Zhongliang Holdings Reports Sharp Mid-Year Losses

Zhongliang Holdings Group Company Limited (HK:2772) has released an update.

Zhongliang Holdings Group Company Limited reported a significant downturn in its interim financial results for the first half of 2024, with contracted sales plunging by 54.1% to RMB 9.66 billion, and revenue falling 21.3% to RMB 22.70 billion. The company also recorded a net loss of RMB 1.71 billion, a stark contrast to the modest net profit of RMB 18.6 million in the same period last year. Amidst this financial turbulence, Zhongliang’s total debt stood at RMB 21.41 billion with a net gearing ratio of 67.2%.

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