| 证券代码：601588 | 证券简称：北辰实业 | | 公告编号：临 | 2025-018 | | --- | --- | --- | --- | --- | | 债券代码：188461 | 债券简称：21 | 北辰 G1 | | | | 债券代码：185114 | 债券简称：21 | 北辰 G2 | | | | 债券代码：185738 | 债券简称：22 | 北辰 G1 | | | | 债券代码：250684 | 债券简称：23 | 北辰 F1 | | | | 债券代码：254174 | 债券简称：24 | 北辰 F1 | | | 北京北辰实业股份有限公司 关于为下属公司重庆北辰两江置业有限公司提供担保的公告 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： 一、担保情况概述： 本公司拟于近日与浙商银行重庆分行签署《最高额保证合同》，为重庆两江 向浙商银行重庆分行提供连带责任保证担保，以担保重庆两江按时足额清偿其在 《综合授信协议》项下产生的全部债务。担保的主债权本金金额累计不超过人民 币 12 亿元，担保 ...

详情请见于 2025 年 4 月 9 日在上海证券交易所网站披露的《北辰实业关于 为下属公司重庆北辰两江置业有限公司提供担保的公告》(公告编号：临 2025- 018)。 被担保人：重庆北辰两江置业有限公司 统一社会信用代码：91500112MA5U7K5676 成立时间：2016 年 09 月 07 日 法定代表人：谢雄 重庆北辰两江置业有限公司基本情况 北京北辰实业股份有限公司（以下简称"本公司"）全资子公司北京北辰 地产集团有限公司（以下简称"北辰地产"）全资持股的重庆北辰两江置业有 限公司（以下简称"重庆两江"）拟于近日与浙商银行股份有限公司重庆分行 （以下简称"浙商银行重庆分行"）签署《综合授信协议》、《固定资产借款 合同》，向浙商银行重庆分行申请固定资产贷款，用于重庆北辰悦来壹号项目 三、五期开发建设，最高贷款本金余额不超过人民币 12 亿元（人民币壹拾贰亿 元整），期限 5 年。 重庆两江拟于近日与浙商银行重庆分行签署《最高额抵押合同》，以重庆 两江持有的项目土地、住宅、商业等为《综合授信协议》项下本金金额累计不 超过人民币 9 亿元的债务提供抵押担保。上述抵押物产权清晰，不存在其他抵 押情况， ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：588） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條之披露要求而 作出。 以下刊載北京北辰實業股份有限公司（「本公司」）將於二零二五年四月九日在上海 證券交易所網頁(www.sse.com.cn)（股票代碼：601588）刊載的公告。以下公告亦 刊載於本公司網頁(www.beijingns.com.cn)。 承董事會命 北京北辰實業股份有限公司 胡浩 執行董事及公司秘書 中國‧北京 二零二五年四月八日 於本公告之日，董事會由九名董事組成，當中張杰先生、梁捷女士、楊華森先 生、張文雷女士、胡浩先生及魏明乾先生為執行董事，而周永健博士、甘培忠先 生及錢愛民女士為獨立非執行董事。 | 证券代码：601588 | 证券简称：北辰实业 | | 公告编号：临 | 2025-019 | | --- | --- | --- | --- | --- | | 债券代码：1884 ...

海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條之披露要求而 作出。 以下刊載北京北辰實業股份有限公司（「本公司」）將於二零二五年四月九日在上海 證券交易所網頁(www.sse.com.cn)（股票代碼：601588）刊載的公告。以下公告亦 刊載於本公司網頁(www.beijingns.com.cn)。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 （股份代號：588） 承董事會命 北京北辰實業股份有限公司 胡浩 執行董事及公司秘書 中國‧北京 二零二五年四月八日 於本公告之日，董事會由九名董事組成，當中張杰先生、梁捷女士、楊華森先 生、張文雷女士、胡浩先生及魏明乾先生為執行董事，而周永健博士、甘培忠先 生及錢愛民女士為獨立非執行董事。 | 证券代码：601588 | 证券简称：北辰实业 | | 公告编号：临 | 2025-018 | | --- | --- | --- | --- | --- | | 债券代码：1884 ...

