Financial Performance - The company's operating revenue for Q1 2025 was CNY 1,195,587, a decrease of 30.64% compared to CNY 1,723,183 in the same period last year[6] - Net profit attributable to shareholders for the same period was CNY 294,942, a significant decline from CNY 888,760 in the previous year[6] - The net cash flow from operating activities was negative CNY 21,458, indicating a decrease from positive CNY 308,131 in the previous year[6] - Basic and diluted earnings per share were both CNY -0.09, down from CNY -0.05 in the previous year[6] - The total comprehensive income attributable to the parent company for Q1 2025 was -294,942,888 RMB, compared to -173,760,528 RMB in Q1 2024[38] - The net profit for Q1 2025 was -312,347,004 RMB, compared to -223,170,760 RMB in Q1 2024, indicating a deeper loss year-over-year[35] - The operating profit for the period was -296,549,610 RMB, worsening from -171,656,846 RMB in the previous year[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 47,303,151, a decrease of 3.15% from CNY 48,841,884 at the end of the previous year[8] - Total liabilities as of March 31, 2025, were CNY 35,848,687,672, compared to CNY 37,074,445,175 as of December 31, 2024[28] - Total current liabilities were reported at 16,347,157,710 RMB as of March 31, 2025, an increase from 13,963,410,640 RMB at the end of December 2024, indicating a rise of about 17%[48] - The total assets as of March 31, 2025, were CNY 47,303,151,514, compared to CNY 48,841,884,791 as of December 31, 2024[30] - Current liabilities totaled CNY 18,940,982,161 as of March 31, 2025, an increase from CNY 16,251,327,379 as of December 31, 2024[27] Shareholder Information - Equity attributable to shareholders was CNY 9,404,199, a decrease of 3.04% from CNY 9,699,142 at the end of the previous year[8] - The largest shareholder, Beijing Beichen Industrial Group Co., Ltd., holds 1,174,169,731 shares, representing 34.87% of the total shares[15] - The second largest shareholder, HKSCC Nominees Limited, holds 691,318,399 shares, accounting for 20.53% of the total shares[15] Revenue and Sales - The company achieved a sales area of 91,300 square meters, a year-on-year increase of 101.10%[23] - The sales amount reached RMB 1.053 billion, reflecting a year-on-year increase of 63.51%[23] - The company's operating revenue for Q1 2025 reached RMB 453,589,667, an increase from RMB 394,916,593 in Q1 2024, representing a growth of approximately 14.8%[52] - Operating profit for Q1 2025 was RMB 120,927,923, compared to RMB 84,962,738 in Q1 2024, indicating a year-over-year increase of about 42.3%[53] - Net profit for Q1 2025 was RMB 90,433,586, up from RMB 64,066,759 in Q1 2024, reflecting a growth of approximately 41.2%[54] Cash Flow - Cash inflow from investment activities totaled 27,596,268 RMB in Q1 2025, down from 33,550,397 RMB in Q1 2024[44] - The company reported a significant increase in cash received from sales of goods and services, amounting to 1,592,123,152 RMB in Q1 2025, compared to 1,144,473,545 RMB in Q1 2024[42] - The company incurred operating expenses of 1,795,039,110 RMB in Q1 2025, slightly lower than 1,921,272,502 RMB in Q1 2024[43] - The ending cash and cash equivalents balance decreased to RMB 4,629,097,525 from RMB 5,653,976,506 in Q1 2024, reflecting a decline of 18.1%[61] Research and Development - Research and development expenses for Q1 2025 amounted to CNY 1,441,180, while there were no R&D expenses reported in Q1 2024[33] - Research and development expenses for Q1 2025 were RMB 131,812,923, compared to RMB 141,492,441 in Q1 2024, showing a decrease of about 6.8%[52] Future Plans - The company plans to expand its market presence and invest in new product development to drive future growth[51] - The company aims to enhance its operational efficiency and explore potential mergers and acquisitions to strengthen its market position[51]

