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」）將於二零二五年十月三十一日在 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 張杰 主席 中國‧北京 二零二五年十月三十日 於本公告之日，董事會由八名董事組成，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 | 2025-040 | | --- | --- | --- | --- | --- | | 债券代码：188461 | 债券简称 ...

Financial Performance - Total operating revenue for Q3 2025 was CNY 1,347,557,653, representing a year-on-year increase of 3.57%[7] - The total profit for the period was a loss of CNY 614,742,885, with a cumulative loss of CNY 2,117,139,906 year-to-date[7] - Net profit attributable to shareholders for Q3 2025 was a loss of CNY 588,342,675, with a cumulative loss of CNY 2,173,756,917 year-to-date[7] - Basic and diluted earnings per share for Q3 2025 were both CNY -0.18, with year-to-date figures at CNY -0.65[7] - The weighted average return on net assets was -7.52% for the reporting period and -25.24% year-to-date[7] - Total operating revenue for the first three quarters of 2025 was 4,366,877,339, compared to 4,730,946,624 in the same period of 2024, representing a decrease of approximately 7.7%[32] - Net profit for the first three quarters of 2025 was -2,330,960,103, compared to -1,052,709,814 in 2024, reflecting a deeper loss year-over-year[34] - Basic and diluted earnings per share for the first three quarters of 2025 were both -0.65, compared to -0.28 in the same period of 2024, indicating a worsening financial performance[37] - The total profit for the first three quarters of 2025 was 2,117,139,906, compared to -910,428,265 in 2024, showing a significant improvement in profit margins[34] Cash Flow - The net cash flow from operating activities for the year-to-date period was CNY 1,107,080,362, showing a significant increase of 114.45%[7] - Cash received from sales and services increased, contributing to the positive cash flow from operating activities[16] - Operating cash inflow for the first three quarters of 2025 reached RMB 5,456,892,004, a 12.4% increase from RMB 4,852,689,032 in the same period of 2024[38] - Cash outflow from operating activities totaled RMB 4,349,811,642 in 2025, slightly up from RMB 4,336,458,015 in 2024, resulting in a net cash flow from operating activities of RMB 1,107,080,362[39] - The company reported a negative net cash flow from operating activities of CNY -29,787,143 for the first three quarters of 2025[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 44,730,906,672, down 8.42% from the previous year-end[10] - Total current assets amounted to RMB 33.396 billion as of September 30, 2025, compared to RMB 37.039 billion as of December 31, 2024[26] - Total liabilities reached CNY 34,644,728,212 as of September 30, 2025, compared to CNY 37,074,445,175 as of December 31, 2024, representing a decline of approximately 6.56%[29] - Current liabilities totaled CNY 15,539,897,931 as of September 30, 2025, down from CNY 16,251,327,379 as of December 31, 2024, indicating a reduction of about 4.38%[28] - The total equity attributable to shareholders was CNY 7,525,340,978 as of September 30, 2025, down from CNY 9,699,142,595 as of December 31, 2024, a decrease of about 22.49%[30] - Total non-current assets amounted to CNY 11,335,101,571 as of September 30, 2025, compared to CNY 11,802,870,856 as of December 31, 2024, reflecting a decrease of approximately 3.96%[27] Revenue Segments - The company reported a significant decrease in revenue from the real estate development segment, impacting overall profitability[16] - The total operating revenue for the conference center and commercial properties reached RMB 429.71 million, with a total construction area of 367,900 square meters[22] - The hotel segment generated an operating revenue of RMB 556.05 million, with a total construction area of 346,800 square meters[22] - The office and comprehensive commercial segment achieved an operating revenue of RMB 507.93 million, with a total construction area of 578,500 square meters[22] - The apartment segment reported an operating revenue of RMB 198.86 million, with a total construction area of 184,300 square meters[22] Investment and Expenses - Research and development expenses for the first three quarters of 2025 were 2,989,412, while no R&D expenses were reported for the same period in 2024, indicating a strategic focus on innovation[32] - Other income for the first three quarters of 2025 was 26,613,703, down from 50,310,065 in 2024, reflecting a decline of approximately 47%[32] - Tax expenses for the first three quarters of 2025 were 213,820,197, compared to 142,281,549 in 2024, representing an increase of about 50%[34] - The company reported investment income of 31,467,979 for the first three quarters of 2025, compared to 32,907,914 in 2024, indicating a slight decrease[32] - The company experienced a net impairment loss of 72,907,152 in the first three quarters of 2025, compared to a loss of 143,168,208 in 2024, showing an improvement in asset management[34]

