北京华远新航控股股份有限公司（以下简称"公司"）第八届董 事会第三十二次会议于 2025 年 8 月 14 日以邮件方式发出会议通知， 于 2025 年 8 月 19 日以通讯表决方式召开，应参加表决董事 7 人，实 际参加表决董事 7 人，会议符合《中华人民共和国公司法》和《公司 章程》的有关规定。会议逐项审议如下议案： 证券代码：600743 证券简称：华远控股 编号：临 2025-025 一、审议并一致通过了《关于增补第八届董事会非独立董事的议 案》。 北京华远新航控股股份有限公司 根据《中华人民共和国公司法》《公司章程》等相关规定，经公 司控股股东北京市华远集团有限公司提名，推荐祝林先生为公司第八 届董事会非独立董事候选人，任期自公司股东会审议通过之日起至第 八届董事会届满时止（简历附后）。 第八届董事会第三十二次会议决议公告 本议案已经公司第八届董事会提名与薪酬委员会 2025 年第二次 会议审议通过，并同意提交董事会审议。本议案尚需提交公司股东会 审议。 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。 （表决结果： ...

Group 1 - The event "Night Movement in Beijing, Trend You Come" showcased the integration of sports, culture, and commerce, aiming to revitalize traditional cultural practices through innovative approaches [1][2] - The market operated from noon to evening, aligning with the city's nightlife and providing a platform for cultural and commercial activities [1] - The venue, Dajixiang, serves as a new cultural landmark, blending old Beijing's heritage with modern vibrancy, making it an ideal stage for the "Far Away Gift" brand's non-heritage display [1] Group 2 - Interactive activities highlighted the close relationship between culture and sports, with traditional patterns incorporated into modern games and apparel [2] - Unique activities like the "Fish Washing Basin" and "Knot Unlocking Challenge" engaged families, blending traditional wisdom with modern physical challenges [2] - The event transformed culture from static displays into interactive experiences, allowing participants to engage with heritage in a tangible way [2][3] Group 3 - The integration of non-heritage crafts into everyday life reflects a revival of traditional skills, enhancing cultural vitality within urban settings [3] - The initiative represents a practical application of cultural soft power by state-owned enterprises, contributing to urban development through cultural engagement [3] - The project emphasizes the importance of culture in driving commerce, tourism, and sports, showcasing innovative explorations in cultural revitalization [3]

Core Insights - The logistics real estate industry is characterized by significant regional concentration in China, with upstream supply concentrated in coastal and central regions, while the development and operation segments are primarily located in the Yangtze River Delta, Pearl River Delta, and Beijing-Tianjin-Hebei regions [5] Industry Overview - Logistics real estate serves as a platform for modern logistics facilities, where developers invest in and construct specialized logistics infrastructure based on the needs of logistics enterprises [1] - The main operational activities in logistics real estate include site selection, land acquisition, development, management, and fund operations [1] Competitive Landscape - According to Michael Porter's value chain theory, logistics real estate companies must focus on developing core competencies in strategic segments of the value chain to maintain competitive advantages [2] Company Performance - In 2024, the performance of logistics real estate companies in China shows significant divergence, with Kerry Properties reporting revenue of 19.5 billion yuan and a gross margin of 32.8%, while R&F Properties faced a loss with a revenue of 18.77 billion yuan and a gross margin of -4.7% [7] - Other companies like Joy City maintained stable performance with a revenue of 35.79 billion yuan and a gross margin of 21.8% [7] Investment Trends - Kerry Properties has been divesting logistics assets, including the sale of warehouses in Hong Kong for 4.62 billion HKD in 2022, while R&F Properties has exited the logistics real estate sector by selling its entire stake in Guangzhou Airport Logistics Park to Blackstone for a total of 5.295 billion yuan [10] - SF Holding is actively expanding its logistics footprint, planning to list REITs and investing in multiple industrial parks [10] - Other companies like Transfar Zhilian and Nanshan Holdings are also expanding their logistics networks and pursuing REIT listings [10]

近日，国家金融监督管理总局表示，房地产与广大人民群众生活息息相关，金融业责无旁贷，必须 大力支持。1月26日，金融监管总局召开会议，部署推动落实城市房地产融资协调机制相关工作。会议 强调，要深入贯彻落实中央金融工作会议精神，加快推动城市房地产融资协调机制落地见效，更加精准 支持房地产项目合理融资需求，促进房地产市场平稳健康发展。 浙商银行积极响应国家政策号召，贯彻落实金融监管总局的相关要求，在银行间市场率先发力，于 1月25日正式推出了地产债篮子，并独立主承销发行首单房地产企业资产担保债务融资工具。 通过系列创新举措，该行为地产债提供市场流动性、精准支持地产企业，在满足投资机构交易需求 的同时，提振地产企业的市场信心，助力其融资需求。 首发房地产企业债券篮子 华远地产作为国内最早从事地产开发的品牌上市房企之一，业务布局以北京为核心，辐射京津冀、 西部、华中、华南区域。企业在做优住宅开发主业的同时，正在不断锐意进取、积极求变，试水新的发 展模式与产业业态。 此次发行的资产担保债务融资工具，以其独特的资产担保模式，盘活了企业在北京、长沙、广州三 地的资产，实现了风险的有效分散。募集资金全部用于住宅地产的项目建设， ...