Financial Performance - The company reported a revenue of RMB 7,152,407 thousand for the year ended December 31, 2024, representing a 54.59% decrease compared to RMB 15,751,478 thousand in 2023[4]. - The pre-tax loss was RMB 3,249,183 thousand, compared to a profit of RMB 1,076,351 thousand in the previous year[4]. - The company reported a net loss attributable to ordinary shareholders of RMB 2,992,483 thousand for 2024, compared to a profit of RMB 140,407 thousand in 2023[4]. - The company achieved operating revenue of RMB 715,240.7 million in 2024, a year-on-year decrease of 54.59%, primarily due to reduced income from the real estate development segment[84]. - The pre-tax loss amounted to RMB 324,918.3 million, with a core operating loss (excluding fair value changes) of RMB 256,287.0 million[84]. Assets and Liabilities - The total assets decreased to RMB 57,619,449 thousand in 2024 from RMB 65,155,827 thousand in 2023, a decline of approximately 11.8%[4]. - The total liabilities also decreased to RMB 39,268,837 thousand in 2024 from RMB 42,927,967 thousand in 2023, a reduction of about 8.5%[4]. - The total financing amount at the end of the period was RMB 2,390,768 million, with an overall average financing cost of 4.07%[82]. Business Strategy and Development - The company aims to enhance its core business and digital transformation while focusing on the exhibition and real estate sectors for future growth[13]. - The company is committed to exploring new transformation paths in real estate development amidst ongoing industry adjustments[13]. - The company is actively innovating its development model by promoting the integration of "exhibition + real estate" projects in response to current industry trends[25]. - The company plans to focus on the "high quality" and "large service" model in real estate development, transitioning towards composite real estate development[93]. - The company will strengthen the integration of various business segments, particularly in the exhibition and commercial property sectors, to drive growth and efficiency[87]. Market and Industry Trends - The real estate market saw a total sales area of 814.5 million square meters in 2024, a year-on-year decrease of 14.1%, with sales revenue of RMB 848.64 billion, down 17.6% year-on-year[25]. - The hotel industry is facing challenges with declining occupancy rates and average room prices due to weakened domestic business demand and intense price competition[24]. - The company anticipates broader development opportunities in the exhibition, hotel, and commercial property sectors due to supportive government policies and market demand[85]. Operational Highlights - The company hosted 2,243 events in its self-owned venues and hotels, a year-on-year increase of approximately 1.9%, with major events totaling 71 and attracting 5.8625 million attendees, up 20.6% year-on-year[27]. - The company achieved a significant breakthrough in the market-oriented operation of the 2024 Service Trade Fair, with participation from 85 countries and international organizations, over 8,000 enterprises, and a total audience of 258,000, marking a 20% increase in professional attendees compared to the previous year[32]. - The company successfully organized over 40 major events, enhancing its brand influence and recognition in the industry[27]. Corporate Governance - The company is committed to maintaining high corporate governance standards and has complied with all relevant regulations[102]. - The board of directors held 36 meetings in 2024, ensuring effective oversight and strategic direction for the company[106]. - The company conducts annual reviews of director remuneration policies to attract and retain high-quality talent[123]. - The board consists of at least one-third independent non-executive directors, ensuring independent viewpoints and opinions[117]. Human Resources and Talent Management - The company is actively addressing talent shortages by implementing various recruitment and training programs to build a high-quality talent pool[101]. - The gender ratio of the board members in 2024 is 7:2, while the employee gender ratio is 5:4, indicating a commitment to gender diversity[126]. - The company plans to enhance gender diversity in the board by considering it as a factor in future recruitment of board and senior management candidates[126]. Financial Management and Investments - The company has established a dividend policy to enhance transparency and operational effectiveness in profit distribution, which is available on its website[150]. - The company plans to invest RMB 145 million in fixed assets by 2025, funded by internal resources[97]. - The company has ongoing projects in various regions, including residential and commercial developments in Hebei, Anhui, Chongqing, Hainan, and Guangdong[74]. Risk Management - The company is facing market risks due to ongoing adjustments in the real estate market, which may affect sales collection efficiency[100]. - The board of directors believes that the risk management and internal control systems were effective and sufficient during the reporting period[147].

