金融街：双轮驱动与保障现金流稳健 迎接行业挑战

Core Insights - The real estate market in China is facing significant challenges, with a 12.9% year-on-year decline in sales area and a 17.1% drop in sales value for 2024, indicating a worsening trend compared to 2023 [1] - Financial Street (000402.SZ) is implementing a dual-driven strategy to navigate the downturn, achieving a sales contract amount of approximately 19.5 billion yuan in its real estate development business for 2024 [1][2] Group 1: Business Performance - The company’s real estate development business is adapting to market conditions by employing various sales strategies, including price adjustments, to enhance project sales and achieve a contract sales amount of about 19.5 billion yuan [2] - Financial Street's asset management business has maintained stable revenue and profit levels, contributing to the company's overall financial health and risk management capabilities [3] Group 2: Financial Management - The company prioritizes cash flow security as a core financial strategy, employing meticulous cash flow management and diverse financing channels to ensure stability [4] - For 2024, Financial Street is projected to maintain a positive operating cash flow of approximately 6 billion yuan, continuing a six-year trend of positive cash flow [4] Group 3: Market Strategy - The company is focusing on high-end commercial real estate sales in first-tier and core second-tier cities, leveraging its brand influence and project quality to ensure stable cash flow [2] - Financial Street is committed to a strategic approach that emphasizes safety, transformation, and steady development in response to market fluctuations and policy changes [4]