dollars and total assets reduced to 53.329 billion Hong Kong dollars [1] - The net equity debt ratio has reached 63%, indicating increased financial leverage [1] Strategic Response - The company is working with advisors to develop a financial restructuring plan and is seeking to sell specific assets to raise funds [2] - In June, the company attempted to solicit consent from bondholders to avoid default on over 1.4 billion US dollars of priority notes [2] - A creditor group has issued a statutory demand for repayment, which could lead to further legal actions, including potential bankruptcy proceedings [2]