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 7,152,407,000, a decrease of 54.5% compared to RMB 15,751,478,000 in 2023[4] - The gross loss for the year was RMB 698,049,000, compared to a gross profit of RMB 3,553,718,000 in the previous year[4] - The operating loss for the year was RMB 2,490,833,000, a significant decline from an operating profit of RMB 1,901,362,000 in 2023[4] - The net loss attributable to ordinary shareholders was RMB 2,992,483,000, compared to a profit of RMB 140,407,000 in the previous year[5] - The basic and diluted loss per share attributable to ordinary shareholders was RMB 88.88, compared to earnings of RMB 4.17 in 2023[5] - The company reported a total comprehensive loss of RMB 3,526,457,000 for the year, compared to a total comprehensive income of RMB 1,003,000 in 2023[6] - The total revenue for the year ended December 31, 2024, was RMB 1,709,164,000, a significant decrease from RMB 9,212,427,000 in 2023, representing an 81.5% decline[23] - The reported segment loss before tax for 2024 was RMB (3,249,183,000), compared to a profit of RMB 1,076,351,000 in 2023, indicating a substantial shift in financial performance[23] Assets and Liabilities - Total assets decreased to RMB 57,619,449,000 from RMB 65,155,827,000, reflecting a decline of approximately 11.8%[8] - Total liabilities decreased to RMB 39,268,837,000 from RMB 42,927,967,000, a reduction of about 8.5%[8] - The company's net assets decreased to RMB 18,350,612,000 from RMB 22,227,860,000, indicating a decline of approximately 17.5%[8] - Total segment assets as of December 31, 2024, amounted to RMB 42,883,165, down from RMB 47,593,167 in 2023[19] - Total segment liabilities decreased to RMB 22,866,101 in 2024 from RMB 25,849,464 in 2023[19] - The company's total liabilities as of December 31, 2024, were RMB 4,664.801 million, reflecting a decrease from the previous year[38] - As of December 31, 2024, the company's equity attributable to ordinary shareholders decreased by 16.68% to RMB 16,283.41 million[89] - The company's total liabilities to total assets ratio increased to 68% as of December 31, 2024, compared to 66% a year earlier[90] Revenue Segments - Real estate development revenue for the year ended December 31, 2024, was RMB 4,010,608, a decrease of 68.9% from RMB 12,904,731 in 2023[15] - The exhibition (including hotels) and commercial properties segment generated revenue of RMB 2,960,768 in 2024, up 11.7% from RMB 2,649,089 in 2023[15] - The adjusted profit before tax for the real estate development segment was a loss of RMB 3,420,167 in 2024, compared to a profit of RMB 588,578 in 2023[17] - The cost of sales for property development was RMB 3,518,346,000 in 2024, down from RMB 9,881,338,000 in 2023, showing a 64.5% reduction[26] - The real estate development segment reported an operating revenue of RMB 4.0106 billion, a decrease of 68.92% year-on-year, with a pre-tax loss of RMB 342.017 million[77] Operational Highlights - The company hosted 2,243 events in its venues and hotels during the reporting period, a year-on-year increase of approximately 1.9%, with major events totaling 71 and attracting 5.8625 million visitors, a growth of about 20.6%[54] - The company has maintained a leading position in the exhibition venue management sector, with self-owned venues including the National Conference Center and the Beijing International Conference Center, and has expanded light-asset management across 32 cities[47] - The company successfully organized the first ICCA global venue forum and launched the first international certification project for the exhibition industry in China, marking a milestone in professional qualification recognition[60] - The company is actively promoting asset integration and developing rental sales strategies to revitalize existing commercial assets[84] - The company is focusing on enhancing operational service capabilities while innovating business development models in the exhibition and commercial property sectors[86] Strategic Initiatives - The company aims to enhance its operational capabilities through digital transformation and regional innovation cooperation, promoting synergy between its exhibition and real estate sectors[52] - The company plans to enhance its exhibition (including hotel) and commercial property segments, focusing on the development of a first-class exhibition brand and expanding related business areas[81] - The company is addressing talent shortages by implementing a "big talent" strategy to attract and cultivate high-quality professionals[88] - The company is committed to accelerating the de-inventory process and ensuring cash flow safety through various measures[84] - The company aims to achieve a sales area of 463,100 square meters and a contract signing amount (including parking spaces) of RMB 5.51 billion in 2025[86] Market Conditions - In 2024, the national real estate market saw a significant decline in transaction volume, with the total sales area of commercial residential properties dropping by 14.1% year-on-year to 814.5 million square meters, and sales revenue decreasing by 17.6% to RMB 848.64 billion[51] - The hotel sector has faced challenges due to weakened business demand and intense price competition, leading to a decline in occupancy rates and average room prices[50] - The company anticipates broader development opportunities in the exhibition, hotel, and commercial property sectors due to government policies promoting economic growth[78] - The company will adjust real estate policies based on market supply and demand changes to better meet housing needs[79] Governance and Compliance - The company fully complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules during the year[97] - The audit committee, consisting of three independent non-executive directors, reviewed the company's financial reporting procedures and risk management systems[99]