Core Viewpoint - The company reported a significant decline in revenue and net profit for 2024, primarily due to a decrease in the real estate development segment, while the exhibition and commercial property segments showed growth in revenue and profit [1][2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 7.152 billion yuan, a year-on-year decrease of 54.59%, mainly due to reduced income from the real estate development segment [1]. - The net profit attributable to shareholders was -2.827 billion yuan, reflecting a year-on-year decline of 54.71% [1]. - The exhibition (including hotels) and commercial property segments generated operating revenue of 2.961 billion yuan, an increase of 11.77%, with a pre-tax profit of 492 million yuan, up 4.80% [1]. - The real estate development segment reported operating revenue of 4.011 billion yuan (including parking spaces), a year-on-year decrease of 68.92%, with a pre-tax loss of 3.420 billion yuan [1]. Group 2: Business Segments Overview - In the exhibition (including hotels) and commercial property segment, the company hosted 2,243 events in 2024, 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% [2]. - The company signed 7 new venue and hotel management projects and 8 consulting projects, expanding its management business to 32 cities across key strategic development areas [2]. - In the real estate development segment, the company achieved contract sales of 4.426 billion yuan and a sales area of 339,500 square meters, completing the delivery of over 3,200 units across 4 projects [2]. Group 3: Investment Outlook - The company is leveraging its "exhibition + real estate" operational model to enhance resource integration and industry interaction, maintaining an "outperforming the market" rating [3]. - The main business includes real estate development and exhibition (including hotels) and commercial properties, with projected EPS and BPS for 2025 at 0.04 yuan and 2.91 yuan, respectively [3]. - Given its position as one of the largest exhibition venue operators in the country, the company is assigned a dynamic PB of 0.6-0.7 times for 2025, resulting in a reasonable value range of 1.75 yuan to 2.04 yuan [3].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年3月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京北辰實業股份有限公司(於中華人民共和國註冊成立的股份有限公司) 呈交日期: 2025年4月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 A股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 2,660,000,000 | RMB | | 1 RMB | | 2,660,000,000 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 2,660,000,000 | RMB | | 1 RMB | | 2,660,000,000 | | ...

Investment Rating - The investment rating for the company is "Outperform the Market" [2] Core Views - The report highlights that the company's performance has been impacted by the real estate sector, while the exhibition and commercial income segments have shown growth [8] - The company has a dual operational model of "exhibition + real estate," which is expected to enhance resource integration and industry interaction [8] - The report projects that the company's EPS and BPS for 2025 will be 0.04 yuan and 2.91 yuan respectively, with a dynamic PB of 0.6-0.7 times, leading to a reasonable value range of 1.75 yuan to 2.04 yuan [8] Financial Data and Forecast - In 2024, the company is expected to achieve operating revenue of 71.52 billion yuan, a year-on-year decrease of 54.6%, primarily due to reduced income from the real estate development segment [8] - The net profit attributable to the parent company is projected to be -28.27 billion yuan, a decline of 54.71% year-on-year [8] - The exhibition and commercial property segment is anticipated to generate revenue of 29.61 billion yuan in 2024, reflecting an increase of 11.77% year-on-year [8] - The real estate development segment is expected to report revenue of 40.11 billion yuan, a decrease of 68.92% year-on-year [8] - The company has managed to host 2,243 events in its self-owned venues and hotels, marking a 1.9% increase year-on-year, with significant events attracting 5.8625 million attendees, a 20.6% increase [8] - The company’s contract sales amount and area for 2024 are projected to be 44.26 billion yuan and 339,500 square meters respectively [8] Market Performance - The company's stock closed at 1.73 yuan on March 31, with a 52-week price fluctuation between 1.25 and 2.47 yuan [2] - The total market capitalization is 58.25 billion yuan, with a circulating market value of 46.02 billion yuan [2] - The report indicates a relative performance against the market index, with absolute returns of -5.5% over 1 month, 1.8% over 2 months, and -11.7% over 3 months [4]