2025年1-9月，就房地产开发而言，在土地储备方面，公司无新增房地产储 备，总土地储备357.25万平方米，权益土地储备332.58万平方米；在工程建设方 面，公司实现开复工面积109.39万平方米，新开工面积为0，竣工面积2.74万平 方米；在项目销售方面，公司实现销售面积21.04万平方米，同比下降0.05%，权 益销售面积19.38万平方米，同比上升1.20%，销售金额27.82亿元，同比下降 5.53%，权益销售金额25.57亿元，同比下降5.33%，结算面积17.44万平方米，结 算金额19.49亿元，报告期末待结转面积11.60万平方米。 由于房地产项目租售过程中存在各种不确定性，上述数据可能与定期报告披露 的数据存在差异，请投资者审慎使用，相关阶段性数据以本公司定期报告为准。 1 特此公告。 北京北辰实业股份有限公司 | 证券代码：601588 | 证券简称：北辰实业 | | | 公告编号：临 | 2025-040 | | --- | --- | --- | --- | --- | --- | | 债券代码：188461 | 债券简称：21 | 北辰 | G1 | | | | 债券代码：185 ...

公司董事会及董事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误 导性陈述或重大遗漏，并承担个别和连带的法律责任。 北京北辰实业股份有限公司 2025 年第三季度报告 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： 北京北辰实业股份有限公司 2025 年第三季度报告 证券代码：601588 证券简称：北辰实业 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 1 / 21 √适用 □不适用 北京北辰实业股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 | | | | 单位：元 | 币种：人民币 | | --- | --- | --- | --- | --- | | | | 本报告期比 | | 年初至报告期 | | 项目 | 本报告期 | 上年同期增 | 年初至报告期末 | 末比上年同期 | | | | 减变动幅度 | | 增减变动幅度 | | | | (% ...

Core Insights - The average stock price of A-shares is 14.06 yuan, with 28 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.38 yuan [1][2] - Among the low-priced stocks, 12 are ST stocks, accounting for 42.86% of the total [1] - In terms of market performance, 11 of the low-priced stocks increased in price, with HNA Holding, ST Lingnan, and Jin Zheng Da showing the highest gains of 3.55%, 2.58%, and 1.68% respectively [1] Low-Priced Stocks Overview - The lowest priced stock is *ST Gao Hong at 0.38 yuan, followed by *ST Yuan Cheng at 0.86 yuan and *ST Su Wu at 0.96 yuan [1] - The daily performance of low-priced stocks shows that 11 stocks increased while 11 decreased, with *ST Yuan Cheng, ST Jing Lan, and ST Ming Cheng experiencing the largest declines of 4.44%, 2.25%, and 1.60% respectively [1] - The table of low-priced stocks includes various sectors such as telecommunications, construction decoration, pharmaceuticals, real estate, and steel [1][2]

Summary of Key Points Core Viewpoint - The average stock price of A-shares is 13.94 yuan, with 26 stocks priced below 2 yuan, the lowest being *ST Gao Hong at 0.38 yuan [1][2] Group 1: Market Performance - As of October 27, the Shanghai Composite Index closed at 3996.94 points, with a notable presence of low-priced stocks in the market [1] - Among the low-priced stocks, 5 stocks increased in price, with Rongsheng Development, Chongqing Steel, and Shandong Steel showing gains of 1.23%, 0.66%, and 0.61% respectively [1] - Conversely, 14 stocks declined, with *ST Yuan Cheng, *ST Yun Wang, and *ST Su Wu experiencing the largest drops of 5.00%, 4.98%, and 4.72% respectively [1] Group 2: Low-Priced Stocks Overview - There are 26 stocks priced below 2 yuan, with 11 of them classified as ST stocks, representing 42.31% of the low-priced stocks [1] - The lowest priced stock is *ST Gao Hong at 0.38 yuan, followed by *ST Yuan Cheng at 0.95 yuan and *ST Su Wu at 1.01 yuan [1] - The table of low-priced stocks includes various sectors such as telecommunications, construction decoration, and pharmaceuticals, indicating a diverse industry representation among low-priced stocks [1][2]