Financial Performance - Operating revenue for the third quarter was CNY 1,301,075,562, a decrease of 59.61% compared to the same period last year[3] - Net profit attributable to shareholders was a loss of CNY 189,784,430, representing a decline of 1,173.21% year-on-year[3] - Net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 208,378,432, a decrease of 14,295.56% compared to the previous year[3] - Total revenue for the first three quarters of 2024 was CNY 4,730,946,624, a decrease of 54.8% compared to CNY 10,489,964,186 in the same period of 2023[17] - The net profit for the first three quarters of 2024 was -1,052,709,814 RMB, compared to -27,634,849 RMB in the same period of 2023, indicating a significant decline in profitability[19] - The total comprehensive income attributable to the parent company for the first three quarters of 2024 was -928,101,569 RMB, while it was 27,253,561 RMB in 2023, reflecting a drastic drop[22] - Operating profit for the first three quarters of 2024 was -918,752,480 RMB, compared to 142,281,038 RMB in 2023, showing a negative shift in operational performance[19] Assets and Liabilities - The total assets at the end of the reporting period were CNY 52,628,814,650, down 6.40% from the previous year[3] - The equity attributable to shareholders at the end of the reporting period was CNY 11,589,443,054, a decrease of 9.78% year-on-year[3] - The company's total assets as of September 30, 2024, were CNY 52,628,814,650, a decrease of 6.4% from CNY 56,225,144,598 at the end of 2023[16] - Current liabilities increased to CNY 21,500,268,947 as of September 30, 2024, compared to CNY 20,058,285,868 at the end of 2023, representing a rise of 7.2%[14] - Total liabilities decreased to CNY 38,487,368,101 as of September 30, 2024, from CNY 40,695,295,539 at the end of 2023, a reduction of 5.4%[15] - The company's equity attributable to shareholders decreased to CNY 11,589,443,054 as of September 30, 2024, down from CNY 12,845,583,320 at the end of 2023, a decline of 9.8%[16] Cash Flow - Cash flow from operating activities was not applicable for the current period, but at the end of the reporting period, it was CNY 516,231,017, down 73.27% year-on-year[3] - Cash inflow from operating activities decreased to 4,852,689,032 RMB in 2024 from 7,460,367,239 RMB in 2023, representing a decline of approximately 34%[23] - Cash outflow from operating activities was 4,336,458,015 RMB in 2024, down from 5,528,759,721 RMB in 2023, indicating a reduction of about 22%[24] - The net cash flow from operating activities for the first three quarters of 2024 was 516,231,017 RMB, a decrease of 73% compared to 1,931,607,518 RMB in 2023[24] - Cash inflow from investment activities totaled 98,796,090 RMB in 2024, down from 230,915,453 RMB in 2023, marking a decline of approximately 57%[25] - Cash outflow from investment activities was 99,503,020 RMB in 2024, compared to 173,783,553 RMB in 2023, indicating a decrease of about 43%[26] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period is 127,377[7] - The largest shareholder, Beijing Beichen Industrial Group Co., Ltd., holds 1,167,511,731 shares, accounting for 34.675% of the total shares[7] Market and Operational Insights - The company experienced a significant decline in revenue due to a decrease in the area available for settlement in the real estate development sector[6] - The company achieved a sales area of 210,500 square meters, a year-on-year decrease of 28.43%, with a sales amount of RMB 2,945 million, down 33.86% year-on-year[10] - The company's equity sales area was 191,500 square meters, a year-on-year decrease of 25.95%[10] - Future outlook includes potential market expansion and new product development strategies to recover from the current financial downturn[17] Earnings Per Share - Basic earnings per share for the third quarter were CNY -0.06, a decrease of 1,300.00% compared to the same period last year[3] - The basic and diluted earnings per share for the first three quarters of 2024 were both -0.28 RMB, compared to 0.008 RMB in 2023, reflecting a significant loss per share[22]

港交所股票代號 : 0588 上交所股票代號 : 601588 E E ■ I B nt E L l E n M E 011 B 000 E B 01 日目日 ■ BT 011 E BT B b ■ E L E FREE E E L 145 E - P - r with 2014-11 【 】【 are and and and 2024 中期報告 中期報告 截至二零二四年六月三十日止六個月期間 • 收入為人民幣3,429,871,000元，比去年同期下降52.81% • 營運虧損為人民幣355,699,000元，比去年同期下降147.10% • 本公司普通股股東應佔虧損為人民幣769,580,000元，比去年同期減少人民幣902,546,000元，其中本公司除稅後主營 業務的核心經營業績（不含公允值變動損失）錄得虧損為人民幣586,427,000元，同比減少人民幣696,127,000元。本期 間投資性房地產公允價值變動損失（稅後）為人民幣183,153,000元 • 每股虧損為人民幣0.2286元，去年同期每股溢利為人民幣0.0395元 • 董事會（「董事會」）決議不派發截至二零二四年六月三十日止六個月期間 ...