Core Viewpoint - Huayuan Holdings (600743.SH) has stated that the company currently has no plans to enter the cultural sector [1] Group 1 - The company confirmed its position on the interactive platform regarding its strategic focus [1]

Core Insights - The logistics real estate industry in China has a limited number of listed companies, with most focusing on either real estate or logistics, and many involved in warehousing and light asset operations [1][4] - Companies like Jinke, Zhongchu, and others have a high degree of relevance to logistics real estate, while others like R&F and Joy City have a moderate relevance, primarily focusing on real estate development [1][4] Company Overview - Kerry Properties (00683HK): A comprehensive real estate group in Hong Kong, focusing on high-end commercial real estate development and investment, with total assets exceeding HKD 100 billion [3] - R&F Properties (02777.HK): A major residential and commercial real estate developer in China, managing over 300 property projects, currently focusing on debt restructuring and asset optimization [3] - Joy City (000031.SZ): A subsidiary of COFCO, known for urban complex operations, managing over 20 commercial projects, emphasizing young consumer experiences [3] - China Vanke (000002.SZ): A leading real estate company in China, expanding into logistics and cold chain sectors in recent years [3] - SF Holding (002352.SZ): The largest express logistics company in China, operating 84 self-owned cargo planes and focusing on smart logistics transformation [3] Financial Performance - In 2024, revenue for logistics real estate companies shows significant divergence, with leading companies like Zhongchu and SF Holding generating revenues in the hundreds of billions, while some smaller firms report revenues around tens of millions [4][5] - Most companies maintain a gross margin between 10-30%, indicating an overall improvement in industry profitability [4] Revenue and Profitability Metrics - SF Holding reported a revenue of CNY 2844.2 billion with a gross margin of 13.9% in 2024 [5] - Vanke A achieved a revenue of CNY 3431.8 billion with a gross margin of 10.2% [5] - R&F Properties reported a revenue of CNY 187.7 billion but with a negative gross margin of -4.7% [5] Regional Layout - Companies have varying regional focuses, with Kerry Properties targeting key areas like Shanghai and Beijing, while Zhongchu has established a national network with over 100 warehouses across 20 provinces [9][10] - SF Holding is developing logistics hubs in cities like Ezhou and Jiaxing, enhancing its logistics network [10] Business Development Plans - Companies like Huayuan Holdings and Zhongchu are planning to build new logistics parks, focusing on intelligent technology applications and network enhancements [15][17] - Vanke is concentrating on high-standard warehouses and cold chain logistics, while Jinke is exploring synergies between logistics and other real estate sectors [17][18]

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： 北京华远新航控股股份有限公司（以下简称"公司"）董事会近 日收到公司非独立董事杨云燕先生递交的书面辞职报告。因已退休， 杨云燕先生向董事会提出辞去公司第八届董事会董事职务。具体情况 如下： | 是否 | 是否继 | 存在 | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 离 | 续在上 | 具 | 未履 | 离任 | 原定任期 | 任 | 市公司 | 体 | | | | | | | | | | | | 姓名 | 离任时间 | 行完 | 职务 | 到期日 | 原 | 及其控 | 职 | 毕的 | | | | | | | | | | | | 因 | 股子公 | 务 | 公开 | 司任职 | | | | | | | | ...

Group 1 - The company announced that Mr. Yang Yunyuan has resigned from the board of directors due to retirement [2] - For the fiscal year 2024, the company's revenue composition is as follows: Real estate accounts for 93.06%, hotel industry for 4.71%, other businesses for 1.26%, and property management for 0.97% [2]

Performance Forecast Core Data [2025 Semi-Annual 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) The company anticipates a significantly narrowed net loss for H1 2025, with unaudited net profit attributable to shareholders between -28.5 million and -22.8 million RMB Estimated Performance for H1 2025 | Indicator | Estimated Amount (million RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -28.5 to -22.8 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | -30.5 to -25.0 | - This performance forecast is **unaudited** by a certified public accountant[5](index=5&type=chunk) [Prior Period Performance Review and Comparison](index=1&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%E7%8A%B6%E5%86%B5) The H1 2025 loss significantly decreased compared to the restated -391.688 million RMB net loss in H1 2024, attributed to a common control acquisition Prior Period Performance (H1 2024, Restated) | Indicator (H1 2024, Restated) | Amount (million RMB) | | :--- | :--- | | Net Profit Attributable to Parent Company Shareholders | -391.688 | | Net Profit Attributable to Parent Company Shareholders After Non-Recurring Items | -432.6904 | | Earnings Per Share (RMB) | -0.215 | - The **2024 financial data was restated** due to the acquisition of 100% equity in Beijing Huayuan Haotiandi Smart Property Services Co., Ltd., which was a **common control enterprise merger**[7](index=7&type=chunk) Operating Analysis and Outlook [Reasons for Performance Change and Future Strategy](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) The H1 2025 loss reduction stems from a post-reorganization strategic shift to light-asset businesses, with future plans for operational efficiency and growth through acquisitions - The company attributes the **significant reduction in H1 2025 loss** to its **strategic transformation** post-reorganization[7](index=7&type=chunk) - The company's new strategic focus is on **light-asset businesses** such as hotel and property management, aiming to rebuild its 'core asset' moat[7](index=7&type=chunk) - The company's plans for the second half include **improving efficiency of existing businesses**, **expanding through new business acquisitions**, and **advancing operational enhancement and innovation**[7](index=7&type=chunk) Important Notice [Risk Warning and Other Explanations](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 based on preliminary, unaudited data, with final accurate financial information subject to the official 2025 semi-annual report, advising investor caution - This performance forecast is a **preliminary estimate** and has **not been finally audited** by the annual audit accountant[8](index=8&type=chunk) - The specific and accurate financial data will be subject to the company's **officially disclosed 2025 semi-annual report**[9](index=9&type=chunk)

华远控股（600743）公告，预计2025年半年度实现归属于母公司所有者的净利润约为-2850万元到-2280 万元，预计公司2025年半年度实现归属于母公司所有者的扣除非经常性损益的净利润约为-3050万元 到-2500万元。 ...