专题：专题|2024年度A股CFO数据报告：美的集团钟铮年薪946万，比亚迪周亚琳896万 作为上市公司核心管理层关键成员，财务总监CFO的地位与作用至关重要。新浪财经《2024年度A股 CFO数据报告》显示，2024年A股上市公司财务总监CFO群体薪酬规模合计达42.70亿元，平均年薪为 81.48万元。 分行业来看，A股市场房地产行业共有105家公司，其中104位财务总监薪酬（剔除一家无薪酬记录的公 司）均值为89.01万元，高于市场均值。 事实上，在前几年，房地产行业快速发展的同时，其高管层也享受了较高的待遇，千万年薪并不少见。 近几年房地产行业进入调整期，很多公司连续亏损，管理层薪酬虽然有所下降，仍旧处在较高的水平。 比如京投发展，连续亏损两年，去年收入减少86.69%，亏损10.55亿元，财务总监兼董秘张雨来薪酬仍 达到146.75万元。 从A股市场房地产行业财务总监总体来看，年龄分布上，50（含）岁以上人群为主力，占比接近50%； 40（含）-50岁占比为43%；30（含）-40仅占7.6%。 中国国贸的财务总监林南春年龄在最大，出生于1957年，截至2024年已经67岁。林南春从2008年起担任 ...

Core Viewpoint - The article discusses the recent trend of top management talent moving from leading state-owned real estate enterprises to local state-owned enterprises, highlighting the strategic hiring of Li Feng by Beijing Investment Development Group as a significant move in the competitive Beijing real estate market [1][7][25]. Group 1: Talent Movement and Management Changes - Leading state-owned enterprises like China Jinmao and China Resources Land have been actively recruiting and nurturing top management talent during market downturns [1][8]. - Li Feng, former General Manager of the Marketing Center at China Jinmao, has joined Beijing Investment Development Group as the new marketing head, indicating a strategic shift for the company [1][2][25]. - The trend of top management talent moving to local state-owned enterprises is seen as a response to the competitive pressures in the real estate market, with these companies becoming attractive "safe havens" for top talent [1][8]. Group 2: Performance and Market Dynamics - The Beijing real estate market is increasingly dominated by top-tier firms, with the top 30 companies achieving a sales volume of 129.3 billion, a 14% year-on-year increase [8]. - The performance of real estate companies is highly dependent on effective marketing strategies, as evidenced by the significant sales growth of top firms compared to those in lower tiers [8][25]. - Beijing Investment Development Group has faced challenges, including projected losses of 6.6 billion and 10.55 billion for 2023 and 2024, respectively, but has shown signs of recovery with a sales achievement of 11.03 billion in the first half of the year [25][26]. Group 3: Company Background and Development Strategy - Beijing Investment Development Group, originally known as Yintai Holdings, has a strong foundation in transit-oriented development (TOD) and is recognized as a leader in rail property development [17][18]. - The company has developed a diverse portfolio, including residential, commercial, and mixed-use projects, leveraging its connection to the Beijing subway system [17][18]. - The recent hiring of Li Feng is expected to enhance the company's market position and brand influence in Beijing, particularly as it seeks to capitalize on new high-value projects [26][27].

Core Viewpoint - The legal opinion letter from Beijing Zhonglun Law Firm confirms that the procedures for the 2025 fifth extraordinary general meeting of shareholders of Jingtou Development Co., Ltd. comply with relevant laws, regulations, and the company's articles of association [1][5]. Group 1: Meeting Procedures - The extraordinary general meeting was convened by the company's board of directors, with the notice published on July 1, 2025, in various financial newspapers and on the Shanghai Stock Exchange website [1][3]. - The meeting was held on July 16, 2025, at 14:00 in Beijing, combining both on-site and online voting methods [3][4]. - The notice included all necessary details such as meeting time, voting methods, and agenda items, ensuring full disclosure as per legal requirements [3][4]. Group 2: Attendance Qualifications - The record date for shareholders to attend the meeting was July 9, 2025, with 141 participants representing shares at the meeting [4][5]. - All attending shareholders were verified to be registered holders of the company's shares as of the record date [4][5]. Group 3: Agenda Items - The agenda items for the meeting were submitted by the board of directors and remained unchanged during the meeting [5][6]. - The legal opinion confirms that the agenda items complied with relevant laws and the company's articles of association [5][6]. Group 4: Voting Procedures and Results - Voting was conducted through both on-site and online platforms, with shareholders required to choose one method for casting their votes [5][6]. - The voting results indicated that 119,932,926 shares were in favor, 280,005 against, and 40,700 abstained, reflecting the voting outcome [6][7]. - The meeting's resolutions were deemed valid and in accordance with legal and regulatory requirements [6][7].