Financial Performance - The company reported revenue of RMB 3,429,871,000 for the six months ended June 30, 2024, a decrease of 52.81% compared to RMB 7,268,886,000 in the same period last year[2]. - Operating loss for the period was RMB 355,699,000, a decline of 147.10% from a profit of RMB 755,275,000 in the previous year[2]. - Loss attributable to ordinary shareholders was RMB 769,580,000, a reduction of RMB 902,546,000 compared to the previous year's loss[2]. - Core operating performance (excluding fair value changes) recorded a loss of RMB 586,427,000, a decrease of RMB 696,127,000 year-on-year[1]. - The total adjusted profit before tax for the group was a loss of RMB 637,535,000 for the six months ended June 30, 2024, compared to a profit of RMB 342,020,000 in the same period of 2023[12]. - The company reported a loss before tax of RMB (706,872) thousand for the six months ended June 30, 2024, compared to a profit of RMB 379,984 thousand for the same period in 2023, indicating a significant decline in performance[18]. - Basic and diluted loss per share attributable to ordinary shareholders was RMB 22.86, compared to earnings of RMB 3.95 in the same period last year[2]. Asset and Liability Management - Total assets decreased to RMB 61,526,823,000 as of June 30, 2024, down from RMB 65,155,827,000 at the end of 2023[4]. - Non-current liabilities, including long-term borrowings, amounted to RMB 12,593,114,000, down from RMB 14,984,857,000[5]. - Current liabilities totaled RMB 20,294,861,000, compared to RMB 20,058,286,000 in the previous period[5]. - The company's net assets decreased to RMB 21,060,930,000 from RMB 22,227,860,000[5]. - Total liabilities also decreased to RMB 40,465,893 thousand as of June 30, 2024, compared to RMB 42,927,967 thousand as of December 31, 2023[20]. - The company's equity attributable to ordinary shareholders decreased by 5.62% as of June 30, 2024, primarily due to a loss attributable to ordinary shareholders of RMB 769.58 million during the period[75]. Revenue by Segment - For the six months ended June 30, 2024, the real estate development segment generated revenue of RMB 2,079,049,000, compared to RMB 5,992,742,000 for the same period in 2023, reflecting a significant decrease[8]. - The exhibition (including hotels) and commercial properties segment reported revenue of RMB 1,248,098,000 for the six months ended June 30, 2024, up from RMB 1,191,616,000 in the previous year, indicating a growth of approximately 4.7%[8]. - The group’s other segments generated revenue of RMB 102,724,000 for the six months ended June 30, 2024, compared to RMB 84,528,000 in the same period of 2023, representing an increase of about 21.5%[8]. Market Conditions - The real estate market saw a significant decline, with national residential sales area down 21.9% year-on-year to 40,114.18 million square meters, and sales revenue down 26.9% to RMB 41,269.74 billion in the first half of 2024[37]. - The overall real estate market activity remained weak, with transaction volumes at historically low levels across various cities[37]. - The company is facing market risks due to overall downward pressure in the national real estate market, influenced by declining resident income and housing price expectations[72]. Strategic Initiatives - The company is focusing on integrating exhibition resources and expanding its exhibition industry, aiming to become China's leading exhibition brand[33]. - The company is actively pursuing new strategies to mitigate risks and adapt to the changing market environment, focusing on high-quality development[35]. - The company is enhancing its asset management model and property management standards to support its "exhibition + real estate" operational strategy[33]. - The company is committed to developing a diversified operation model to enhance industry competitiveness[69]. Operational Highlights - The company hosted 674 exhibitions in the first half of 2024, a year-on-year increase of approximately 18%, with a total attendance of 1.4225 million people, up about 9%[42]. - The company signed 2 new management contracts and 4 consulting projects, expanding its management business to 29 cities across key strategic development areas[43]. - The company has a total managed venue area of 4.7 million square meters, maintaining a leading position in the industry[43]. Future Outlook - The company expects to achieve a construction area of 1.7462 million square meters and a completion area of 586,500 square meters in the second half of 2024, aiming for a sales area of 639,200 square meters with a contract amount (including parking spaces) of RMB 8.506 billion[70]. - The company plans to invest RMB 123 million in fixed assets in the second half of 2024, with funding sourced from its own capital[71]. - The company aims to increase its market share through strategic investments and new project launches in key regions[60].

