证券代码：600675 证券简称：中华企业 公告编号：临 2025-016 中华企业股份有限公司 关于召开2024年度暨2025年第一季度业绩说明会 的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 6 月 12 日 （星期四） 15:00-16:00 会议召开地点：上海证券交易所上证路演中心（网址： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于 2025 年 6 月 05 日 （星期四） 至 6 月 11 日 （星 期三）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目 或通过公司投资者关系邮箱 zhqydm@cecl.com.cn 进行提问。公司将 在说明会上对投资者普遍关注的问题进行回答。 中华企业股份有限公司（以下简称"公司"）已于 2025 年 4 月 17 日、4 月 30 日披露公司 2024 年年度报告、2025 年第一季度报告， 为便于广大投资者更全面深入地了解公司 2024 年度、2 ...

Core Viewpoint - In 2024, the company experienced a decline in revenue from its real estate development segment due to project handovers, while both the commercial and property management segments saw revenue growth [1][4]. Group 1: Revenue Performance - The real estate development segment's revenue decreased, with total sales amounting to 5.82 billion yuan and a sales area of 100,000 square meters, resulting in a handover revenue of 5.05 billion yuan and a handover area of 75,000 square meters [1]. - The company's total operating revenue for the period was 6.959 billion yuan, a decrease of 47.23% compared to the same period last year, with a net profit attributable to shareholders of -317 million yuan, down 157.06% year-on-year [1]. - The main projects contributing to revenue in 2024 included the Zhongqi Yuncui Forest project in Shanghai, while several key projects were not included in the 2024 revenue recognition [1]. Group 2: Business Segment Performance - The main business revenue accounted for 99.69% of total revenue, with real estate business revenue at 5.918 billion yuan and a gross margin of 37.61%, down 51.93% year-on-year [4]. - Property management revenue reached 698 million yuan, with a gross margin of 4.1%, an increase of 16.16% compared to the previous year [4]. - Commercial revenue was 320 million yuan, reflecting a growth of 41.98% year-on-year [4]. Group 3: Land and Financing - The company faced insufficient land reserves, with no new land acquisitions in 2024, relying on previously accumulated land reserves [7]. - The company had only three plots of land awaiting development, totaling 212,200 square meters [7]. - The net debt ratio for 2024 was 27.6%, continuing a three-year decline, and the cash-to-short-term debt ratio was 13.9 times, the lowest in five years [8]. Group 4: Asset Optimization and Agricultural Development - The company focused on optimizing existing assets, expanding leasing business scale, and enhancing asset management efficiency, achieving a rental income of 647 million yuan from over 800,000 square meters of leasable assets [13]. - The company improved its property management system and service quality, managing 296 projects with a total area of 25.5 million square meters, leading to significant revenue growth [14]. - The company also developed urban agriculture, achieving a revenue of 320 million yuan in 2024 through enhanced supply chain management and market expansion [14].