Core Insights - The real estate development sector experienced a decline of 1.08% on October 24, with Shen Property A leading the drop [1] - The Shanghai Composite Index closed at 3950.31, up 0.71%, while the Shenzhen Component Index closed at 13289.18, up 2.02% [1] Real Estate Sector Performance - Notable gainers in the real estate sector included: - Yingxin Development (000620) with a closing price of 2.64, up 10.00% [1] - Heimu Dan (600510) with a closing price of 8.74, up 6.46% [1] - ST Zhongdi (000609) with a closing price of 5.68, up 4.99% [1] - Major decliners included: - Shen Property A (000011) with a closing price of 10.35, down 8.41% [2] - Tianjian Group (000090) with a closing price of 3.85, down 6.33% [2] - Beichen Industry (601588) with a closing price of 1.98, down 5.71% [2] Capital Flow Analysis - The real estate sector saw a net outflow of 211 million yuan from institutional investors and 107 million yuan from retail investors, while retail investors had a net inflow of 318 million yuan [2] - Key stocks with significant capital flow included: - Wantong Development (600246) with a net inflow of 68.84 million yuan from institutional investors [3] - Zhangjiang High-Tech (600895) with a net inflow of 46.32 million yuan from institutional investors [3] - Hefei Urban Construction (002208) with a net inflow of 37.46 million yuan from institutional investors [3]

Core Insights - The 2025 Xinjiang Tachen Bakhtu Forum has commenced, aiming to enhance connectivity, economic cooperation, and cultural exchange among countries along the Belt and Road Initiative [1][2] - The forum will now be an annual event, establishing itself as a key platform for regular exchanges and cooperation among Belt and Road countries [2] Group 1: Event Overview - The Bakhtu Forum is being held at the newly managed Central Asia Cultural Exchange Center, with participation from international guests, multinational corporate leaders, and experts [1] - The forum marks a significant milestone for the local exhibition industry and economic upgrade in Tachen, Xinjiang, positioning it as a new hub for regional cooperation [1][8] Group 2: Organizational Efforts - The Beijing Exhibition Group has actively engaged in the project design and construction in response to the Belt and Road Initiative, showcasing rapid development in less than ten months [2] - The North Star operation management team has effectively addressed challenges such as dual business models and tight timelines, establishing a service framework through resource integration and professional support [2][5] Group 3: Event Execution - The North Star team successfully managed the forum logistics, ensuring the venue was ready to accommodate over 2,000 attendees and 108 exhibition booths [7] - The event received high praise for its government-level service standards, laying the groundwork for the venue's official operations [7][8] Group 4: Future Prospects - The North Star Group and Beijing Exhibition aim to leverage resources to cultivate local talent and promote a "Exhibition + N" integration model to stimulate foreign trade and cultural exchanges [8] - The focus will be on creating a high-end exchange platform that connects Central Asia with Europe, enhancing the local exhibition and hotel service landscape [8]

Group 1 - The stock of Beijing Beichen Industrial Holdings has increased by 14.8%, currently priced at 1.01 HKD, with a total market capitalization of 6.745 billion HKD [1] - Year-to-date, the cumulative increase in the stock price is 29.5% [1]

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Rongbai Technology, Jingzhida, Shouchuang Environmental Protection, World, and Jiufeng Energy [12] - In the last five days, the most researched companies were Dike Co., Jiuzhou Pharmaceutical, Aipeng Medical, Juzan Optoelectronics, and LiuGong [13] - Among the top twenty companies in the past 30 days, 11 had ten or more rating agencies, with Huafeng Measurement and Huichuan Technology expected to see significant growth in net profit for the first half of 2025 compared to 2024 [12] Group 2: Major Shareholder Increase in A-Share Companies - From October 13 to October 17, 2025, six A-share companies announced significant shareholder increases, with Luyin Investment and Beichen Industrial planning to increase their holdings by amounts exceeding 1% of the latest market value [17] - From January 1 to October 17, 2025, a total of 285 companies announced shareholder increases, with 81 having ten or more rating agencies, and 20 of these companies planning increases exceeding 1% of their latest market value [19] Group 3: A-Share Company Buyback Situation - From October 13 to October 17, 2025, 72 companies announced buyback progress, with 12 having ten or more rating agencies, and four companies expected to have buyback amounts exceeding 1% of their market value [24] - From January 1 to October 17, 2025, 1,768 companies announced buyback progress, with 383 having ten or more rating agencies, and 89 companies expected to have buyback amounts exceeding 1% of their market value [27]