Core Viewpoint - The company reported a significant decline in revenue and a shift to net losses for the fiscal year 2024, marking the lowest revenue in a decade [1][3]. Financial Performance - The company achieved an operating revenue of 7.152 billion yuan, a year-on-year decrease of 54.59% [1]. - The net profit attributable to shareholders was a loss of 2.827 billion yuan, a shift from profit to loss compared to the previous year [1]. - The non-recurring net profit was a loss of 2.966 billion yuan, which represents a substantial increase in losses compared to the same period last year [1]. Cost Structure - The ratio of selling, administrative, and financial expenses to operating revenue increased from 13.84% to 29.4%, indicating significant pressure on cost control [1]. - Financial expenses rose from 833 million yuan to 888 million yuan, primarily due to a decrease in capitalizable interest [1]. Real Estate Sector Impact - The decline in revenue was largely attributed to reduced income from the real estate development segment, which reported an operating revenue of 4.011 billion yuan, down 68.92% year-on-year [3]. - The company has experienced continuous losses in non-recurring net profit for three consecutive years, totaling 4.635 billion yuan from 2022 to 2024, surpassing the total of 4.424 billion yuan from 2017 to 2021 [4]. Cash Flow and Profit Distribution - The company plans not to distribute profits for the fiscal year 2024 due to significant losses, with retained earnings of 3.141 billion yuan intended for operational funding and project reserves [5]. - Cash flow from operating activities was 974 million yuan, a decrease of 414 million yuan year-on-year; cash flow from investing activities was -30 million yuan, down 85 million yuan; and cash flow from financing activities was -2.666 billion yuan, a reduction of 1.341 billion yuan [5]. Stock Performance - Since mid-December of the previous year, the company's stock price has continuously declined, with a cumulative drop of 24.36% since December 17, exceeding the decline of over 70% in the residential development sector [5]. - The company has faced ongoing selling pressure from leveraged funds, with net selling occurring in 9 out of the last 10 trading days, totaling 14.9938 million yuan [5].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 由於框架協議項下估計之年度上限按上市規則第14.07條計算的一項或多項的適 用百分比超過0.1%但低於5%，框架協議項下擬進行的該等交易僅須遵守上市規 則第14A.76條項下之申報、年度審閱及公告規定，但獲豁免遵守獨立股東批准 的規定。 1 （股份代號：588） 持續關連交易 框架協議 框架協議 本公司與北辰集團將於2025年4月1日簽署框架協議，期限自2025年4月1日起 計，並於2026年12月31日屆滿，據此，北辰集團和本公司同意北辰實業成員與 北辰集團成員可根據框架協議條款和條件進行多項交易。 上市規則的涵義 於本公告日期，北辰集團持有本公司已發行股份的34.87%，為本公司的控股股 東，故此北辰集團為本公司的關連人士。因此，框架協議項下及其項下擬進行 之交易構成上市規則第14A章項下本公司的持續關連交易。 框架協議 本公司與北辰集團將於2025年4月1日簽署框架協議，框架協議的主要條款概述如 ...

证券代码：601588 证券简称：北辰实业 公告编号：临 2025-017 债券代码：188461 债券简称：21 北辰 G1 债券代码：185114 债券简称：21 北辰 G2 债券代码：185738 债券简称：22 北辰 G1 债券代码：250684 债券简称：23 北辰 F1 债券代码：254174 债券简称：24 北辰 F1 北京北辰实业股份有限公司 关于与控股股东签署日常关联（连）交易框架协议 暨日常关联交易的公告 本公司董事会、全体董事及相关股东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个别及连带责任。 重要内容提示： ? 是否需要提交股东大会审议：根据《上海证券交易所股票上市规则》和 《香港联合交易所有限公司证券上市规则》相关规定，本公司第十届第二十七次 董事会会议审议通过：本公司拟与控股股东北辰集团签署《日常关联（连）交易 框架协议》，并确定相关日常关联交易于协议期限内的交易金额上限，按照交易规 模测试，上述交易无需提交股东大会审议。 ? 对本公司的影响：框架协议约定的交易属于本公司正常生产经营活动所 需，遵循公平、公正、公开、合理的原则 ...