Retail Sector Activity - The retail sector showed significant activity with Maoye Commercial (600828) hitting the daily limit and achieving five consecutive trading limits [1][4] - Other notable stocks in the retail sector included Cuiwei Co. (603123) and Laisen Tongling (603900), both reaching the daily limit, while Zhongxing Commercial (000715) and Hongqi Chain (002697) also saw substantial gains [4] Economic Indicators - In the first quarter, China's total retail sales of consumer goods reached 12.47 trillion yuan, marking a year-on-year growth of 4.6%, which is an acceleration of 1.1 percentage points compared to the previous year [6] - March alone saw a growth rate of 5.9% in retail sales [6] AI Glasses Concept - The AI glasses concept opened strong with Yingtong Communications (002861) hitting the daily limit, while Deep Konka A surged over 8% [7] Computing Power Leasing Concept - The computing power leasing concept gained momentum with Changshan Beiming (000158), Chaoxun Communication (603322), and Hongbo Co. (002229) all reaching the daily limit, and Yitian Intelligent (300911) rising over 10% [8] Real Estate Sector Movement - The real estate sector experienced a surge with Zhonghua Enterprise (600675) and Yuehongyuan A both hitting the daily limit, while Huayuan Real Estate (600743) and Xinhuangpu (600638) increased by over 7% [9] Banking Sector Decline - The banking sector faced declines, with Huaxia Bank dropping over 8%, and major banks like China Construction Bank, Beijing Bank, and others falling by more than 2% [10] Manufacturing PMI - China's manufacturing purchasing managers' index (PMI) for April was reported at 49%, a decrease of 1.5 percentage points from the previous month, indicating a contraction in the manufacturing sector [11] - High-tech manufacturing PMI stood at 51.5%, indicating continued expansion in that sector [11] - The service sector maintained expansion with a business activity index of 50.1, despite a slight decline from the previous month [11] US Automotive Tariff Developments - President Trump signed an announcement to provide compensation for tariffs on imported auto parts, allowing up to 3.75% of the retail price for compensation, which will decrease to 2.5% in the second year [12] - This move reflects ongoing pressure on the government regarding its tariff policies [12]

证券代码：600675 股票简称：中华企业 编号：临 2025-014 中华企业股份有限公司 第十一届董事会第六次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 中华企业股份有限公司（以下简称"公司"）第十一届董事会第六次会议 于 2025 年 4 月 28 日以通讯表决方式召开，公司董事会由 8 名董事组成，应参 与表决董事 8 人，实际参与表决董事 8 人，符合《公司法》和《公司章程》的 规定。经与会董事审议，通过了如下议案： 一、公司 2025 年第一季度报告 此项议案，8 票同意，0 票反对，0 票弃权获得通过。 具体内容详见上海证券交易所网站（www.sse.com.cn）。 二、关于分公司注销的议案 此项议案，8 票同意，0 票反对，0 票弃权获得通过。 特此公告！ 中华企业股份有限公司董事会 2025 年 4 月 30 日 公司 2025 年第一季度报告已经公司审计委员会审议通过。 ...

Group 1: Financial Performance - In Q1 2025, the company achieved operating revenue of 5.765 billion yuan, a year-on-year increase of 1159.37% [1] - The net profit attributable to shareholders was 460 million yuan, marking a turnaround from losses in the same period last year [1] - The improvement in revenue and profit was primarily due to accelerated project handovers, particularly the completion of the Zhongqi Cloud Forest East District [1] Group 2: Strategic Focus and Project Delivery - The company continues to align with the overall strategic layout of Shanghai Real Estate Group, emphasizing "steady progress and quality improvement" [1] - The company successfully delivered the Zhongqi Cloud Forest East District ahead of schedule, contributing to a total delivered area of 105,164.6 square meters for the project [1] - Future efforts will focus on enhancing residential project product quality and optimizing design and configuration to meet market demand [1] Group 3: Asset Management and Financing - As of the end of 2024, the company had a leasable asset scale of over 800,000 square meters, with a high occupancy rate and cumulative rental income of 647 million yuan [2] - The company issued a non-public corporate bond in early 2024, raising 1.52 billion yuan at a record low interest rate of 1.88% [2] - The company reported a healthy financial status with cash reserves of 17.844 billion yuan and short-term debt of 1.256 billion yuan due within one year [2] Group 4: Urban Services and Property Management - The company is expanding its urban life services sector, with its subsidiary Xin Hong Agriculture achieving revenue of 320 million yuan in 2024, a year-on-year increase of 41.98% [3] - The company’s subsidiary, Gubei Property, successfully won a bid for the Dong'an Riverside Comprehensive Maintenance Project, marking a significant breakthrough in urban maintenance [3] - By the end of 2024, Gubei Property managed nearly 300 projects, covering over 25 million square meters of various property types [3]

不 证券代码：600675 股票简称：中华企业 编号：临 2025-015 中华企业股份有限公司定期经营数据公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真 实性、准确性和完整性承担法律责任。 | 投资开发 | 项 | 目 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 规 | 划 | 季 | 度 | 内 | 年内 | 累 | 计 | 季 | 度 | 内 | 年内 | 项 | 目 | 项 | 位 | 占 | 地 | 总 | 建 | 开 | 工 | 面 | 累计 | 开 | 工 | 竣 | ...

