CFLD(SH:600340) Zheng Quan Shi Bao Wang·2025-04-30 09:48Core Viewpoint - 华夏幸福 is actively advancing its strategy to transform into an industrial new city service provider while focusing on "ensuring delivery of buildings" and debt restructuring efforts [1][4] Financial Performance - In the reporting period, the company achieved an operating revenue of 23.765 billion yuan [1] - The industrial leasing service saw the expansion of 133 new parks, with a total signed area of 5.1 million square meters, representing a year-on-year increase of 179% [1] - The company successfully landed 337 projects, with a total contract signed area of 317,000 square meters, up 126% year-on-year [1] Business Segments - The company has restructured its business portfolio into four main segments: development, operation, service, and park derivative businesses [1] - In the development segment, the company managed to add 67 new enterprises in the industrial new city, with a signed investment amount of 20.777 billion yuan [1] Operational Focus - The operation segment focuses on revitalizing the company's operating assets, managing various assets such as industrial parks, innovation centers, hotels, and educational facilities [2] - The company managed approximately 1.91 million square meters of industrial parks, with 254 new signed projects and a contract signed area of 203,400 square meters in 2024 [2] Service Capabilities - The service segment includes industrial development services, property services, and real estate services [2] - The company’s property services managed an area of 63.34 million square meters for urban and industrial park services, and 5.991 million square meters for residential services [2] Park Derivative Business - The company is exploring high-potential areas such as park renewable energy, digitalization, and low-altitude economy [3] - In the reporting period, the company’s investment in Suzhou Torch generated revenue of 0.332 billion yuan from 28 operating projects across 10 cities [3] Debt Restructuring - As of the report date, the company signed debt restructuring agreements totaling 192.273 billion yuan, with equity compensation for debts amounting to approximately 23.174 billion yuan [3] - The company has established a trust plan of 25.6 billion yuan, implementing trust debt compensation of 22.348 billion yuan [3] Future Outlook - The company will continue to prioritize "ensuring delivery of buildings" and strengthen its core industrial service capabilities to drive the transformation into an industrial new city service provider [4]