Financial Performance - Net profit attributable to shareholders decreased by 631.88% due to reduced revenue and profit from the real estate development segment[17]. - Operating income fell by 58.82%, primarily due to a decrease in revenue from the real estate development segment[17]. - Basic earnings per share decreased by 600.00% as a result of reduced net profit attributable to ordinary shareholders[17]. - The company recorded a total profit of CNY -169,840,698, reflecting significant losses[4]. - The net profit attributable to shareholders of the listed company was a loss of RMB 173,760,528, representing a decline of 631.88% year-on-year[26]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of RMB 181,647,770, a decrease of 4,197.21% compared to the previous year[26]. - The company reported a net loss of ¥223,170,760 in Q1 2024, compared to a net profit of ¥48,146,359 in Q1 2023[118]. Revenue and Income - The company reported a total revenue of CNY 1,599,551,000 for the first quarter of 2024[3]. - The company's operating revenue for the reporting period was RMB 1,723,183,957, a decrease of 58.82% compared to the same period last year[26]. - Operating revenue for Q1 2024 was 394,916,593, a decrease of 23.4% compared to 515,391,002 in Q1 2023[153]. Cash Flow - Net cash flow from operating activities decreased by 136.25% due to a reduction in cash received from sales of goods and services[17]. - The net cash flow from operating activities was a negative RMB 308,131,849, down 136.25% year-on-year[26]. - In Q1 2024, the net cash flow from operating activities was ¥63,720,917, a decrease of 31.3% compared to ¥92,741,595 in Q1 2023[107]. - The net cash flow from investing activities in Q1 2024 was -¥321,840,656, compared to a positive cash flow of ¥1,173,270,227 in Q1 2023[112]. - The company reported a net increase in cash and cash equivalents of -1,020,733,347 for Q1 2024, compared to an increase of 3,689,853,076 in Q1 2023[133]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 54,322,259,266, a decrease of 3.38% compared to the previous year[15]. - The company’s total liabilities at the end of the reporting period were CNY 41,650,436,474, reflecting a significant financial position[15]. - Total current assets decreased from ¥43,677,842,676 to ¥41,908,096,344, a decline of approximately 4.05%[39]. - The total cash and cash equivalents at the end of Q1 2024 were ¥5,653,976,506, down 41.5% from ¥9,620,265,915 at the end of Q1 2023[108]. - The company’s total liabilities decreased from 34,493,000,000 in Q4 2023 to 32,932,840,494 in Q1 2024[140]. Operational Metrics - The total land reserve remained at 4.2477 million square meters, with no new real estate reserves added during the reporting period[33]. - The company achieved a sales area of 45,400 square meters, a year-on-year decrease of 71.61%, with a sales amount of RMB 644 million, down 71.74%[33]. - The total construction area for conference centers and commercial properties was 367,900 square meters, generating total operating income of RMB 115.6 million[34]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 129,786[20]. - The total equity attributable to shareholders decreased from ¥12,845,583,320 to ¥12,671,822,792, a decline of approximately 1.35%[55]. Future Outlook - The company plans to explore market expansion opportunities and new product development strategies in the upcoming quarters[153]. - The company has no new strategies or mergers and acquisitions reported during this period[33].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 15,751,478 thousand, an increase from RMB 12,988,940 thousand in 2022, representing a growth of approximately 21.6%[2] - Gross profit for 2023 was RMB 3,553,718 thousand, compared to RMB 1,706,146 thousand in 2022, indicating a significant increase in profitability[2] - Operating profit surged to RMB 1,901,362 thousand in 2023, up from RMB 40,547 thousand in the previous year, reflecting a substantial operational improvement[2] - The net profit for the year was RMB 10,190 thousand, a recovery from a net loss of RMB 1,525,177 thousand in 2022[4] - Earnings per share attributable to ordinary shareholders was RMB 4.17, a significant turnaround from a loss per share of RMB 43.70 in the previous year[3] - The adjusted profit before tax for the reportable segments was RMB 997,578,000 in 2023, a significant recovery from a loss of RMB 793,808,000 in 2022[29] - The company reported a comprehensive income of RMB 1,003 thousand for 2023, a significant improvement from a comprehensive loss of RMB 1,519,339 thousand in 2022[4] Assets and Liabilities - Total assets decreased to RMB 65,155,827 thousand in 2023 from