京系房企一哥“换帅”，齐占峰如何打赢去库存与利润保卫战？

Core Viewpoint - Beijing Urban Construction Investment Development Co., Ltd. (referred to as "Urban Development") is undergoing significant management changes, with Qi Zhanfeng appointed as the new chairman amid fluctuating financial performance, including a projected loss of 951 million yuan in 2024 followed by an expected profit of over 400 million yuan in the first half of 2025 [1][10]. Management Changes - Qi Zhanfeng, previously the chief accountant of Beijing Urban Construction Group, has been elected as the chairman of Urban Development, marking a shift in leadership dynamics [4][8]. - The new management team consists of Qi Zhanfeng and Zou Zhe, who serves as both the party secretary and general manager, indicating a strategic focus on financial and operational management [2][8]. Financial Performance - Urban Development reported a revenue of approximately 25.442 billion yuan in 2024, reflecting a year-on-year increase of 24.94%, but faced a net loss of about 951 million yuan, a decline of 270.17% compared to the previous year [10]. - The company anticipates a turnaround in 2025, projecting a net profit of between 440 million yuan and 654 million yuan for the first half of the year, driven by the delivery of real estate projects and gains from financial assets [10]. Challenges and Strategies - Despite the anticipated profit in 2025, Urban Development has faced ongoing challenges with profitability stability, as evidenced by fluctuating performance over recent years [11]. - The gross profit margins for real estate development, leasing, and property management have declined, with the real estate development margin at 14.1% [11]. - The new leadership is tasked with stabilizing profits, reducing inventory, and enhancing operational efficiency, particularly in the context of high inventory levels and declining profit margins [11][14]. Industry Context - The real estate sector is undergoing significant adjustments, and the new management's ability to navigate these challenges will be critical for Urban Development's future performance [2][12]. - The emphasis on financial management and risk control under Qi Zhanfeng's leadership is expected to play a crucial role in maintaining cash flow and ensuring the company's safe development amidst industry pressures [14].