Group 1 - The company held a shareholder meeting on July 16, 2025, with a total attendance representing 27.0557% of the shares [1] - The meeting was conducted in compliance with the Company Law and the Articles of Association, utilizing both on-site and online voting methods [1] - The chairman of the board, Mr. Kong Lingyang, presided over the meeting, which included attendance from directors, supervisors, and the board secretary [1] Group 2 - Non-cumulative voting proposals were approved with significant support, including 99.7333% and 99.4826% of A-share votes in favor [1] - The voting results for major matters involving less than 5% of shareholders were also documented, indicating a structured voting process [1] - The legal representatives confirmed that the meeting's procedures complied with relevant laws and regulations, ensuring the legitimacy of the proposals and voting outcomes [1][2]

证券代码：600683 证券简称：京投发展 公告编号：临 2025-066 京投发展股份有限公司 2025年第五次临时股东会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 一、 会议召开和出席情况 | 1、出席会议的股东和代理人人数 | 141 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 120,253,631 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | | | 份总数的比例（%） | 27.0557 | (四) 表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况 等。 本次股东会采用现场投票和网络投票相结合的表决方式，符合《公司法》和 《公司章程》的有关规定，会议由董事长孔令洋先生主持。 (一) 股东会召开的时间：2025 年 07 月 16 日 (二) 股东会召开的地点：北京市朝阳区建国门外大街 2 号银泰中心 C 座 17 层会议室 (三) 出席会议的普通股股东和恢复表决权的优先股股东及其持 ...

北京市中伦律师事务所 关于京投发展股份有限公司 2025 年第五次临时股东会的法 律意见书 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 北京市中伦律师事务所 关于京投发展股份有限公司 2025 年第五次临时股东会 的法律意见书 为出具本法律意见书，本所委派律师参加了本次临时股东会，审查了公司提供的文 件和资料，并进行了必要的审查和验证。在前述审查和验证的过程中，本所律师得到公 司的如下承诺和保证：公司已经提供了本所认为出具本法律意见书所必需的，完整、真 实、准确、合法及有效的原始书面材料、副本材料 ...

Group 1 - The company expects a net profit attributable to the parent company of between -280 million and -240 million yuan for the first half of 2025 [1][2] - The net profit after deducting non-recurring gains and losses is projected to be between -298 million and -258 million yuan [1][2] - Compared to the same period last year, the loss is expected to increase by 97.37 million to 137.37 million yuan [1][2] Group 2 - The previous year's net profit attributable to the parent company was -142.63 million yuan, with a total profit of -224.29 million yuan [2] - The company reported a loss per share of -0.41 yuan in the previous year [2] - The primary reasons for the expected loss include a decrease in gross profit from real estate business and an increase in interest expenses related to real estate projects [2]

| 物业名称 | 项目种类 | 可出租面积 | 出租率 | 2025年4-6月租 | 2025年1-6月租 | | --- | --- | --- | --- | --- | --- | | | | (平方米) | | 金收入（万元） | 金收入（万元） | | 阳光花园 | 幼儿园 | 2,436.00 | 100.00% | 28.09 | 56.19 | | 泰悦豪庭 | 商铺 | 2,264.53 | 100.00% | 77.65 | 155.24 | | 华联2号楼及中农 信商厦 | 购物中心及商用 库房 | 11,785.71 | 84.72% | 66.67 | 133.34 | | 华联3号楼 | 商铺及购物中心 | 6,539.58 | 72.71% | 184.62 | 345.04 | | | 写字楼 | 6,468.56 | 74.08% | 95.70 | 181.80 | 1 京投发展股份有限公司 2025年第二季度主要经营数据公告 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。 公司现将2025 ...