RMB 76,112,736 thousand in 2022, indicating a reduction in asset base[15] - Total liabilities were reported at RMB 42,927,967 thousand, down from RMB 53,528,643 thousand in 2022, showing a decrease in financial obligations[6] - The company’s net assets stood at RMB 22,227,860 thousand, slightly down from RMB 22,584,093 thousand in the previous year[6] - Total segment assets as of December 31, 2023, were RMB 47,593,167 thousand, a decrease from RMB 59,998,285 thousand as of December 31, 2022[38] - Total liabilities for the segments were RMB 25,849,464 thousand, with real estate development accounting for RMB 24,341,316 thousand[38] Revenue Segmentation - For the year ended December 31, 2023, the group's revenue from real estate development was RMB 12,904,731,000, an increase of 17.7% from RMB 10,964,541,000 in 2022[22] - The revenue from the exhibition (including hotels) and commercial properties segment for 2023 was RMB 2,649,089,000, up 40.7% from RMB 1,881,782,000 in 2022[22] - Total revenue from external customers reached RMB 12,988,940 thousand, with real estate development contributing RMB 10,964,541 thousand, accounting for approximately 84.7% of total revenue[37] Tax and Expenses - The income tax expense for the year was RMB 1,066,161 thousand, significantly higher than RMB 722,064 thousand in the previous year[51] - The total income tax expense for 2023 was RMB 1,066.2 million, an increase from RMB 722.1 million in 2022[64] - The company reported a depreciation expense of RMB 209,231 thousand for the year, slightly down from RMB 211,863 thousand in the previous year[57] Investment and Development - The total investment amount for the reporting period reached 53.17 billion yuan, with a total land reserve of 4.3257 million square meters and an equity land reserve of 3.8366 million square meters[105] - The company has a total of 432,570 square meters of land under development, with no new real estate reserves added during the reporting period[105] - The company completed a total construction area of 1,426,100 square meters during the reporting period, with 407,300 square meters newly started and 3,222,300 square meters resumed[180] Market and Strategy - The overall GDP growth rate for China in 2023 was 5.2%, indicating a recovering economic environment that supports real estate demand[80] - The company emphasized risk management by controlling operational expenditures and ensuring project development timelines are manageable[84] - The company is focusing on collaborative development projects to optimize its asset portfolio and enhance operational efficiency[98] - The company is innovating its development model by integrating "exhibition + real estate" projects to adapt to current industry trends[104] Dividends and Shareholder Returns - The company proposed a final dividend of RMB 0.02 per share for the year ended December 31, 2023, totaling RMB 67.34 million, compared to no dividend in 2022[69][77] - The company’s proposed dividend is subject to approval at the annual general meeting scheduled for May 29, 2024[77] - The company plans to distribute the proposed final dividend on May 29, 2024, contingent upon shareholder approval at the annual general meeting[92] Operational Highlights - The company successfully delivered 7,460 residential units across 15 batches, demonstrating effective inventory management and sales strategies[99] - The hotel and exhibition sectors showed significant recovery, with increased occupancy rates driven by a resurgence in business travel and events[82] - The company is actively enhancing its risk resistance capabilities in the real estate development business amidst increasing market differentiation and frequent debt risk events[103] Digital Transformation and Marketing - The company is enhancing its digital marketing efforts, with the "Beichen Orange Enjoy Home" online platform achieving over RMB 500 million in sales[99] - The company aims to accelerate the digital transformation of the industry and the construction of smart venues[197] - The company is focused on expanding its upstream business in the exhibition industry through multiple channels and fields[197]

北 京 北 辰 寶 業 股 2023年第三季度報告 重要內容提示： 公 司 負 責 人 、 主 管 會 計 工 作 負 責 人 及 會 計 機 構 負 責 人（ 會 計 主 管 人 員 ） 保證季度報告中財務信息的真實、準確、完整。 是 ✓ 否 一 、主要財務數據 （一）主要會計數據和財務指標 | --- | --- | --- | --- | --- | |--------------------------------|------------------|-------------------|-------------------|--------------| | | | | | 年初至 | | | | 本報告期 | | 報告期末 | | | | 比上年同期 | 年初至 | 比上年同期 | | 項 目 | 本報告期 | 增減變動幅度 | 報告期末 | 增減變動幅度 | | | | (%) | | (%) | | | | | | | | 營業收入 | 3, 221, 078, 013 | 67. 27 | 10, 489, 964, 186 | 19. 66 | | 歸屬於上市公司股東的淨利潤 | 1 ...

