Huijing Holdings Co. Ltd. reported its interim results for the six months ended 30 June 2025. The Group recorded total revenue of approximately RMB136.1 million, an increase of about 297% compared to the same period in 2024. Contracted sales for the period, including those from joint ventures, were approximately RMB1.7 million, representing a decrease of about 97.7% year-on-year. The Group reported a net loss of approximately RMB240.9 million for the six-month period, compared to a net loss of approximately RMB228.1 million a year earlier. The increase in net loss was mainly attributed to a significant decrease in gross profit margin. Finance costs decreased to approximately RMB134.3 million from RMB149.4 million in the prior-year period, primarily due to lower borrowing balances. Income tax expenses rose to approximately RMB30.8 million from RMB1.7 million, mainly due to an increase in deferred income tax and higher land value-added tax provisions. The Group noted that the gradual stabilization of real estate policies in the PRC and proactive measures taken by the company contributed to the increase in revenue. The business continues to focus on its "one mainstay, one core, and two wings" blueprint, aiming to enhance core competitiveness and sustainable development capacity. The Group's liquidity needs remain primarily related to land acquisitions, property development, debt repayment, and tax clearance for completed projects.