HK Stock Market Move | R&F PROPERTIES (02777) falls nearly 6%, with a year-on-year decrease of 53.32% in sales revenue for the first eight months. The company's overdue debt exceeds 27.6 billion yuan.

R&F PROPERTIES (02777) fell nearly 6%, as of the time of writing, it dropped 5.8% to HK$0.65, with a trading volume of HK$1.5825 million. In terms of news, R&F PROPERTIES announced that the group's total sales revenue in August 2024 was approximately RMB 730 million, with a sales area of approximately 67,900 square meters. As of the end of August 2024, the total sales revenue was approximately RMB 7.11 billion, a year-on-year decrease of 53.32%; the sales area reached approximately 531,500 square meters. In addition, on September 11, R&F PROPERTIES disclosed that as of June 30, 2024, there were interest-bearing debts exceeding RMB 10 million within the scope of the company's consolidated financial statements. The overdue balance of bank loans was RMB 8.454 billion, the overdue balance of non-bank financial institution loans (trusts, financing leasing companies, etc.) was RMB 12.588 billion, and the overdue balance of other interest-bearing debts was RMB 6.57 billion, all of which were overdue in principal and interest and had not been repaid.