Beijing North Star(SH:601588)2024-07-09 09:26Financial Performance - Beijing Beichen Industrial Co., Ltd. expects a net loss attributable to shareholders of between -646 million and -749 million yuan for the first half of 2024[2]. - The company anticipates a net profit attributable to shareholders, excluding non-recurring gains and losses, of between -693.6 million and -804.2 million yuan for the same period[2]. - In the same period last year, the net profit attributable to shareholders was 9.57 million yuan, with a net loss of 49.51 million yuan when excluding non-recurring gains and losses[7]. Revenue and Profitability Challenges - The decline in performance is primarily due to reduced revenue from real estate development, with a decrease in the area available for settlement and changes in project structure affecting gross profit margins[9]. - The company is adjusting its marketing strategies dynamically to accelerate project liquidation and cash recovery, which has led to a decrease in gross profit levels[9]. - There are indications of impairment for some real estate projects, prompting the company to conduct preliminary impairment tests on inventory according to accounting standards[9]. Financial Position and Forecast - The expected cash balance at the end of the period is approximately 8.1 billion yuan, indicating sufficient financial reserves and smooth financing channels[4]. - The performance forecast has not been reviewed or audited by registered accountants[5]. - The company assures that there are no significant uncertainties affecting the accuracy of this performance forecast[10]. - Investors are advised to pay attention to investment risks as the forecast data is preliminary and subject to change in the official half-year report[11].