全国首家！上市房企破产重整案获批，1470亿债务"清零"

Core Viewpoint - *ST Jinke has successfully completed its judicial reorganization, marking a significant milestone as the first listed real estate company in China to undergo such a process, with a total debt of 147 billion yuan being effectively "cleared" [1][5]. Group 1: Judicial Reorganization - On May 11, *ST Jinke and its wholly-owned subsidiary, Chongqing Jinke, received a civil ruling from the Chongqing Fifth Intermediate People's Court approving their reorganization plans and terminating the reorganization procedures [1]. - The approval of the reorganization plan allows *ST Jinke to enter the execution phase, which is crucial for its recovery [1][3]. Group 2: Financial Performance - In 2024, *ST Jinke reported a revenue of 27.56 billion yuan, a decline of 56.43% year-on-year, and a net loss attributable to shareholders of 31.97 billion yuan, down 266.11% from the previous year [7][8]. - The company's total assets decreased by 20.98% to 177.18 billion yuan, while the net assets attributable to shareholders turned negative at -28.68 billion yuan, a drop of 917.54% [8]. - The operating cash flow was also negative at -674 million yuan, although this represented an improvement of 80.95% year-on-year [8]. Group 3: Business Strategy and Future Outlook - The restructured *ST Jinke will focus on four main business segments: investment management, development services, operational management, and special assets, aiming to enhance profitability and asset value [4]. - The company plans to implement a transformation strategy centered on "efficient operations, lean management, and technological innovation" to become a comprehensive real estate operator with strong profitability and high investment returns [3][4]. - Despite the financial challenges, *ST Jinke aims to ensure all projects are completed without delays, targeting a delivery of no less than 2.9 million square meters in 2025 [12].