[Jingtou Development 2025 Semi-Annual Performance Forecast](index=1&type=section&id=%E4%BA%AC%E6%8A%95%E5%8F%91%E5%B1%95%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B82025%E5%B9%B4%E5%8D%8A%E5%B9%B4%E5%BA%A6%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A) [Performance Forecast Summary](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) The company forecasts a net loss for H1 2025, with attributable net profit between -280 million and -240 million yuan Estimated Financial Performance for H1 2025 | Metric | Estimated Amount (RMB) | | :--- | :--- | | **Net Profit Attributable to Owners of the Parent Company** | -280 million to -240 million yuan | | **Net Profit Attributable to Owners of the Parent Company (Excluding Non-Recurring Items)** | -298 million to -258 million yuan | [Details of Current Period Performance Forecast](index=1&type=section&id=%E4%B8%80%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E5%91%8A%E6%83%85%E5%86%B5) Preliminary estimates for H1 2025 project a net loss attributable to owners of the parent company between 240 million and 280 million yuan, an increased loss from prior year, and is unaudited - The performance forecast period is from January 1, 2025, to June 30, 2025[4](index=4&type=chunk) Detailed Estimated Profit Items for H1 2025 | Profit Item | Estimated Amount (RMB) | | :--- | :--- | | **Net Profit Attributable to Owners of the Parent Company** | -280 million to -240 million yuan | | Of which: Net Profit Attributable to Ordinary Shareholders of the Parent Company | -434 million to -394 million yuan | | Of which: Net Profit Attributable to Other Equity Holders (Perpetual Bonds) | 154 million yuan | | **Net Profit Attributable to Owners of the Parent Company (Excluding Non-Recurring Items)** | -298 million to -258 million yuan | - Compared to the same period last year, the net loss attributable to owners of the parent company increased by **97.37 million to 137.37 million yuan**[4](index=4&type=chunk) - This performance forecast is based on the company's preliminary estimates and has not been audited by a certified public accountant[4](index=4&type=chunk) [Prior Period Performance Review](index=2&type=section&id=%E4%BA%8C%E3%80%81%E4%B8%8A%E5%B9%B4%E5%90%8C%E6%9C%9F%E7%BB%8F%E8%90%A5%E4%B8%9A%E7%BB%A9%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%83%85%E5%86%B5) H1 2024 saw a net loss attributable to owners of the parent company of **143 million yuan** and a non-recurring net loss of **177 million yuan** Key Financial Metrics for H1 2024 | Metric (H1 2024) | Amount (RMB) | | :--- | :--- | | Total Profit | -224.29 million yuan | | Net Profit Attributable to Owners of the Parent Company | -142.63 million yuan | | Net Profit Attributable to Owners of the Parent Company (Excluding Non-Recurring Items) | -176.91 million yuan | | Earnings Per Share | -0.41 yuan | [Analysis of Forecasted Loss](index=2&type=section&id=%E4%B8%89%E3%80%81%E6%9C%AC%E6%9C%9F%E4%B8%9A%E7%BB%A9%E9%A2%84%E4%BA%8F%E7%9A%84%E4%B8%BB%E8%A6%81%E5%8E%9F%E5%9B%A0) H1 2025 loss is primarily due to decreased gross profit from real estate settlements and increased capitalized interest expenses - A decrease in gross profit from real estate business settlements is one reason for the loss[7](index=7&type=chunk) - Increased capitalized interest expenses for real estate projects are another contributing factor to the loss[7](index=7&type=chunk) [Risk Warning](index=2&type=section&id=%E5%9B%9B%E3%80%81%E9%A3%8E%E9%99%A9%E6%8F%90%E7%A4%BA) This performance forecast is unaudited, and as of the announcement date, no significant uncertainties affect its accuracy - This performance forecast has not been audited by a certified public accountant[8](index=8&type=chunk) - The company states there are no significant uncertainties affecting the accuracy of this performance forecast[8](index=8&type=chunk) [Other Explanations](index=2&type=section&id=%E4%BA%94%E3%80%81%E5%85%B6%E4%BB%96%E8%AF%B4%E6%98%8E%E4%BA%8B%E9%A1%B9) Disclosed data is preliminary; final figures will be in the 2025 semi-annual report, with a caution on investment risks - The forecast data is preliminary, and final figures will be based on the officially disclosed **2025 semi-annual report**[9](index=9&type=chunk) - Investors are reminded to be aware of investment risks[9](index=9&type=chunk)

Meeting Overview - The fifth extraordinary general meeting of shareholders for 2025 will be held on July 16, 2025, at 14:00 in Beijing [1] - Voting will be conducted both on-site and via the Shanghai Stock Exchange network voting system [2] Borrowing Proposal - The company plans to apply for a loan of up to RMB 3.4 billion from its controlling shareholder, Beijing Infrastructure Investment Co., Ltd., for a term of 5 years [2][3] - The loan interest rate will be based on the 1-year LPR published by the National Interbank Funding Center, with a downward adjustment of 90 basis points [5][6] Related Party Transactions - The controlling shareholder, Beijing Infrastructure Investment Co., Ltd., holds 40% of the company's shares and is considered a related party [3][4] - The proposed borrowing transaction does not constitute a major asset restructuring as per relevant regulations [4][11] Financial Status of the Controlling Shareholder - As of December 31, 2024, the controlling shareholder had total assets of RMB 9,276.21 billion and net assets of RMB 3,148.97 billion [5][12] - For the first quarter of 2025, the controlling shareholder reported total assets of RMB 9,561.67 billion and net profit of RMB 8.09 billion [5][13] Capital Increase Proposal - The company’s wholly-owned subsidiary, Beijing Jingtou Real Estate Co., Ltd., plans to jointly increase capital in three project companies with the controlling shareholder [9][16] - The total capital increase for the three project companies will be RMB 80 million each, maintaining the existing shareholding structure [9][10] Impact of Transactions - The proposed borrowing and capital increase are aimed at enhancing the company's liquidity and supporting its operational activities [6][16] - These transactions are expected to align with the company's strategic development and will not harm the interests of shareholders, particularly minority shareholders [8][16]