Financial Performance - Operating profit for the six months ended June 30, 2023, was RMB 755,275,000, an increase of 593.17% compared to the same period last year[3]. - Revenue for the same period was RMB 7,268,886,000, up 6.26% year-on-year[15]. - Profit attributable to ordinary shareholders was RMB 132,966,000, a turnaround from a loss of RMB 464,459,000 in the previous year[19]. - Basic and diluted earnings per share were RMB 0.0395, compared to a loss per share of RMB 0.1583 in the prior year[18]. - Core operating performance (excluding fair value changes) was RMB 109,700,000, an increase of RMB 540,532,000 year-on-year[15]. - The company reported a net profit of RMB 93,685 thousand for the period, a recovery from a loss of RMB 464,459 thousand in the same period last year[42]. - The adjusted profit before tax for the total segments was RMB 342,020,000, compared to a loss of RMB 119,392,000 for the same period in 2022, indicating a significant turnaround[86]. - The adjusted profit before tax for the real estate development segment was RMB 155,932,000, while the exhibition and commercial properties segment reported a profit of RMB 205,907,000[64]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 73,547,092,000, a decrease from RMB 76,112,736,000 at the end of 2022[16]. - Total liabilities were RMB 50,881,550,000, down from RMB 53,528,643,000 at the end of 2022[17]. - Net assets increased slightly to RMB 22,665,542,000 from RMB 22,584,093,000 at the end of 2022[17]. - The company reported total borrowings (including interest payable) of RMB 27,658,472 thousand as of June 30, 2023, compared to RMB 30,728,492 thousand as of December 31, 2022[55]. - The liquidity risk table indicates total liabilities of RMB 44,245,977 thousand as of June 30, 2023, compared to RMB 44,564,722 thousand as of December 31, 2022[55]. - The total liabilities, including accounts payable and other payables, were RMB 16,399,892,000 as of June 30, 2023, compared to RMB 14,153,707,000 as of December 31, 2022, representing an increase of approximately 15.9%[104]. - The total current and non-current receivables as of June 30, 2023, amounted to RMB 5,050,382, a decrease from RMB 5,396,314 as of December 31, 2022[120]. Cash Flow and Investments - Net cash generated from operating activities was RMB 868,838 thousand, down 9.7% from RMB 962,208 thousand in the previous year[22]. - Cash and cash equivalents at the end of the period were RMB 10,356,222 thousand, a decrease from RMB 10,985,546 thousand at the end of the previous year[22]. - The net cash used in investing activities was RMB 67,452 thousand, a significant improvement from a net cash outflow of RMB 155,224 thousand in the previous year[22]. - The company raised RMB 2,903,931 thousand through borrowings and bond issuance during the financing activities[22]. - Investment income for the six months ended June 30, 2023, was RMB 29,996,000, an increase from RMB 18,508,000 in the same period of 2022[165]. Dividends and Shareholder Returns - The board decided not to declare an interim dividend for the six months ended June 30, 2023[15]. - The group did not declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[194]. Real Estate and Revenue Segments - Total revenue from the real estate development segment reached RMB 5,992,742,000, while the exhibition (including hotels) and commercial properties segment generated RMB 1,191,616,000 for the six months ended June 30, 2023[64]. - The confirmed revenue from contract liabilities for the real estate development segment was RMB 3,337,261,000 for the six months ended June 30, 2023, compared to RMB 4,478,208,000 for the same period in 2022, reflecting a decline of approximately 25.5%[108]. - The rental income from investment properties for the six months ended June 30, 2023, was RMB 706,707,000, compared to RMB 637,839,000 for the same period in 2022[74]. Financial Risks and Guarantees - The company has not recognized any liabilities related to financial guarantee contracts, as the board believes the likelihood of significant losses is low[146]. - The group provided guarantees for mortgage loans to homebuyers, with the outstanding guaranteed amount as of June 30, 2023, being RMB 8,650,010,000, down from RMB 10,979,240,000 as of December 31, 2022[195]. Changes in Valuation and Impairments - The fair value change of investment properties (after tax) was RMB 23,266,000[15]. - The fair value loss recognized in profit or loss for the six months ended June 30, 2023, was RMB 26,612,000, compared to a loss of RMB 136,108,000 for the same period in 2022[13][114]. - The net impairment loss on financial assets for the six months ended June 30, 2023, was RMB 58,884,000, compared to RMB 17,713,000 in the same period of 2022, indicating an increase in financial asset impairments[165]. Related Party Transactions - The group has significant transactions with government-controlled entities, primarily involving bank borrowings and procurement of goods and services, with prices and terms set according to market-based commercial arrangements[199]. - Certain non-controlling shareholders of the group's subsidiaries have significant influence over important related subsidiaries, including Wuhan Jielong Investment Co., Ltd. and Beijing Jinyu Real Estate Development Group Co., Ltd.[200]. - From January 1, 2023, China State Construction Group Co., Ltd. and its subsidiaries are considered related parties of the group due to their controlling interest in Zhongjian Jiuhhe[200].