Financial Performance - The company's operating revenue for Q1 2025 reached ¥5,765,080,818.49, a significant increase of 1,159.37% compared to ¥457,776,327.89 in the same period last year[5] - Net profit attributable to shareholders was ¥459,975,087.48, a turnaround from a loss of ¥214,354,750.94 in the previous year[5] - The net profit after deducting non-recurring gains and losses was ¥451,433,745.60, compared to a loss of ¥223,512,001.22 in the same period last year[5] - Basic and diluted earnings per share were both ¥0.08, improving from a loss of ¥0.04 per share in the previous year[6] - Operating profit for Q1 2025 was ¥1,240,791,576.00, compared to a loss of ¥216,111,511.71 in Q1 2024, indicating a turnaround in profitability[18] - Net profit for Q1 2025 was ¥817,435,561.22, contrasting with a net loss of ¥208,121,835.88 in Q1 2024, marking a substantial improvement[18] - The company reported a net cash outflow from operating activities of ¥92,909,093.29 in Q1 2025, a significant reduction from a net outflow of ¥1,027,636,427.21 in Q1 2024[20] - The company reported investment income of ¥111,267,740.58 in Q1 2025, a significant recovery from a loss of ¥366,728.11 in Q1 2024[17] - The company’s total comprehensive income for Q1 2025 was ¥817,435,561.22, compared to a loss of ¥208,121,835.88 in Q1 2024[18] Assets and Liabilities - Total assets at the end of the reporting period were ¥54,496,618,397.20, a decrease of 4.02% from ¥56,777,717,344.80 at the end of the previous year[6] - The company's current assets totaled RMB 41.49 billion, down from RMB 43.86 billion, indicating a decrease of about 5.41%[14] - The company's total liabilities decreased to RMB 36.72 billion from RMB 39.81 billion, a reduction of about 7.8%[15] - The company's short-term borrowings increased significantly to RMB 40.01 million from RMB 20.01 million, marking a 100% increase[14] - The company's accounts payable decreased to RMB 1.93 billion from RMB 2.24 billion, a decline of about 13.63%[15] - The company's contract liabilities dropped to RMB 4.41 billion from RMB 8.87 billion, a decrease of approximately 50.24%[15] - The company's long-term borrowings remained relatively stable at RMB 10.41 billion compared to RMB 10.42 billion, showing a negligible change[15] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 3.21% to ¥14,793,810,554.51 from ¥14,333,835,467.03[6] - The company's equity attributable to shareholders rose to RMB 14.79 billion from RMB 14.33 billion, an increase of approximately 3.23%[15] - The company reported an increase in retained earnings to RMB 6.58 billion from RMB 6.12 billion, reflecting a growth of approximately 7.61%[15] Cash Flow - The net cash flow from operating activities was -¥92,909,093.29, an improvement from -¥1,027,636,427.21 in the previous year[5] - Cash and cash equivalents at the end of Q1 2025 totaled ¥18,911,157,316.43, up from ¥17,083,318,237.85 at the end of Q1 2024[21] - The company generated cash inflows from financing activities of ¥1,928,047,052.05 in Q1 2025, compared to ¥2,795,000,000.00 in Q1 2024[21] Operating Costs - The total operating costs for Q1 2025 were ¥4,637,440,194.91, a decrease from ¥679,498,442.69 in Q1 2024[17] - The company's cash and cash equivalents increased to RMB 19.03 billion from RMB 17.84 billion, representing a growth of approximately 6.66%[13]

