Yiju Enterprise Holdings (02048) announced interim results. The loss attributable to shareholders of 498 million yuan narrowed by 31.34% year-on-year

According to the Zhitong Finance App, Yiju Enterprise Holdings (02048) announced interim results for the six months ended June 30, 2024. The group obtained revenue of RMB 1,594 billion (same unit), a year-on-year decrease of 30.68%; losses attributable to the owners of the company were 498 million yuan, a year-on-year decrease of 31.34%; and a loss of 28.5 points per share.

In the first half of 2024, the Group's total sales revenue decreased by 30.7% year-on-year. Revenue from first-hand housing agency services decreased by 36.6% year on year; revenue from real estate data and consulting services decreased by 15.9% year on year; revenue from real estate brokerage network services decreased by 20.1% year on year; and revenue from digital marketing services decreased by 40.2% year on year.

In this challenging environment, the Group continued to focus on cost reduction and achieved a 34.6% year-on-year reduction in total net loss. Excluding headquarters expenses, financing costs, bad debt provisions, layoff related costs and other non-operating expenses, the Group's major business divisions achieved balance of income and expenditure or small operating profits in the first half of 2024.