Jingrui Holdings Reports Struggling Sales and Mounting Losses

Jingrui Holdings Ltd. (HK:1862) has released an update.

Jingrui Holdings Ltd. reported a challenging first half of 2024, with contracted sales plummeting by 62.8% to RMB916.1 million and a significant net loss of RMB1,571.9 million. Despite achieving revenues of RMB2,466.3 million, the company’s gross profit margin stood at a modest 5.7%, while its net debt-to-capital ratio soared to 677%, reflecting financial strain. No interim dividend was declared, underscoring the company’s cautious stance amid the current financial difficulties.

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