Core Viewpoint - The company reported a revenue of 6.959 billion yuan for 2024, with a net asset value of 14.334 billion yuan, and has distributed a total cash dividend of 4.341 billion yuan since its listing [2] Group 1: Financial Performance - In 2024, the company achieved a total signed sales amount of 5.816 billion yuan, with a significant increase in the fourth quarter, reaching 2.057 billion yuan, representing a year-on-year growth of 35.91% [4] - The company maintained a net cash flow from operating activities of 2.353 billion yuan for the year, with a cash balance of 17.844 billion yuan at the end of 2024 [7] - The average interest rate on interest-bearing liabilities decreased from 4.34% to 3.87%, indicating improved financing conditions [7] Group 2: Strategic Initiatives - The company is focusing on enhancing its core business while expanding into urban living services and urban agriculture, aiming to create new growth points [5] - The urban agriculture segment achieved a revenue of 320 million yuan in 2024, marking a 41.98% increase from the previous year [5] - The company has optimized its property management system, managing 296 projects with a total area of 25.5 million square meters, leading to significant revenue growth [6] Group 3: Quality and Delivery - The company has responded to national policies by improving product quality and accelerating project construction, emphasizing the importance of both quantity and quality in delivery [3] - The Guanghua Yajing project utilized advanced technologies such as green building and sponge city concepts, earning recognition with a second prize in the 2024 Shanghai Excellent Engineering Survey and Design Award [3] - The company successfully completed the delivery of the Xiqu and Dongqu sections of the Zhongqi Yun Cui Forest project ahead of schedule, with a total delivery area of 105,164.6 square meters [3]

证券代码：600675 股票简称：中华企业 编号：临 2025-010 中华企业股份有限公司 关于公司 2025 年度融资计划的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容的真实性、 准确性和完整性承担法律责任。 根据公司生产经营情况、项目建设资金需求及未来投资发展需要，参照中 华企业股份有限公司（以下简称"公司"）2024 年度融资情况，公司于 2025 年 4 月 15 日召开第十一届董事会第五次会议，审议通过了关于公司 2025 年度融 资计划的议案，确定公司 2025 年度新增对外融资总额不超过 64 亿元人民币， 具体内容如下： 一、融资方式 包括但不限于综合授信、银行贷款、股权融资贷款；委托贷款、融资 租赁借款、小额贷款；发行公司债券、企业债券、中期票据、北京金融资 产交易所债权融资计划、非金融企业债务融资工具、保险资金债权投资计 划、资产证券化（包括但不限于 CMBS、类 REITS、供应链保理 ABS、其他 私募金融工具等方式）。 3、由公司控股股东提供信用担保或资产抵押、质押担保； 4、法律、法规允许的其他方式提供担保。 四、融资主体范围： ...

中华企业股份有限公司 内部控制审计报告 二〇二四年度 您可使用手机"扫一扫"或进入"注册会计师行业统一监管平台（http://acc.mnf.gov.net 2019-04-24 1 c.mof.gov.cn) 报告编码:沪25 之信会计师事务所(特殊普通合伙) HINA SHU LUN PAN CERTIFIED PUBLIC ACCOUNTAN 内部控制审计报告 信会师报字[2025]第 ZA10891 号 中华企业股份有限公司全体股东: 按照《企业内部控制审计指引》及中国注册会计师执业准则的相 关要求,我们审计了中华企业股份有限公司(以下简称中华企业)2024 年 12月 31 日的财务报告内部控制的有效性。 一、 企业对内部控制的责任 按照《企业内部控制基本规范》、《企业内部控制应用指引》、《企 业内部控制评价指引》的规定,建立健全和有效实施内部控制,并评 价其有效性是中华企业董事会的责任。 二、 注册会计师的责任 我们的责任是在实施审计工作的基础上,对财务报告内部控制的 有效性发表审计意见,并对注意到的非财务报告内部控制的重大缺陷 进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性,存在不 ...